Google Hangouts is Shutting Down 🔐 in November
Scott D. Clary | Daily Business, Tech & Finance Newsletter
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Google Hangouts is Shutting Down 🔐 in November
Google is finally getting ready to move on from Google Hangouts, the tech giant’s most successful messaging app to date.
In a blog post, the company said it would start migrating consumer Hangouts users to Chat after November 2022.
“Moving to Google Chat opens up new and better ways to connect and collaborate. For example, users can edit Docs, Slides, or Sheets with side-by-side editing, making it easier to collaborate while continuing the conversation,” the company said.
For users who are using Hangouts in Gmail on the web, the company says it won’t start prompting users to make the switch to Chat until July.
Hangouts will remain usable on its desktop site until November, and Google says it will warn users at least one month in advance before it starts prompting the Hangouts site to Chat.
To attract more users to Chat, Google is rolling out several new features, including the ability to make direct calls, create in-line threads in Spaces, as well as share and view multiple images.
Nike’s Quarterly Earnings 💰 Beat Wall Street Expectations
Nike has surpassed Wall Street’s earnings and sales expectations for the fiscal Q4, as the footwear and apparel brand overcame a covid lockdown in China and a tougher climate for consumers in the United States.
The sneaker giant reported net income for the three-month period ended May 31 of $1.44 billion (90 cents per share), compared with $1.51 billion (93 cents per share) a year earlier.
However, the sales declined to $12.23 billion from $12.34 billion a year earlier.
“NIKE’s results this fiscal year are a testament to the unmatched strength of our brands and our deep connection with consumers,” said John Donahoe, President & CEO of Nike, in the news release.
“Our competitive advantages, including our pipeline of innovative product and expanding digital leadership, prove that our strategy is working as we create value through our relentless drive to serve the future of sport,” he added.
The company anticipates the first-quarter revenue to be flat to slightly up versus the earlier year, as it continues to tackle covid-related challenges in China.
Nike said it anticipates full-year revenue will grow by low double-digits on a currency-neutral basis.
Crypto Exchange FTX is Looking to 👀 Acquire Trading Platform Robinhood
Cryptocurrency derivatives exchange FTX is reportedly exploring purchasing the popular trading app Robinhood Markets.
Shortly after the news broke, FTX CEO Sam Bankman-Fried clarified that his company is excited about potentially partnering with Robinhood but that there were no active merger conversations.
“We are excited about Robinhood’s business prospects and potential ways we could partner with them. That being said, there are no active M&A conversations with Robinhood,” he said.
Earlier in May 2022, Bankman-Fried disclosed his 7.6% stake in Robinhood, which was worth about $648 million at the time, according to a 13D Securities and Exchange Commission filing.
At the time, he said the purchase reflected his belief that Robinhood is a good investment; however, he had no intention of changing or influencing control of the company.
While no formal decision has been made to pursue a takeover, FTX is said to be still weighing the possibility and taking the acquisition matter seriously.
Hybrid Development Acceleration Platform Incredibuild Nabs $35M in Series B 💰
Incredibuild, an Israel-based firm that creates hybrid development acceleration platforms for developers and DevOps teams, has raised $35 million in its Series B funding round.
The funding was led by Hiro Capital along with participation from existing investors Insight Partners.
Founded in 2002, Incredibuild offers a software platform that allows companies to distribute processes across idle power in a network.
The company’s distributed processing and unique build caching acceleration solutions turbocharge both developer cycles & iteration frequency, enhancing product quality, lowering time-to-market, and raising customer satisfaction.
Headquartered in Tel Aviv with offices in the US, Japan, UK, and China, Incredibuild boasts of having more than 200,000 users from over 2,000 global organizations, including many Fortune 100 companies.
Some customers include leading brands like Microsoft, Amazon, Disney, Citibank, Adobe, Intel, EPIC Games, etc.
Incredibuild plans to use the latest proceeds to enhance its platform capabilities and increase value to customers.
In addition, the company will use the funds towards expanding its global market presence & accelerating the deployment of its Community, Developer Relations, and Cloud programs.
Around the Web 🌐
Fintech Amount Lays Off 18% Workforce: Financial technology firm Amount is reducing its workforce as a result of the current economic crisis. The company, which employs 400 people, has reduced its workforce by 18% in a move to safeguard its ability to thrive for years to come.
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