Hey Snackers,
Startup names are getting less silly, according to Crunchbase. “People are a bit longer with the names and going back to English words.” Guess Snax is a no-go.
Stocks ticked up to start September, building on August's historic gains.
Corporate Happy Hour has never been happier... Zoom absolutely smashed earnings last quarter (for a reason that requires no explanation). In just 3 months, the videoconferencing service made double the amount of money that it did during its entire 2019 fiscal year:
Zoom, zoom, zoom... Investors brought Zoom to their room on Tuesday, sending the stock soaring 40%. Zoom's market cap is now $129B, up from $25B a year ago. It's worth more than IBM and Lyft combined, or as much as four Twitters. Why the wild stock surge?
This is abnormally fast growth... for a publicly-traded, relatively mature company. For reference, let's look at some best quarters from the past: Apple killed it in 2008 with iPhone 3 and 90% sales growth. Facebook liked itself in 2014 with 72% growth. Netflix won an Oscar in 2011 with 50% growth. Zoom slayed in 2020 with 355% growth. Zoom is growing abnormally fast because its product was/is positioned to thrive during these abnormal times.
We promise this isn't about Amazon... Suuureee. Walmart unveiled the deets of its Amazon Prime subscription rival, Walmart+ (creative). The service launches on September 15th and costs $98/year, less than Prime's $119 price tag (take that, Bezos). Here's what's in the cart:
But does it come with TikTok?... Walmart wants to acquire TikTok to leverage its massive ecommerce reach (wait for it — to crush Amazon). Walmart+ is yet another play to compete with the 'Zon. Prime is the secret sauce of Amazonian success, because perk-filled subscriptions are loyalty builders.
This isn’t a Prime-killer, but it might stop the bleeding... Let's be honest: these perks probably won't win Walmart new customers. But they might keep existing customers from ordering more on Prime — especially when it comes to grocery delivery:
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Disclosure: Authors of this Snacks own shares of Amazon and Apple
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