Salesforce’s (CRM) 2020 Holiday Shopping Report revealed that online spending by consumers increased 50% Y/Y to $1.1 trillion worldwide and rose 43% Y/Y to $236 billion in the U.S. Domestically, initiatives to pull forward holiday spend fueled an 82% Y/Y increase in Pre-Cyber Week sales.
Read MoreWe have included several news items from last week to this week’s recap as there were some notable developments during the shortened holiday week. The most pertinent to us was the publication of the United States Postal Services’ monthly trial balance data prior to Thanksgiving, which revealed a 39% Y/Y increase in PC Postage revenue in October.
Read MoreWith the unofficial end of summer upon us, the recent run of multiple expansion across the software sector has also seemingly ground to a halt. The week began with Zoom Video Communications (ZM) shattering Street expectations once again as the company continued to benefit from heightened demand amidst the COVID-19 pandemic.
Read MoreWith the COVID-19 pandemic prompting organizations to rethink processes for operating virtually, DocuSign (DOCU) sought to accelerate the launch of its next Agreement Cloud product, DocuSign Notary, by acquiring Liveoak Technologies for $38 million in stock.
Read MoreEarnings season for those with an April quarter-end concluded this week, providing an added glimpse into how business has trended since the onset of the COVID-19 crisis. The latter half of March and April proved challenging for most organizations as customers focused on their own operations.
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