Zoom Video CEO: I Don’t Know Why Our Shares Soared 72% After IPO

Zoom Video Communications CEO Eric Yuan said he’s mystified about why shares in his video conferencing company soared 76% in their first day of trading Thursday after an initial public offering. “I have no idea why,” Yuan told Fortune. It’s likely, however, that Zoom’s profitability stood out to Wall Street investors, who are accustomed to […]

Atlassian to Pay $165 Million for AgileCraft in Workplace Software Push

Enterprise software maker Atlassian is paying $165 million for AgileCraft, a startup that sells software to manage business projects. The acquisition, announced Monday, is part of Atlassian’s expansion from selling software development tools to more general workplace software. Atlassian is known for products like Jira, a tool for tracking software development tasks, and Bitbucket, which […]

Car Rental Companies Are Losing Customers to Rideshares, Report Says

Car rental companies are quickly losing customers to rideshare services, according to a new report from digital marketing firm Epsilon-Conversant. In an analysis of $140 billion of travel transactions over the past two years, 63% of previous car rental customers reduced their spending on car rentals–almost a $3.2 billion loss. Moreover, 56% stopped using car […]