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Extra Crunch Live: Join Verizon CEO Hans Vestberg for a live Q&A May 26 at 2pm ET/11am PT

Hans Vestberg, CEO of Verizon Communications, is a busy man. He’s also a business man. He’s a busy businessman, but has graciously made time to join us for an episode of Extra Crunch Live, our ongoing speaker series for Extra Crunch members.
We’re thrilled to have Vestberg as a guest on the show! The episode will air on May 26 at 2pm ET/11am PT.
Full disclosure: Verizon is the parent company to TechCrunch, which means that Vestberg is our boss’s boss’s boss’s boss.
Vestberg was previously CEO at Ericsson and joined Verizon as chief technology officer and EVP of network and technology in April of 2017. In June of 2018, the company announced that Vestberg would succeed Lowell McAdams as CEO of Verizon Communications. The promotion was made official that August.
Vestberg is unlike some of our previous guests on Extra Crunch Live — VCs like Kirsten Green, Roelof Botha and Charles Hudson and entrepreneurs like Mark Cuban. Vestberg is an operator at the helm of one of the world’s biggest corporations, and, as such, provides a unique perspective on adaptation strategies during the coronavirus pandemic.
Not only can attendees plan to hear about how Verizon is thinking both short and long-term about the effects of this pandemic on business, but also about how things are changing internally at the company, from re-opening offices to keeping morale high.
Vestberg leads a company with thousands of employees and can help founders understand how to manage a company at scale, particularly during a time when decisions are being made quickly and the stakes are high.
We’re also interested in talking to Vestberg about the company’s 5G rollout. 5G technology has huge implications for startups, especially as video conferencing and high-bandwidth communication formats become more popular in the midst of physical distancing.
Oh, another important thing! We’re not going to be the only ones asking questions. Extra Crunch members can also ask their questions directly in the Zoom call. So make sure you come prepared! If you’re not already a member, you can join Extra Crunch here.
Again, this episode of Extra Crunch Live with Hans Vestberg goes down on May 26 at 2pm ET/11am PT. You can find the full details below the jump.

Extra Crunch Live: Join Verizon CEO Hans Vestberg for a live Q&A May 26 at 2pm ET/11am PT

Daily Crunch: Disney’s streaming chief departs for TikTok

TikTok enlists a big name from Disney as its new CEO, Walmart is shuttering its Jet e-commerce brand and EasyJet admits to a major data breach.
Here’s your Daily Crunch for May 19, 2020.
1. Disney streaming exec Kevin Mayer becomes TikTok’s new CEO
Mayer’s role involved overseeing Disney’s streaming strategy, including the launch of Disney+ last fall, which has already grown to more than 50 million subscribers. He was also seen as a potential successor to Disney CEO Bob Iger; instead, Disney Parks, Experiences and Products Chairman Bob Chapek was named CEO in a sudden announcement in February.
Mayer was likely an attractive choice to lead TikTok not just because of his streaming success, but also because hiring a high-profile American executive could help address politicians’ security concerns about the app’s Chinese ownership.
2. Walmart says it will discontinue Jet, which it acquired for $3B in 2016
Walmart tried to put a positive spin on the news, saying, “Due to continued strength of the Walmart.com brand, the company will discontinue Jet.com. The acquisition of Jet.com nearly four years ago was critical to accelerating our omni strategy.”
3. EasyJet says 9 million travel records taken in data breach
EasyJet, the U.K.’s largest airline, said hackers have accessed the travel details of 9 million customers. The budget airline said 2,200 customers also had their credit card details accessed in the data breach, but passport records were not accessed.
4. Where these 6 top VCs are investing in cannabis
The results paint a stunning picture of an industry on the verge of breaking away from a market correction. Our six respondents described numerous opportunities for startups and investors, but cautioned that this atmosphere will not last long. (Extra Crunch membership required.)
5. Brex brings on $150M in new cash in case of an ‘extended recession’
Where upstart companies aren’t cutting staff, they are often reducing spend — which is bad news for Brex, since it makes money on purchases made through its startup-tailored corporate card. But co-founder Henrique Dubugras seems largely unbothered on how the pandemic impacts Brex’s future.
6. Popping the hood on Vroom’s IPO filing
Yesterday afternoon, Vroom, an online car buying service, filed to go public. What does a private, car-focused e-commerce company worth $1.5 billion look like under the hood? (Extra Crunch membership required.)
7. Experience marketplace Pollen lays off 69 North America staff, furloughs 34 in UK
Founded in 2014 and previously called Verve, Pollen operates in the influencer or “word-of-mouth” marketing space. The marketplace lets friends or “members” discover and book travel, events and other experiences — and in turn helps promoters use word-of-mouth recommendations to sell tickets.
The Daily Crunch is TechCrunch’s roundup of our biggest and most important stories. If you’d like to get this delivered to your inbox every day at around 9am Pacific, you can subscribe here.

Daily Crunch: Disney’s streaming chief departs for TikTok

Disney streaming exec Kevin Mayer becomes TikTok’s new CEO

Kevin Mayer, head of The Walt Disney Company’s direct-to-consumer and international business, is departing to become CEO of TikTok, as well as COO of the popular video app’s parent company ByteDance.
Founder Yiming Zhang will continue to serve as ByteDance CEO, while TikTok President Alex Zhu (formerly the co-founder of the predecessor app Musical.ly) becomes ByteDance’s vice president of product and strategy.
“I’m thrilled to have the opportunity to join the amazing team at ByteDance,” Mayer said in a statement. “Like everyone else, I’ve been impressed watching the company build something incredibly rare in TikTok – a creative, positive online global community – and I’m excited to help lead the next phase of ByteDance’s journey as the company continues to expand its breadth of products across every region of the world.”
The news was first reported by The New York Times and subsequently confirmed in announcements from ByteDance and Disney.
Mayer’s role involved overseeing Disney’s streaming strategy, including the launch of Disney+ last fall, which has already grown to more than 50 million subscribers. He was also seen as a potential successor to Disney CEO Bob Iger; instead, Disney Parks, Experiences and Products Chairman Bob Chapek was named CEO in a sudden announcement in February.
Mayer was likely an attractive choice to lead TikTok not just because of his streaming success, but also because hiring a high-profile American executive could help address politicians’ security concerns about the app’s Chinese ownership.
Over at Disney, Rebecca Campbell (most recently president of Disneyland Resort, who also worked on the Disney+ launch as the company’s president for Europe, Middle East and Africa) is taking over Mayer’s role, while Josh D’Amaro is taking on Chapek’s old job as chairman of Disney parks, experiences and products.
In a statement, Chapek said:
As we look to grow our direct-to-consumer business and continue to expand into new markets, I can think of no one better suited to lead this effort than Rebecca. She is an exceptionally talented and dedicated leader with a wealth of experience in media, operations and international businesses. She played a critical role in the launch of Disney+ globally while overseeing the EMEA region, and her strong business acumen and creative vision will be invaluable in taking our successful and well-established streaming services into the future.

Disney CEO Bob Iger immediately steps down from CEO position

 

Disney streaming exec Kevin Mayer becomes TikTok’s new CEO

TikTok tops 2 billion downloads

TikTok, the widely popular video sharing app developed by one of the world’s most valued startups (ByteDance), continues to grow rapidly despite suspicion from the U.S. as more people look for ways to keep themselves entertained amid the coronavirus pandemic.
The global app and its Chinese version, called Douyin, have amassed over 2 billion downloads on Google Play Store and Apple’s App Store, mobile insight firm Sensor Tower said Wednesday.
TikTok is the first app after Facebook’s marquee app, WhatsApp, Instagram and Messenger to break past the 2 billion downloads figure since January 1 of 2014, a Sensor Tower official told TechCrunch. (Sensor Tower began its app analysis on that date.)
A number of apps from Google, the developer of Android, including Gmail and YouTube, have amassed over 5 billion downloads, but they ship pre-installed on most Android smartphones and tables.
TikTok’s 2 billion download milestone, a key metric to assess an app’s growth, comes five months after it surpassed 1.5 billion downloads.

In the quarter that ended on March 31, TikTok was downloaded 315 million times — the highest number of downloads for any app in a quarter and — surpassing its previous best of 205.7 million downloads in Q4 2018. Facebook’s WhatsApp, the second most popular app by volume of downloads, amassed nearly 250 million downloads in Q1 this year, Sensor Tower told TechCrunch.
As the app gains popularity, it is also clocking more revenue. Users have spent about $456.7 million on TikTok to date, up from $175 million five months ago. Much of this spending — about 72.3% — has happened in China. Users in the United States have spent about $86.5 million on the app, making the nation the second most important market for TikTok from the revenue standpoint.
Craig Chapple, a strategist at Sensor Tower, said that not all the downloads are as organic as TikTok, which launched outside of China in 2017 and has engaged in a “large user acquisition campaign.” But he attributed some of the surge in downloads to the COVID-19 outbreak that has driven more people than ever to look for new apps.
India, TikTok’s largest international market, accounts for 30.3% of the app’s downloads, according to Sensor Tower. The app has been downloaded 611 million times in the world’s second largest internet market.
From a platform’s standpoint, 75.5% of all of TikTok’s downloads have occurred through Google Play Store. But the vast majority of spending has come from users on Apple’s ecosystem ($435.3 million of $456 million).
TikTok’s parent firm ByteDance, which was valued at $75 billion two years ago, counts Bank of China, Bank of America, Barclays Bank, Citigroup, Goldman Sachs, JP Morgan Chase, UBS, SoftBank Group, General Atlantic, and Sequoia Capital China among some of its investors.

TikTok tops 2 billion downloads

Disruptor Beam relaunches as gaming infrastructure-maker Beamable

Disruptor Beam, the mobile gaming startup behind Star Trek Timelines, has a new name and a new business. It’s now calling itself Beamable, and it’s selling a set of tools to help game developers add commerce and social functionality to their titles.
The company’s direction became clear earlier this year when it sold Timelines to Tilting Point so that it could focus on its developer tools. Now Beamable is officially launching its Early Access program for games that are live, or that are scheduled to go live in the next 12 months.
CEO Jon Radoff told me that Disruptor Beam first built this technology for its own games — not just Timelines, but also Game of Thrones Ascent and Walking Dead: March to War.
Radoff suggested that there’s a real need for this as gaming continues shifting towards a “games as a service” model, where developers don’t just release a title and move on, but rather continue adding new features and content, while continuing to make money from players.
Image Credits: Beamable
The largest developers with the most popular games can support this approach, but he said, “For the next 5,000 games on the app stores, any of the things they’ve built are pretty primitive and they really need help.”
He added, “For these developers, 30% or 40% of their effort goes into making a cool game, and all the other money and time goes into things the player doesn’t really see — the store and the commerce … It’s kind of like a tax on their ongoing operation.”
With Beamable, on the other hand, developers can take advantage of the infrastructure that the company has already built for in-game storefronts, merchandising, content management and social interactions. The platform also ties together the company’s backend infrastructure with the Unity 3D editor and the live gameplay experience.
“Other products we’ve investigated are just middleware,” said Tap Slots CEO Markus Weichselbaum in a statement. “Beamable is fully-integrated with Unity, including user interfaces that work in both the Unity 3D editor and game clients. This saves us massive amounts of time we’d otherwise spend in the guts of the technology and rediscovering best practices, instead of doing what we need to do: designing great games.”
In addition to selling Timelines, Disruptor Beam also shifted its business by shutting down Ascent and March to War, and it’s sold an unnamed, still-in-development title to East Side Games.
The Beamable team Image Credits: Beamable
Radoff suggested that when Disruptor Beam started, the market for licensed games tied to major entertainment franchises was still “the Wild, Wild West” providing “a tremendous opportunity” for startups to innovate. Now, however, it’s a “mature market” that’s dominated by larger developers.
Radoff also acknowledged that he spent much of 2019 “trying to figure out how to have my cake and eat it too” — in other words, how the company could turn the game platform into a business while continuing to develop games of its own.
“Ultimately, I concluded that game development is an obsession,” he said. “When you have a company in which any amount of game development is happening, no matter what you do, you’re always going to be obsessed with game development, and that obsession tends to push out your ability to create great technology or a great product for developers.”
Instead, Radoff decided to sell off the company’s games and try to build an organization (now operating remotely via Zoom, like everyone else) that’s equally obsessed with building a development platform — primarily for mobile games, but also for PC and console.

‘Star Trek Timelines’ game maker Disruptor Beam raises $8.5M

Disruptor Beam relaunches as gaming infrastructure-maker Beamable