Bipartisan Stimulus Push | Zoom Plunges | A Good Month To Sell Your Home

Plus: How A Former Pizza Hut Delivery Guy Used TikTok And Instagram To Build Gymshark Into A Billion-Dollar Sportswear Brand

Good morning.

Zoom’s astronomical growth rate is slowing down, as is the stock market’s enthusiasm for the enterprise software. We also look at new information about the highly anticipated Airbnb IPO and why December is a great month to sell your home.

In The News Today

The U.K. has become the first country to approve the Pfizer and BioNTech Covid-19 vaccine, with the first doses scheduled to be administered next week. 

The White House coronavirus force has reportedly discussed reducing the 14-day recommended quarantine time after exposure to Covid-19 to 10 days.

Top Take-Aways

A bipartisan group of lawmakers has resuscitated hopes for a stimulus bill, proposing a $908 billion package, though only slightly more than a third of that money would be newly appropriated—here’s what’s in it.

As expected, along with its third-quarter earnings release, Salesforce announced a $27.7 billion deal for Slack. Slack CEO and cofounder Stewart Butterfield was already a billionaire, but Salesforce’s announcement lifted his net worth by more than $200 million. 

While Slack soars, another enterprise software saw its fortunes declining. Despite yet again topping quarterly earnings expectations, Zoom’s stock fell 15% amid signs of a slowing growth rate, with founder Eric Yuan’s net worth plunging by $3.1 billion. 

Injecting optimism on the retail front, Kohl’s share price increased by 12.5% on Tuesday after announcing a partnership with Sephora which will see the French beauty giant opening 200 shops within Kohl’s department store by the end of 2021—with more to come.

Airbnb’s updated prospectus on its much-anticipated IPO indicates that its three billionaire founders will each sell less than 1% of their current stakes at the offering, or about 630,000 shares apiece, worth some $28 million at the low end of the pricing range.

Researchers have detected a surveillance technology that can identify the location of a phone anywhere in the world in just seconds with only a telephone number. At least 25 countries, some with chequered records on human rights, have reportedly used the tool.

The typical U.S. home appreciated by 1% in October alone, to $262,604, the best monthly gain since the summer and fall of 2005. Things are coming to a boil in the market for U.S. homes, and it may be the right time to sell.

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Yesterday we introduced a new class of Forbes 30 Under 30, and this profile of Ankur Jain, founder and CEO of venture studio Kairos, shows just what kind of things we can expect from these promising young innovators. Jain, from the Under 30 class of 2015, is working to provide relief to the millions of Americans who may find themselves unable to afford rent. 

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