Visitors play Halo Wars 2, a video game published by Microsoft Studios at the Paris Games Week, a trade fair for video games in Paris, France, October 26, 2016. REUTERS/Benoit TessierNOT ALL FUN AND GAMES. Coronavirus-related lockdowns have been good for the $130 billion video game industry. Homebound gamers helped fuel revenue surges at industry heavyweights like Activision Blizzard and Electronic Arts. Spending on video games in the United States reached $1.
ZOOMED OUT. Marc Benioff’s Salesforce.com has offloaded a stake in Zoom Video Communications it bought in the video-conferencing outfit’s initial public offering, according to a company filing. Salesforce snapped up $100 million of the stock when Zoom went public in April 2019, according to news reports. The company’s ventures arm also bought shares in the Dropbox and SurveyMonkey IPOs, according to CNBC.
SIMON AND BROOKS. Lockdowns caused by Covid-19 may be crushing mall shopping, but it isn’t stopping Simon Property from shifting its strategy. The $21 billion U.S. shopping-center owner, a so-called real estate investment trust, is buying Brooks Brothers out of bankruptcy with Authentic Brands for $325 million.
DELIVERY BOOM. Online retailers have made the most of lockdown. Fashion group ASOS said on Wednesday that sales and pre-tax profit in the current financial year would significantly exceed market expectations. One reason is fewer returned items. The other is a surge in demand for workout gear from its main client base, shoppers in their twenties, while they were housebound.
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