5 Channel Partner & MSP Market News Updates: 8 February 2023
New barista at your service, Zoom layoffs, Magna5 acquires US Ops of Apogee IT, Connectwise PitchIT Program, and Vertical Markets Survey Open.
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Here are five technology news updates, insights, chatter, and plenty more to start your day for Wednesday, February 8, 2023. Sip up.
What’s In Our Daily Brew?
- Who We Serve: Content for managed services providers (MSPs), IT service providers (ITSPs), cybersecurity consultants, technology solutions providers (TSPs), systems integrators, VARs, independent software vendors (ISVs), distributors and any other partner acronym that further caffeinates our already stellar SEO.
- Frequency: Every business morning.
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A. Today’s Technology and MSP Partner Program News
- There’s a New Barista in Town. That’s right. The name is Jessica C. Davis, at your service. The C, in case you’re wondering, stands for Channel. I’ll be brewing up your daily managed services and channel news in this space going forward, with occasional help from the excellent staff here at ChannelE2E. In addition to being the new barista, I’m also the new editorial director of ChannelE2E and MSSP Alert. Send your news tips to [email protected]
- Zoom Cuts 15% of Workforce: Add Zoom to the list of vendors that hired too many during the pandemic boom. In a message to employees that was also shared on the company’s public blog, CEO Eric Yuan said that the company would cut its workforce by 15% or about 1,300 employees. Yuan said the company staffed up quickly during the pandemic to meet the demand for the platform – within 24 months Zoom grew by 3x. Yuan also cited the uncertain global economy. In addition to the layoffs, he said he would also reduce his own salary by 98% and forego his FY23 bonus. In 2022 he made just over $300,000 in salary and about $13,000 as part of the non-equity bonus plan.
- Magna5 Acquires US Operations of Apogee IT Services: National managed IT, cybersecurity, and cloud-based services provider Magna5 has acquired the US assets of Apogee IT Services, a managed IT and cybersecurity provider. Magna5 is a NewSpring Holdings platform company. The deal Increases Magna5’s scale in the Pittsburgh and Boston markets.
- ConnectWise PitchIT Accelerator Program Opens: Got a great product or offering you want to integrate into the ConnectWise platform? ConnectWise is inviting companies to compete in its 2023 PitchIT Accelerator Program. You could be selected as one of three finalists who will present their solution on center stage at IT Nation Connect 2023, Nov. 8-10 and have the opportunity to win a $70,000 grant to help fund your business. The program originally launched in 2018 and last year’s edition garnered a record 18 applicants. Submit your application online here through April 30.
- The Rewards of Vertical Market Specialization: Plenty has been said and written about the benefits of specializing in one or more vertical markets as an MSP. It gives you a competitive edge, you can focus on solutions for your vertical, and your ARR tends to be higher than those who don’t specialize. Plus, you can get recognized for your achievements as a leader in one of those vertical markets in ChannelE2E’s To 100 Vertical Market MSPs 2023. Our survey is open now, and it will take you about 20 minutes to complete. But hurry and do it before the deadline of February 28. Looking to see who made last year’s list? Check it out here.