good morning it's 8:00 a.m. at disney headquarters in burbank, california it's 11:00 a.m. on wall street, and "squawk alley" is live ♪ ♪

happy friday welcome to "squawk alley." i'm jon fortt with carl quintanilla. a big hour ahead fintech pioneer max levchin, co-founder of paypal, will join us as his new company affirm posts its first earnings since going public and then a new era for paid content, well, microsoft says maybe tech firms should pay for news. we will begin with disney, touching new highs after a quarter led by streaming closing in on the $100 million mark for disney plus. julia boorstin joins us now to break down the results hi, julia. well, jon, disney plus growing to 95 million subscribers well surpassing its original guidance four years early along with hulu and espn plus, that direct subscription base growing to 146 million driving the revenue up 73% in the quarter while that division's losses fell by more

than half. the company wouldn't update its expectation. now it says it's going to break even by 2024 >> we've been especially pleased with the success of our direct-to-consumer business. and our recent strategic reorganization has enabled us to accelerate the company's pivot towards a dtc first model. disney plus exceeded even our highest expectations >> average revenue has declined as its rolled out as a no cost option mostly in india the price target was raised saying they see few roadblocks given aggressive high-quality content creation with 100 titles to be release this had year. international expense on february 23rd, advertising which should continue to benefit with

increased viewership atlantic raising its price target on the stock as well citing management made positive comments saying that conversion rates for verizon which gave free access were pleasing and that a stepup in turn with the price increase was not expected. they say it seems fair given the value dismi plus provides. now investors are watching the february 23rd rollout of disney plus star, and that will be available in europe, canada and elsewhere. carl, it will be interesting to see whether having all that additional content really helps drive more subscribers to disney plus >> julia, in the last hour we talked about black widow and the company's apparent hopes to make that a theatrical event. are we going to start to see other studios try to hold their best cards for the theaters in a way that maybe we didn't see last year? >> look, it's going to be on a

studio by studio basis, carl, and it will depend on what happens with theaters reopening and a lot of that just like with the theme parks, a lot of that does depend on the vaccine, how comfortable people feel going forward. i think we're going to see a lot of flexibility disney might put it in theaters but they might be able to launch it digitally sooner than otherwise. they have riot and the dragon, a big animated movie coming up and they will be doing that simultaneously they did announce it ahead of the time the name of the game is flexibility and who knows what the theatrical going market will look like this summer. >> so true so many uncertainties. julia, thanks. julia boorstin on disney sticking with that quarter, the former head of content partnerships at hulu joins us along with ben smith, media columnist for "the new york times. happy friday thanks for the help today. >> good morning. thanks for having us on. >> good to see you >> heather, let me begin with

you. when you think about disney at this point, we're just talking about the optionality on, say, black widow, for example, in your mind does it remain a streaming story or is it a reopening story? >> i think that it remains a streaming story. i think we're going to see -- we still don't know how quickly black widow will follow for purchase and for inclusion on disney plus. and the numbers are going to drive that i think that decision hasn't been made but it will be a fast follow we're already seeing a strong support being available on disney plus for purchase "black widow" will be their biggest hit of the year so they're not taking any big risks with that but i still think this is disney's year and it's going to continue to be disney's story around being a streaming first company and we'll see that support with how quickly "black

widow" comes out on disney plus. >> ben, i'm curious to know how you viewedthe competitive landscape right now. obviously they're way ahead of schedule on their disney plus target they've done it in a fraction of the time it took netflix to get to these levels and they've got world class story tellers despite having half the value of netflix. how worried should netflix be? >> i think you are seeing the split that with the pandemic kind of made it over the line and netflix obviously has a huge lead disney got there just in time and the pandemic gave them this incredible year for streaming. you have warner media and nbc who lawn nchd confusing ways in the pandemic

>> i wonder, heather, whether part of the message here this isn't about a la carte anymore, it's about who gets to control the bundle though you get these services, you see them forming bundles, you see the initial kind of digital forms of cable that were more lower cost offerings either falling off or hiking up their prices is this really more about control and offering better bundled offerings? we see apple doing that, too and should we expect to see more of that in 2021 and beyond? >> absolutely. this is unbundling with all of the media companies launching their own services, and i think that over time over the next few years you'll start to see consolidation as services either, you know, succeed or fail of their own accord and then disney is poised to

actually win this fight across the media companies and i think you will start to see some rebundling but it will take a while. this is still very early days for the direct consumer streaming world and i think that we are going to head into rebundling but right now it's about the winner of this current battle and then over time the winner will take all >> and then that rebundling includes different times of content, too i'm thinking what apple is doing with fitness plus. you can imagine peloton getting into this game as well once they get their supply issues worked out, right >> absolutely. >> ben >> yeah. i think there is this world where everyone is a media company. everyone from spotify to "the new york times" looking to bundle or to be participate of those bundles as well. >> ben, we've got to turn to paying for content this microsoft move supporting this australian law that would

have google and facebook pay publishers and saying they would support a similar move back home how significant is it, and i just wonder a newscorp at an all-time high, upgraded morgan stanley. do you think we're starting to see that reflected in sentiment around some of these names >> i do think the long struggle between the tech companies and particularly the news media is starting to play out in certain ways australia, newscorp's base, is acting aggressively to force tech companies to compensate publishers for the news you see in a google search around your facebook feed. and doesn't have the sense of humor about antitrust that we have in the u.s. and what was so interesting is to see microsoft which is not exactly the -- not caught up with google on search, dive in on the side of the publishers. i think what you're seeing has gone from being sort of a hazy

regulatory mess to being a really classic fight between big companies, a tug of war, a lobbying fight in australia and europe in particular i suspect that whatever resolution you get there will, as microsoft suggests, be imported to the u.s. >> yeah. i wonder, heather, i'm not sure how much you weighed into this part of media, but to ben's point it is interesting to watch apple start to find wedges on privacy. apparently now microsoft finding wedges on paying for content it does set up a much different relationship that we've seen in the past where we've sort of looked at these giants as common behemoths. they're finding their differences. >> yeah. they absolutely are. but, you know, they all have the common goal of bringing all of the world's content and being

the place for everyone to discover content so they're aligned in that way we'll see how they can differentiate over time. at the end of the day everyone is in the direct to consumer world trying to own their share of the conversation. >> ben, when i look at what brad smith is doing at microsoft, it isn't that surprising. microsoft has taken a more institutional view of news they used to be partners with msnbc. i see apple, for example, with apple news and microsoft more in the camp of saying, well, let's set aside types of news that are maybe more credible, maybe more traditional, maybe worth paying for whether the audience agrees with that or not, and that's set up against facebook and google saying, hey, we're linking stuff

up offered for free. is it about potentially weakening the other tech giants who are getting their revenue from advertising more than people paying for a product? >> i think it's both you have google and facebook under this global, regulatory and pr assault for essentially being the world's leading distributor of misinformation and garbage. and the pendulum is swinging back to a place where, oh, yeah those gatekeepers we threw out, we look like them again. i think apple and microsoft feel like the wind is at their back, that these other companies have this huge problem and they're taking advantage of it in every way they can the news industry, the entire industry, basically, is a useful

wedge. >> yeah. definitely true when you think about the totality of their businesses there's a lot that will get interesting in the weeks and months to come we hope you'll come back and chat it up with us >> good to see you >> nice to see you >> affirm ceo, mine while, and paypal mafia member max levchin will join us next with that stock down quite a bit it posted its first earnings report as a public qup yeah, i mean the thing is, people like geico because it's just easy. bundling for example. you've got car insurance here. and home insurance here. why not... schuuuuzp.. put them together. save even more. some things are just better together, aren't they? like tea and crumpets. but you wouldn't bundle just anything. like, say... a porcupine in a balloon factory. no. that'd be a mess. i mean for starters, porcupines are famously no good in a team setting.

geico. save even more when bundle home and car insurance.

when you switch to xfinity mobile, you're choosing to get connected geico. save even more to the most reliable network nationwide, now with 5g included. discover how to save up to $300 a year with shared data starting at $15 a month, or get the lowest price for one line of unlimited. come into your local xfinity store to make the most of your mobile experience. you can shop the latest phones, bring your own device, or trade in for extra savings. stop in or book an appointment to shop safely with peace of mind at your local xfinity store.

welcome back shares of cloud plflare, that sc up about 400% in the past 12 months with us in an exclusive is cloudflare ceo matthew prince. welcome. so what a run cloudflare has had and these results kind of capping off a strong year. what do you think is the main challenge ahead in 2021? >> i think that for 2020 it was just an extraordinary year and we're proud of the role cloudflare played making sure the internetworked, how we all needed it to during the pandemic and so i think we are really excited for 2021 as things

return to normal and what we are seeing in terms of the vaccine rollout and states and local municipalities to do that. but i think that we're incredibly well positioned in order to continue to deliver the services that we have and help our customers make sure that they can go through their visible transformations and be successful in what is going to be a more complex world going forward. >> i think some investors are looking at that 2021 revenue guide up 37% at the midpoint and saying, boy, that's a deceleration what kind of normalization should investors expect and what are the ways you expect to continue pushing forward and gaining share as that happens? >> yeah, i think that we want to be really prudent about how we're looking at the future and there's a lot of uncertainty ahead. our revenue guide for 2021 at 37% growth is up from what our

2020 guide was and so i think that we have shown that we can execute during what are very challenging circumstances, and i think the tides of the i.t. change to moving to the cloud focuses on security, focuses on zero trust, are very much in our favor and we're looking forward to executing as we have year after year >> tell us about maybe strategically how you were able to get the kind of growth that you did in those customers with more than $100,000 in annualized recurring revenue. i believe that was up 57% and as you look at both the guidance and just overall the strategy for 2021 how much of that is going to be with that larger customer set >> cloudflare serves an incredibly broad set of customers and we had a record quarter for total customers. we had over 10,000 total new

paying customers but we saw especially strong growth in our largest customers, and what we're seeing is that the biggest companies in the world are increasingly relying on our network in order to make sure they're fast, reliable and, most importantly, secure. i think as we see more and more security incidents, it puts more emphasis on why having a network like cloudflare, protecting your infrastructure, is critical for any business that's online >> talk for a bit geographically about asia-pacific you're going through a transition in china of partners there. and so the growth in china was a bit slower than the growth in europe and the growth in the u.s. do you expect that to normalize? are there signs of that? or is there kind of continuing challenge in that transition >> we have about half of our revenue that comes from north america. but what he is really remarkable is that for a company that is

still relatively young as cloudflare is more than half of our revenue comes fromoutside north america and we have had incredibly strong growth in europe as you mentioned one of the things unique about our network is that it actually extends into china. so since 2014 we've been working with bidu, a partner there, and they've been terrific for us the contract came up for renewal and we looked for ways to increase the performance of our network inside of china and give one unified network around the entire world and jd stepped forward we're working to turn up cloudflare's network in over 150 locations across china and what that gives our customers is the ability to with one unified network sell anywhere in the world and do business anywhere in the world i think that's very unique about what it is that we're delivering >> you're in the neighborhood of a $25 billion market cap we've been talking a lot about

m&a on "squawk alley." is this a time to use that currency and maybe pick up some innovative companies and technologies that could fuel your growth? >> i think one of the things i'm really proud of at cloud flare is how much organically we've been able to deliver products and new features so in 2020 we delivered 550 new products or features across our platform and so our r&d efforts are yielding results if can you have organic development that's our preference over inorganic m&a. we're always looking for interesting companies and interesting technologies and so we're not religious against it but we're definitely biased towards our internal development when we can deliver products as effectively as we've been able to. >> if you find something interesting be sure to come back and let us know. matthew prince, ceo of cloudflare thank you. >> thank you

guys, watch twitter today. it's on pace for ten straight gains. on pace for the best week in about six years. it's been eight years since twitter hit an all-time ghf hi o 7 74.73. it used to be that brainstorming required a whiteboard and squeaky markers, but when you have devices that let you collaborate in real time from anywhere, the future works better. microsoft surface devices with teams, orchestrated by cdw enable employees to stay productive when working together, with high-quality audio-visual features designed for natural collaboration. so your team always captures every detail. microsoft and it orchestration by cdw. people who get it. ♪ microsoft and it orchestration by cdw. when disaster strikes to one,

we all get together and support each other. that's the nature of humanity. ♪ it has encouraged other people to take the time for each other. ♪ ♪ ♪♪ dad, i'm scared. ♪♪ it's only human to care for those we love. and also help light their way. ♪♪ it's why last year chevron invested billions of dollars to bring affordable, reliable, ever cleaner energy to america. ♪♪

i have an idea for a trade. oh yeah, you going to place it? not until i'm sure. why don't you call td ameritrade for a strategy gut check? what's that? you run it by an expert, you talk about the risk and potential profit and loss. could've used that before i hired my interior decorator. voila! maybe a couple throw pillows would help. get a strategy gut check from our trade desk. ♪♪

people are really leaning into a digital first approach when it comes to building their relationships, so prior to the pandemic you would see people engage on the product and then jump into the real world as far as interaction went. and this fascinating shift has taken place we think is here for the long term. people are getting to know each other on our products, spending time on video, on audio. >> bumble's founder and ceo whitney wolfe herd with us yesterday ahead of the debut stock up 60% plus yesterday,

another 15% today. she's now the youngest woman ever to take a company public. for the full interview go to cnbc.com in the meantime "squawk alley" is back in a moment. ♪♪

hey you, yeah you. i opened a sofi money account and it was the first time that i realized i could be earning interest back on my money. i just discovered sofi, and i'm an investor with a diversified portfolio. who am i?! i refinanced my student loans with sofi because of their low interest rates. thanks sofi for helping us get our money right. ♪♪ - [announcer] grubhub perks give you the kind of panera deals that make you want to move. ♪ get a free delivery perk on your first order from panera, only on.. - [group] grubhub! - [announcer] grub what you love.

i'm courtney reagan and here is your cnbc news update this hour former president trump's defense team is getting ready to lay out their case to the senate the presentation is expected to last four hours. president biden refusing comment on the trial, but saying he is watching for the outcome >> i'm just anxious to see what my republican friends do >> and you're not planning to speak with any of them >> no, i'm not >> the biden administration has launched a formal review of the u.s. military prison at guantanamo bay with the goal of closing the controversial facility this according to reuters. the agency says the president is considering signing an executive action on the matter in the coming weeks or months and amazon is suing new york attorney general latisha james to stop the state from taking legal action over its early covid-19 response. james calls amazon'ssuit a, quote, sad attempt to shift

attention away from what she describes as unsafe working conditions carl, back over to you >> interesting wrinkle there, courtney thank you very much. jon, i was just thinking the contentious relationship between amazon after new york city didn't work out and now the state ag, just looking at the shares, it's curious they've had a lot thrown their way in the past, say, six months, but has moved in a flat line since about labor day or so >> it has and this is amazon not appearing to back down here, kind of taking on latisha james and the new york political establishment directly we'll see how it works out, carl interesting aggressive stance from amazon. >> yeah. we are getting breaking news, remarks from the treasury secretary. steve liesman has it good morning, carl treasury secretary janet yellen in his first meeting with the g7

striking a very different tone from the prior administration when it comes to engagement with allies saying the u.s. relations with other countries will change dramatically under the biden administration which she says is committed to multilateralism a quote from a statement put out by the treasury saying the united states places a high priority on deepening our international engagement and strengthening our alliances. the prirpor administration had confrontational and somewhat cooperational stance with g7 allies on policy and spending yellen saying, quote, the time to go big is now, as she urged other g7 countries to spend when it comes to addressing the pandemic she expressed support on climate change and also saying the g7 must address challenges facing low-income countries one other thing maybe apropos for this particular show the chancellor of britain is the

head of g7, calling on them to reach a multilateral agreement on some of those thorny issues when it comes to digital taxation, currencies, international servers, and to do so by mid-2021 jon that will be an ongoing issue for this year. >> indeed. steve liesman, thank you meanwhile, affirm posting its first results as a public company its since its ipo earlier this year. it is down this morning despite beating the street on earnings and guidance affirm founder and ceo max levchin joins us now max, good to see you good morning >> good morning. thanks for having me >> i find it interesting you show the gross merchandise value mix and, of course, sporting goods and outdoors is at the top at 31% we know peloton is a really big customer but then you've got home and lifestyle, i believe. i can't tell if that's home and lifestyle or travel and ticketing, and then you have

fashion and beauty tell us about thegrowth in those other two 17% categories that make up a little more than a third of the gmv flowing through affirm >> i think in 2020 the travel and ticketing is the 4% one. >> i figured >> funny fact, maybe not so funny, 2019 was a major investment year for us as we brought on lots and lots of partners in travel in 2020, the first of the year, it was not a travel year it's an interesting timing with the 4% is really the lack of travel in play which we very much hope to see improve incidentally we are seeing it improve. the others are fashion and beauty which incidentally sped up over the holiday period people are expecting to be seen.

also about a quarter of our customers that we surveyed were buying travel during the holiday period, and so that's also growing. in general consumer sentiment has really been all about we've been cooped up for a long time. >> people have to put on makeup for those bumble profiles, i suppose. so let's talk about peloton because they've had some challenges getting bikes out at some point does that become a factor that you have to talk more about because they are such a large customer and it could be a factor to you getting the revenue that otherwise would be flowing through to affirm? >> first of all, we love peloton. they've been a fantastic partner and we've been a great partner to them as well. our business outside peloton accelerated, grew 40% faster in the non-peloton portfolio part of our business in the prior quarter. and so i think that's good news

for affirm that says, i think, jon, literally chuckled when someone asked about the earnings call, consumer demand slowing down well, it is a result of incredible demand and as a partner we see that. my sense is everything is going to be probably fine in that partnership for us we're very happy with heavily investing in all the other partners that we have. >> now we like to remember origin stories and you and elon musk were both at paypal early on you're one of the kind of godfathers of fintech because of that now elon musk at tesla recently began building up this hoard of bitcoin because he wants to be able to transact, let people buy

teslas with bitcoin. right now affirm is not accepting bitcoin as a method of repayment, i believe what's your take on the role of bitcoin in this fintech ecosystem? >> well, first of all, i think -- i'm a known crypto skeptic so i'm very careful. that said it is incredible how bitcoin and all the currencies have grown i think at some point skeptic or not you have to listen to the markets. maybe we'll start with dogecoin. it is something that you have to pay attention to, i think. mastercard a couple days ago announced they think bitcoin is something they will consider seriously inside their network if you have an asset at this point, i'm not sure if you'll be able to spend it but if it becomes an exchange folks want to use to buy their pelotons and sporting goods and outdoor, we will have to consider it

>> i'm curious to know, max, obviously this is becoming a very top priority question for corporate leaders whether or not they're willing to invest in at least bitcoin on the heels of the 10k out of tesla so far uber, gm this week, paypal last night on our air said not yet i wonder are you sensing reluctance at least on the part of enterprise companies to doing this directly? does it remain a consumer story in your mind for now >> you know, again, i think it's a slow but steady waking up process where corporate players are saying, all right, it's very real it's well past the idea of being excited about. everyone is looking at it and asking the question is this an investment class to consider, is this a currency people want to

watch appreciate my guess is we are in the early stages of corporate awakening. >> and i assume, i mean, to tie it back to affirm and your general view, your long-term view, the consumers, especially millennials and gen-z, their trust in traditional financial institutions has eroded and they're searching out alternatives maybe bitcoin is one of them that's the ongoing thesis behind the model of affirm, right >> exactly right we are seeing massive growth in the segment, all the products that we bring to the markets are built around bringing financial control, certainty and safety back into the hands of the consumer and letting them do more with their money. bitcoin is a parallel type of

product because it is designed to bring money to the people, democratize payment. >> max, what kind of shifts are you seeing in consumer behavior as we get further into 2021, willingness to spend, concerns about job loss, job stability, is any of that showing up in the patterns you see >> absolutely. a couple of random factoids. stimulus, i think governments, whatever your political views are does not get enough. i think stimulus was incredibly important thing that our government has done for its people we have products we offer to our customers in the overall agenda of just letting them with their money and saw meaningful increases in our savings deposits as consumers started

receiving their checks last year when the government issued the stimulus in that sense we see people in the ecosystem but also start to go feel a little bit more comfortable spend ing. in the affirm universe people are more planned about their spending holiday shopping started earlier and deals started early. the growth toward black friday/cyber monday was setting an increasingly rapid drumbeat as people were thinking how am i going to spend my money, how do i get my gift, et cetera half the customers said they would move almost entirely to online shopping for their holidays, which is significantly more the shift from off line to

online is very powerful. i don't think we're going back to full scale off line >> that's interesting for a digital leaning part of the ecosystem like affirm. i also want to ask about some of the fallout of this chip shortage that we've seen across so many industries and the reason why we're talking about the impact on the auto industry and a 9% gmv category for you. i wonder if perhaps as new cars get more difficult to purchase you are seeing more people either fixing up cars, buying auto related equipment to improve cars perhaps just spending on getting a new one flat out >> the dominant case for the

autopart segment for people who have a relationship -- and so a lot of this is people are saying i want to add the feature to my car. i am not an auto guy i'm a bicycle guy. i'm probably insulting someone's good taste in cars we've seen a demand in auto enthusiasm and that part is growing. i think that's probably something, but as we do not do auto loans i couldn't speak to what's going on in new car or used car finance >> okay. so less fixing of their cars in the general sense perhaps, more chrome and those kind of after market car show type add-ons, huh? >> that's certainly a very passionate segment we love serving them because folks have an unbelievable love

for what they're buying and what affirm lets people do is afford things safely and comfortably. i have this, i love it, it's expensive. i will pay for it. in that sense it's right to with a we're all about. >> max levchin, founder and ceo of affirm. thank you. good to see you. >> thank you >> go grease lightning check out shares of survey monkey down 16% on weaker than expected guidance. we'll watch that on the heels of their quarter.

hey, our worker's comp insurance is expiring. should i just renew it? yeah, sure. hey there, small business owner. pie insurance here with some sweet advice to stop you from overpaying on worker's comp. try pie instead and save up to 30%. thirty percent? really? sure! get a quote in 3 minutes at easyaspie.com. that is easy. so, need another reminder? no, i'm good. reminder for what? oh. ho ho, yeah! need

worker's comp insurance? get a quote in 3 minutes at easyaspie.com. all month long here on cnbc and "squawk alley" we're observing black history month. b.e.t. founder and contributor on his defining moment >> black entertainment television in 1991 became the first african-american company publicly traded on the new york stock exchange my team and i rang the bell signifying that we were a publicly traded company participating in the u.s. economy. the fact that we were first, the fact we symbolized what black americans can do if given an opportunity was one of the proudest days of my life in business >> more of those great stories next week. hnn'fu sryad to cnbc.com for josos llto

zocdoc and scheduling online companies are partnering with the city of chicago to streamline the vaccination process. joining us to discuss is the ceo of zocdoc, oliver, welcome back. good to have you again >> good to be here, thank you. >> we're definitely getting into that period where mpeople are going to ask legitimately how do i go about doing this? looks like for you chicago will

be an important city can you tell us about the tools and how it will work >> yeah, you're right. it's like finding a need until a haystack to get your vaccine these days this is a problem that's already solved we did a great job as a society in public/private partnerships developing the vaccines. but now go through their own trial and error process to try and find out how to actually distribute it we can help with just finding the last 13 years and we have been making health care accessible and indicating with multiple different players and for chicago we created a central site where you can see the various players that distribute the vaccine and as a consumer you don't have to go to ten different sides to be told there is no vaccine available. big disclaimer, there's still a vaccine shortage, but at least you can look at one and find out when it's available. >> right >> speaking of shortages, we've

been hearing a lot about federal officials and people in the private sector about the promise, i guess, you could argue of the month of march more likely the promise of the month of april i assume you've tried to gain that out is that when you see a real flip in the supply/demand equation? >> for one, we just need to make it easier for patients to get access to this it's not effective and it's a huge hurdle because you have to spend hours on various websites or call centers to get access to this vaccine this is surprisingly hard, but on zocdoc we can help you book vaccine in a minute and we need to make sure that we don't overburden patients to do this there is obviously, pent-up demand right now and if you are a couple of months out as you just did is you will run into a population that's more reluctant and you can do that and we can help with that and that's our

core business and we do that for free with the city of chicago and i stand ready to do this with any other city or provider that's in the process of distributing the vaccines. >> it's john ford. i want to talk about zocdoc yourself you say you're profitable with the variable revenue model that you shifted to recently. tell us more detail about that transition and how it works. >> yeah. that was a momentous transition for us we started out over a decade ago as a subscription service where every doctor paid the same price, but it just created a hurdle for doctors to come on. we have since changed this model to one where doctors can join for free and then just pay a fee for every time a new patient books with them. our assumption was that lowering the threshold would getm more doctors to sign up and the

states, and the provider numbers are up 50% and more and all of the other states are in similar trajectory so we are energized by this and they're one of the great events of 2020 for us. >> investors like ipos these days and if you've got accelerating growth and you're profitable, that sounds like a pretty nice combination, why not go public here >> that's a question that i get a lot and if you look at what we did over the last 12 months we finished our business model transition and we saw the accelerating growth and we also very quickly transitioned into telehealth, right? during the pandemic, we built one of the largest telehealth in the country and you know, more than 10,000 providers are participating in this and we expanded helping out in the pandemic by organizing the vaccine effort so we have a lot to do right now

and that's what's mostly on my mind. >> so that's a great question to end on because it's an analog to all of the other questions we have about streaming versus going to the movies, about, working remote versus going into the office is telehealth going to -- i assume we're looking at a period of deceleration once it's safe to see your doctor in person or maybe not and the conveniences is what takes over from here telehealth is here to stay in one shape or form, but what's clear to me is they don't want to go to one side for one person and there's no telehealth vaccine and for the same reason there's no telepizza you are joined with the treatment. they don't want to go to one website for in-person and one for telehealth and one for prescriptions and for another one to have price transparency

and zocdoc is the only hybrid platform that has both in-person and telehealth available and we are really well positioned to serve the consumer holistically as their one-stop shop >> congratulations on the funding round which is important to mention, as well and we love talking to you about the future of medicine. it's obviously changing before our eyes thanks, oliver >> thank you so much. >> keep your eyes this morning on alphabet. citi, a bit conflicted they take the target off to the top pick list and get more on that on cnbc.com we're back in just a minute.

ready to shine from the inside out? try nature's bounty hair, skin and nails gummies. the number one brand to support beautiful hair, glowing skin, and healthy nails. and try advanced, now with two times more biotin.

in case you missed it, chappelle show is back on netflix today ending a long-running dispute over the show's rights. dave schapelle made an announcement in a ten-minute instagram post redemption song, in that instagram post he says and i quote, i never asked comedy central for anything. if you remember, i said i'm

going to my real boss, and i came to you, referring to the audience, because i know where my power lies. reminds me of the reddit revolution a bit >> that's true he really did crowd source that negotiation, john, but it does sort of also bring to mind the notion of story telling ability and i.e. disney versus netflix and animation and so forth, but also library a lot of the intellectual properties are so important and a lot of that is in the vault. an interesting thing making the rounds on twitter, the avalon, estimating that the apple watch is worn on 100 million wrists passing that milestone last december and approximately 10% of iphone users doubling up with the watch. remember when wearables was a question mark as it pertained to apple? >> remember, but now they've got the watch. they've got the air pods, the

air pods max what they're charging a mortgage payment for and they appear to be getting it >> next week, guys, it's going to be another -- earnings are definitely cooling down, but we'll get retail and we'll get walmart and big travel names including hilton, marriott and trip adviser, so have a good weekend, good long weekend we'll see you tuesday and for now let's get back to headquarters and melissa and the half. >> welcome to the halftime report i'm melissa lee in for scott wapner stocks are on pace for another week of gains and record inflows into technology. what is sig nooling about where this market goes from here we'll discuss and debate the next steps for your money with the investment committee johning us for the hour, jim lebenthal, pete najarian and jenny harrington from gilman hill asset management and let's get a check on the markets here in a little bit of a pause after we closed at record high