Asana Appoints Former RingCentral Exec As New CFO
Asana has appointed former RingCentral CFO Sonalee Parekh as its own new Chief Financial Officer.
Announced as part of Asana’s latest earnings call, which reported modest but stable growth, Parekh is replacing the outgoing CFO Tim Wan, who has served in the role since 2017. Parekh will take up the role effective September 11, 2024, with Wan remaining in an advisory position.
Asana says that Parekh will lead its global finance organisation and play a crucial role in overseeing the company’s next phase of growth and innovation.
Parekh commented:
Asana is uniquely positioned to capitalise on the opportunity to leverage AI in the work management category to drive productivity and efficiency benefits for workers across the globe. I’m excited to partner with Dustin and Asana’s seasoned management team in driving Asana’s next phase of growth.”
In operational highlights, Asana continues to double down on AI, as it did last quarter, citing business successes with its new AI Teammates solution and keen early adoption for its AI Studio Beta program. While the persistent macroeconomic headwinds and underperformance in the technology sector hinders Asana's overall growth, the company sees stabilisation in the business and notes growth in key verticals such as retail, consumer goods, and media.
Jury: Cisco Owes Almost $66Mn For Audio Conferencing Patent Infringement
A jury has ordered Cisco to pay almost $66 million after deeming it infringed a patent related to audio conferencing.
Last week, a Texas federal court jury ruled that Cisco must pay video group-chat app vendor Paltalk $65.7 million for the infringement. The jury concluded that Cisco’s Webex web-conferencing products infringed on Paltalk’s patent rights around audio-server technology for teleconferencing, specifically US Patent No. 6,683,858.
The patent pertains to a “system, method, and computer program product” that enables both mixing (such as PC-based) and non-mixing (such as phone-based) clients to join a single audio conference.
Paltalk filed the lawsuit against Cisco, headquartered in San Jose, California, in the federal court in Waco, Texas, in 2021. Cisco refuted the claims, stating that the patent was invalid.
As reported by Reuters, US District Judge Alan Albright denied Cisco’s request for a mistrial last Thursday. Cisco had stated that a mistrial was necessary because Albright “changed course” at the start of the trial regarding the interpretation of a critical element of the patent. Reuters highlighted that a Cisco spokesperson stated on Friday that the tech giant intends to challenge the verdict through post-trial motions and will appeal if necessary.
