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An important area in Computer‐Mediated Communication (CMC) is how gender affects trust building and performance in virtual settings. This paper empirically investigates gender differences in two media, video and Instant Messaging, while performing negotiation tasks. The primary results indicate that: (1) female pairs perceive higher levels of trust than male pairs when gender information about the partner is either seen via the video channel or mutually revealed via the IM channel, and (2) male/female pairs have better performance outcomes than female pairs. The results imply that having females in the remote working teams may help teams achieve high levels of initial trust leading to cooperation and information sharing in virtual settings. In addition, the results suggest that gender diversity, as represented in male/female pairs, may be important to quality performance outcomes in collaborative work groups.