diff --git a/functions/README.md b/functions/README.md
index 00d6cb32e9..15028979f7 100644
--- a/functions/README.md
+++ b/functions/README.md
@@ -2,13 +2,12 @@
 
 # Google Cloud Functions Node.js Samples
 
-[Cloud Functions][functions_docs] is a lightweight, event-based, asynchronous
-compute solution that allows you to create small, single-purpose functions that
-respond to Cloud events without the need to manage a server or a runtime
-environment.
+[Cloud Run functions](https://cloud.google.com/functions/docs/concepts/overview) is a lightweight, event-based, asynchronous compute solution that allows you to create small, single-purpose functions that respond to Cloud events without the need to manage a server or a runtime environment.
 
-[functions_signup]: https://docs.google.com/a/google.com/forms/d/1WQNWPK3xdLnw4oXPT_AIVR9-gd6DLo5ZIucyxzSQ5fQ/viewform
-[functions_docs]: https://cloud.google.com/functions/docs/
+There are two versions of Cloud Run functions:
+
+* **Cloud Run functions**, formerly known as Cloud Functions (2nd gen), which deploys your function as services on Cloud Run, allowing you to trigger them using Eventarc and Pub/Sub. Cloud Run functions are created using `gcloud functions` or `gcloud run`. Samples for Cloud Run functions can be found in the [`functions/v2`](v2/) folder.
+* **Cloud Run functions (1st gen)**, formerly known as Cloud Functions (1st gen), the original version of functions with limited event triggers and configurability. Cloud Run functions (1st gen) are created using `gcloud functions --no-gen2`. Samples for Cloud Run functions (1st generation) can be found in the current `functions/` folder.
 
 ## Setup
 
@@ -20,8 +19,7 @@ environment.
 ## Samples
 
 * [Hello World](helloworld/)
-* [Cloud Pub/Sub](pubsub/)
-* [Cloud Spanner](spanner/)
+* [Cloud Pub/Sub](v2/helloPubSub)
 * [HTTP](http/)
 * [Logging & Monitoring](log/)
 * [OCR (Optical Character Recognition)](ocr/)