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Zoom Video Communications, Inc. (ZM) Valuation Measures & Financial Statistics.
ZM Stock Price | Zoom Video Communications Inc. Stock Quote (U.S.: Nasdaq) | MarketWatch - Zoom profit
Zoom is a video conferencing app, geared towards business usage. It was founded in by Eric Yuan, and launched in January While gathering considerable popularity and coming to run profitably in the following years, Zoom truly entered the public consciousness during the coronavirus pandemic of It was to Zoom that users across the world turned to stay in touch during the lockdown effected to stop the spread of the virus.
Prior to founding Zoom, Yuan had helped to build WebEx, in the decade prior to its acquisition by Cisco in Yuan, originally from China, famously emigrated to the US after repeatedly failing to get a visa ninth time lucky!
He was confident, however, that he could develop a product more enjoyable to use than the incumbents. While shares would come to decline from the early peak, Zoom ended running profitably. Revenue was generated through a premium version with added features over the standard free offering. It was in , as we mention above, however, that Zoom really took off. With people confined to their homes, apps that allowed us to stay in touch became central to our day-to-day lives.
People in their droves chose Zoom over other options. Ease of access and careful work to keep latency below milliseconds the maximum before conversations start to feel unnatural have been cited as potential reasons.
Yuan stated in a blog post that over the course of May , Zoom was seeing million daily meeting participants. The following month, this figure had risen to million. This compares to 10 million in December The UK cabinet and 90, schools in 20 countries were among new users of the app.
The rapid growth in popularity revealed some worrying issues, however. For instance, Zoom was found to be sending unauthorised data to Facebook. Accordingly, Zoom saw itself banned by governments for official business Canada and Taiwan , numerous organisations SpaceX and Nasa and school boards New York and Taiwan. In the aforementioned blog, Yuan detailed measures being taken by Zoom to rectify the situation, citing its intended usage as an app for businesses and not individuals.
Zoom seems to be have managed to whether the storm, and is still one of the most business communication applications. Note: Daily meeting participants can be counted more than once, so it is not an accurate reflection of DAUs. Source: Zoom, Recode. Note: Zoom changed its terminology in , enterprise customers are those with more than 10 users. Zoom joined a small list of apps, which includes TikTok and Pokemon Go, that have been downloaded over million times in a single quarter Sensor Tower.
By signing up you agree to our privacy policy. You can opt out anytime. Zoom Revenue and Usage Statistics Mansoor Iqbal Updated: May 4, Share Download Report. Eric Yuan founder, CEO. Meeting participants. March December Business customers.
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