Most to all of those working or socializing from home are more than likely to be joining the craze facing our new stay-at-home culture, Zoom. The San Jose-based tech company is servicing a truly captivated market and providing much-needed human interaction to 13 million monthly active users (The Verge
After going public in April 2019, Zoom Video (ZM) shares soared 80 percent to reach a market capitalization of $14.4 billion (Marketwatch
) on its first day under IPO. Now, facing even higher stock value – rising 130 percent amid the Coronavirus outbreak – Zoom is a brand currently valued at $39 billion. (The Street
“We strive to empower our customers to accomplish more with our video-first unified communications platform,” said Eric S. Yuan, founder and chief executive officer, Zoom, in the company’s latestfiscal report
. “This is evidenced by
Following this report, the viral outbreak of COVID-19 shook societies and governments, enforcing lockdown procedures and, simultaneously, placing Zoom as one of the most closely watched stocks on the market. Microsoft Teams and Skype are the reigning giants of the video conferencing world, but with outliers such as Zoom and Slack racing up the user ladder, the battle for human connection is now suddenly more tangible than ever before.
What’s more, the brand launched the Zoom Phone connected service to 11 countries for easy international phone calls at the start of March, just before the Coronavirus lockdown procedures in Europe and the U.S. began, building on the usability of the brand’s offering even more.
“We received great feedback from Zoom Phone customers in all 11 countries that recently completed beta programs, and we’re thrilled to be able to offer general availability for the service throughout those countries,” said Graeme Geddes, head, Zoom Phone. “Today’s announcements signal our continued commitment to ensuring our customers are happy and to making Zoom Phone more widely available, accessible and easy to use.”
Adding 2.22 million active users in 2020 to the whole of 2019’s 1.99 million, the rapid expansion of Zoom is leaving users, investors, competitors and even potential licensees watching the brand as closely as the Wall Street wolves themselves.
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