Zoom a success story
Zoom a success story
Many people think that
all industries and business fields are affected negatively by this COVID19
Crisis, but that is wrong thought as there is many industries and companies
gained much profit and there is more interest in these industries and had many customers.
One of these
industries is online apps especially online meeting apps.
One the is field
leaders is Zoom App which is a video conferencing app, geared towards business
usage. It was founded in 2011, by Eric Yuan, and launched in January 2013. While
gathering considerable popularity and coming to run profitably in the following
years, Zoom truly entered the public consciousness during the corona-virus
pandemic of 2020. It was to Zoom that users across the world turned to stay in
touch during the lock-down effected to stop the spread of the virus.
with a million Zoom
users logged within a few months (May 2013), and evolutionary Zoom had become a
unicorn, reaching a valuation of $1 billion in Jan 2017. This climbed to just
short of $16 billion as the company went public in April 2019. Stocks initially
priced at $36 were trading for $65 on the first day of trading. While shares
would come to decline from the early peak, Zoom ended 2019 running profitably.
Revenue was generated through a premium version with added features over the
standard free offering.
It was in 2020, 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 because of ease of access and free offering.
Zoom usage shot up in
March 2020, Zoom was seeing 200 million daily meeting participants. The
following month, this figure had risen to 300 million. This compares to 10 million in December 2019.
The UK cabinet and 90,000 schools in 20 countries were among new users of the
app.
Zoom daily downloads
in January 2020 was 56,000 while in February 2020 was 1.7 million and in March
2020 was 2.13 million with growth 3700% than January 2020.
Zoom achieved revenue
in Q1 2019 $60.1 million while in Q1 2020 achieved $122 million more than 100%
growth than the same quarter and expected to finish Q2 2020 with revenue $145.8
million.
One of the reasons of
achieving this great success the R&D team of this app. It has many changes
and development after some talks and messages about low security and privacy of
this app and they respond rapidly to these comments.
Zoom is a success
story we need to learn from it many lessons but always you should keep in mind
that to Do Business With Your Own School
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