Independent work Theme: Zoom Video Communications, Inc.
Omonov Temurmalik
(F1) Group FFT 21-01
Zoom Video Communications, Inc.
Zoom Video Communications, Inc- American communications technology company. It’s a cloud-based video conferencing service you can use to virtually meet with others-either by video or audio. It provides videotelephony and only one chat services through a cloud-based peer-to-peer software platform and is used for teleconferencing, telecommuting, distance education, and social relations.
PROFILE: BMW
Type: Public
Founded: April 21. 2011
Founder: Eric Yuan
Headquarters: San Jose, California, U.S.
Services: Videotelephony, Online chat,
Business telephone systems
Revenue Increase: $2.7 billion (2021)
Operating income: Increase $660 million
Net income Increase: $672 million
Total assets Increase: $5.3 billion
Total equity Increase: $3.861 billion
Number of employees: 4,422
Eric Yuan
Zoom's aggressive revenue growth, and perceived ease-of-use and reliability of its software, resulted in a $1 billion valuation in 2017, making it a "unicorn" company. The company first became profitable in 2019, and completed an initial public offering that year. The company joined the NASDAQ-100 stock index on April 30, 2020.
Beginning in early 2020, Zoom's software usage saw a remarkable global increase after quarantine measures were adopted in response to the COVID-19 pandemic. Its software products have faced public and media scrutiny related to security and privacy issues.
Zoom had 400 000 people sign up within the first month. By the end of its first year of operations, Zoom had amassed 200 million meeting minutes.
In April 2020, Zoom announced the milestone of 300 million daily meeting participants.
Today, the software registers over 3.3 trillion annual meeting minutes. And the market cap of the publicly-traded company exceeds $75 billion.
Zoom had over 4,422 employees, with 1,396 in the United States and 1,136 international locations.
ZOOM offers customized support and pricing plans for its large corporate customers. Both individual and corporate users are the customer base for ZOOM globally.
ZOOM’s main selling products are:
-Meeting and Chat
-Rooms and Workspaces
-Video webinar and conference connector
-Zoom for developers
-Zoom for marketplaces
-On Zoom (BETA Version)
Zoom app users tend to be relatively young. Half of the users of the Zoom Cloud Meetings app for iPhone & iPad are under 35 years old.
With such rapid growth since the pandemic, it’s easy to see how the company has risen to a market cap of more than $75 billion. In fact, the platform is so mainstream that “Zoom” is now a used as a verb. TV episodes are created entirely from Zoom meetings. And there are entire guides dedicated to helping people use the dozens of features inside of Zoom.
It will be interesting to see how Zoom fares now that many new startups are entering the business video communication space.
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