By Wafiya Tunnisa
COVID-19 has affected all sectors of the world. From education and tourism to health and the food industry. The world’s biggest and smallest businesses have been affected due to this climate. Yet, online platforms have somehow kept everything connected and self-paced. They are what has kept things moving.
Zoom has been the go-to video conferencing platform for all companies; the numbers prove it so. The pandemic and quarantine period have favoured this user-friendly company for sure, with up to 370 thousand participants!
Large-company chains have subscribed to the annual plan, while small businesses often stick to the monthly subscription. Individuals, too, are still making use of the free 40-minute sessions. All these plans are designed in a way that brings the chances of unsubscribing low.
These strategies have helped Zoom shares to hit the high mountains, especially in the second quarter of this year, with an overwhelming increase in sales, earnings, and profit. Reports on Zoom shares have detailed an increase of 25%. Additionally, the 2020 share price is now up by 373%. This has resulted in a massive market of Zoom scaling to $114 billion. The raw numbers approximately equal $663.5 million in revenue.
Zoom has supported varying workers of all sectors who were initially forced to work from home. It is an incredible tool for companies to practice remote communication – numbers and productivity are up!
Professional video calls and conferences have always been a part of international business chains, but reliance on Zoom for social interaction also is what has made such a difference. Video calls and chats became and continue to be key for virtual hangouts, brunches, movie nights, and numerous other happy hours. It is even anticipated that many TV broadcasts, sports events, and graduations may be organised via Zoom. As users are able to change backgrounds and live life through a different experience, all this appears sensical and doable.
Additionally, Zoom has prompted ideas for developers to create new apps and features – ones which are made to support and make the experience of video-calling as fun as possible. An example of one such app is called the ‘’Mmhmm app’’, which aims to enhance the video chat experience (Click here to learn more about Mmhmm App!).
Alongside this, Zoom is busy expanding its platform by inculcating with smart displays from Google, Facebook, and Amazon. It is likely that Zoom will eventually be available on Amazon’s Echo Show, Google’s Nest Hub Max and even on Facebook Portal. Talk of market expansion has also focused on an all-new Zoom from home device called the ‘DTEN ME’. Such a transfer from software to hardware is likely going to cause a rise in shares.
In conclusion, Zoom may keep growing for a long time yet as we settle into this new world. All users need to adjust and grow with the help provided. In this case, the help is Zoom. Still, we should remain hopeful that physical human interaction returns soon, and that we – in the meantime – do not forget what that feels like.