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Video App Zoom is Now More Valuable than 3 top US Airlines Combined

Posted by offizo on April 2, 2020
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Video Chat App Zoom- Lifeline for Working from Home

With lockdown forced everywhere to contain the spread of Coronavirus, companies are facing an unforeseeable situation for running the business. To run the business as usual everyone working from home is looking for ways to be connected with their coworkers. Since the coronavirus outbreak, video chat App “Zoom” has emerged as the most workable and usable app to connect with.

Exponential increase from the initial share prices when it first went public

As millions are forced to work from home due to the coronavirus pandemic, “Zoom” App has become one of the most downloaded apps. As per market report, the company is currently evaluated more than the top three US airlines combined. The company went public last year, currently has a market cap of US$42 billion and gained more than 2.22 million users in the first months of 2020, more users than they would have received in the entirety of 2019. As a result, by March 2020, Zoom shares rose to US$160.98 per share, a 263% increase from the initial share prices when it first went public.

Zoom was founded in 2011 by Eric Yuan, a lead engineer from Cisco Systems. It started its service in January 2013, and by January 2017 it entered the unicorn club with a valuation of US$1Billion. The company went public in 2019 and was valued just under US$16 billion by the end of its IPO.

Free high-quality video calls and sharing screens with up to 100 participants at a time is one of the major reasons among coworkers working from home. Under the free plan, the app allows you to have an unlimited one-to-one meeting and 40 minutes of the group meeting.

With no other option other than working from home, Zoom has emerged as a feasible solution during the coronavirus pandemic. As millions of users started using the application for work, its data security and privacy measures were questioned. Want to know – How Startups are working smart remotely?

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