Zoom-The Video Conferencing App’s Business Blooms Due To LockDown

If there is one business that is not being affected by the lockdown, Coronavirus has bestowed upon us, it is online business and all associated businesses. Zoom, for example, is a video conference calling app that has benefitted the most in the past few weeks as the demand for online business and education increased.

The originator and founder of the Zoom App, Eric Yuan, says that it was out of a mere dream of being able to look at his far off girlfriend in his early years that compelled him to come up with something like this. After which he polished his idea into developing an App destined to join business ends and make business more convenient.  He says that Zoom wasn’t aimed at providing a simple video call for personal use rather for conference calling and business meetings.

Zoom allows up to 99 people to join in a conference call at a time and this is why it has been the only solution to continue with the economic and education activities left at a halt today. According to Apptopia  Zoom was downloaded 2.13 Million times around the world on 23 March, the announced date of global lockdown. The company reported an 85% increase in revenue which makes $166.6 Million (£132 Million) in the three months to the end of October.

Moreover, the company’s share price raised from under $70 to as high as $150, that gives the company a whopping market value of $42 Billion! And this boom in the Zoom business has made its founder and chief executive Eric Yuan the 182nd richest person of the world.

Although it is a huge blast for Yuan and his team but they too whole-heartedly wish that this curse gets lifted soon. They send-in their warm-wishes to the world and with it an idea to change the way the world has been moving. In an interview, Yuan said:

“I hope this crisis can be over very, very soon, but one thing I know for sure is that companies will learn this is the way to work,” he said. “I am pretty sure almost every company will be thinking about it and [will] say, ‘hey, maybe working from home makes sense’, and maybe let every employee work from home, maybe once a week. Previously, a lot of businesses didn’t even want to try.”