Who knew about Zoom before Covid-19? I guess no one or only a bunch of handful people would be the right answer to this question. However with the Covid-19 affecting or lives physically and mentally, and the lockdown imposed by governments throughout the world, people had to sit at home. However sitting at home with the fear of contracting virus doesn’t mean that all the daily tasks were on halt, we were working from home and students were taking online classes, thanks to the video conferencing app, Zoom. Due to this, the video conferencing app has witnessed a sudden spike in its revenues. and Zoom revenues have quadrupled this time.
Zoom Revenues once again quadrupled year over year
Being used more than other video conferencing app and keeping in view its popularity, Zoom started adding more features to its platforms and the results are evident. The revenues of Zoom are once again quadrupled year over year. Now when we are a victim of the second wave of coronavirus, Zoom reported $777.2 million in revenue during Q3, which is 4x of its revenues from the same quarter last year.
It means during the last two quarters, the company was able to quadruple its revenues. Other video conferencing app including Google Meet, Slack and Microsoft Teams are also performing pretty well and have got users’ attention. However, when it comes to zoom, the company was lucky enough to win the race by having a user-friendly platform.
Zoom has not revealed how many new users it had got in total but the figures clearly show that its customers have grown and will keep on growing in times to come. One question that is usually asked is that when the pandemic will go away, will zoom still have these many users? Well only the time can give the real answer to this question, but one thing is sure, many companies will still keep on working from home which means virtual meetings.
It might be possible that the company will witness a sudden drop in users but that will still be better than its initial figures prior to the pandemic.