At the start of this year, it’s likely that many had ever heard of Zoom. Now this video service has become one of the most popular on the planet with huge demand being driven by the current health crisis and millions of us staying at home.
Zoom, which allows up to 100 people to join a video chat, has seen record growth over the past few months with the firm revealing a first-quarter total revenue of $328.2 million which is up a whopping 169% year-over-year.
During the peak of people being locked indoors, Zoom said it had more 300 million daily users taking part in virtual meetings on the platform. Whilst many are using the free service, which allows them to chat for a limited time, Zoom’s paying customers have more than tripled since the beginning of 2020.
Zoom has a number of price plans which includes it’s Pro version for £11.99 or business option for £15.99 per month. Both of these paid-for options include admin controls and 24-hour sessions rather than the 40-minute limited when using Zoom for free.
With so many more users now subscribing, Zoom says it expects sales as high as $1.8bn (£1.4bn) this year – that’s roughly double what it forecast in March.
“We were humbled by the accelerated adoption of the Zoom platform around the globe in Q1. The COVID-19 crisis has driven higher demand for distributed, face-to-face interactions and collaboration using Zoom,” said Eric S. Yuan, Founder and Chief Executive Officer of Zoom.
“Use cases have grown rapidly as people integrated Zoom into their work, learning, and personal lives.
“I am proud of our Zoom employees who dedicated themselves to support customers and the global community during this crisis. With their tremendous efforts, we were able to provide high-quality video services to new and existing customers.”
Zoom isn’t the only chat app available on the market and many of its rivals have been rushing to push out updates in a bid to fight back against this rapidly growing service.
WhatsApp recently doubled the maximum limit for video calls and Facebook has introduced an entirely-new service – known as Messenger Rooms – where up to 50 people from Instagram, WhatsApp and Messenger can video call one another.
Google has also decided to open-up its Google Meet service to everyone for free in the hope that more people will use it to chat.
It’s likely that many people will change the way they work and meet and these video messaging services could be set for even bigger growth in the future.
Published at Sat, 06 Jun 2020 06:05:00 +0000