Zoom’s revenues have increased by 169% from last year in the previous quarter. During the last quarter, Zoom r…Read More
Despite its potential security flaws and privacy issues, Zoom has struck gold. The app, which was a rather unfancied video calling platform at the turn of the year, is now one of the most commonly used by professionals, teachers and others across the world. The recent quarterly numbers show that Zoom is here to stay.
According to a report by CNBC, Zoom’s revenues have increased by 169% from last year in the previous quarter. During the last quarter, Zoom reported a total revenue of $328 million whereas in the corresponding quarter last year it had a revenue of $122 million.
The company didn’t reveal how many people used the app in the last couple of months. However, it did say that an “unprecedented number of free participants” used the app. Some numbers that were revealed by the company. Zoom has more than 2.65 lakh customers/companies that have more than 10 employees. This number, compared to last year, has grown by 354%. Over 1.75 lakh licenses were added for new customers
The CNBC report quotes Bernstein analysts who have estimated that Zoom app has had 173 million active users by the end of May. The analysts cited data from app analytics company Apptopia and said that on March 4, Zoom had just about 14 million users.
Kelly Steckelberg, finance chief, Zoom told analysts that the company had given a one-time bonus to all of its non-commissioned employees. This bonus was about two weeks of salary and was given to pay for any additional costs that may have to be incurred to avoid any interruption in their work during the pandemic.
Since its rise in popularity, there have been several security issues that have cropped up. Zoom has been taking measures and introducing new features to solve the,.