Zoom is one of a handful of major providers of such tools, including Skype and WebEx.īefore the coronavirus pandemic, tools like these were mostly used in offices - and most big companies had adopted them. The increasing globalization of commerce and the rise of remote work mean that for the average company, it’s crucial to have easy tools for quick meetings or collaboration. Video conferencing has grown increasingly popular in offices around the globe because of its ability to enable the type of face-to-face communication that previously could only happen if you got on a plane. All this before the company had what would undoubtedly be its global coming-out party in the form of pandemic-related lockdowns. In fiscal year 2019, Zoom reported total revenue of more than $600 million, which represented a nearly 90% increase from the previous year. An estimated 2,500 people work at Zoom with offices in North America, Europe, Asia, and Australia. The easy-to-use interface quickly caught on with corporate workers, which propelled Zoom to a more than $350 million initial public offering (IPO) in 2019. Founded in 2011 by a former engineer, up until 2020, Zoom’s video conferencing tools were most at home in a board room, connecting workers and businesses across time zones on a face-to-face basis. Company Historyįor most of its nine-year existence, Zoom was a tool used predominantly by business professionals. Thanks to the COVID-19 pandemic, that’s all changed, as Zoom has become the default method of video chatting for millions of people.
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