Zoom's revenues increased by 458 percent Due to COVID-19

 

Zoom increased the number of users from 10 million to 300 million during the pandemic process, and managed to increase its revenues in the second quarter by 458 percent compared to the same period last year.

Demand for many conference applications, especially Zoom, has increased, with millions of people closing home due to the coronavirus.

In addition, some companies have started working on their own applications to take advantage of this potential.

Zoom has been downloaded hundreds of thousands of times in the US, UK and many European cities in the past months, making it the most downloaded business app worldwide.

Established 9 years ago and serving 10 million users in December 2019, Zoom reached 300 million users in a short time and broke a record. Seeing a rapid increase in the number of users during the pandemic, Zoom's earnings continue to increase in this process.

Zoom's second quarter revenue was $ 663.5 million, with $ 328.2 million in revenue in the first 3 months of 2020. This means an increase of 458 percent compared to the same period last year. Stating that Zoom's financial income outlook for 2021 is $ 2.39 billion, CEO Eric Yuan underlined that the practice has become much more common during the coronavirus outbreak.

Some privacy issues in Zoom caused intense reactions from users. For example, in recent months, it was revealed that some of the Zoom calls were routed through Chinese data centers.

It was also determined that the application had opened some computer cameras without permission and secretly listened to some conference calls. Later, it was understood that thousands of Zoom accounts were seized as a result of the attack.

Saying that it fixed these security problems with various updates, Zoom seems to have regained the trust of the users.