Despite concerns, Zoom sales boom

New York: Surrounded by concerns over privacy and security issues, video meet app Zoom has reported $328.2 million in revenue for its quarter that ended April 30, up 169 per cent (year-over-year) as more people join its platform in the social distancing times.

The San Jose, California-based company said that 769 customers contributed more than $100,000 in TTM (trailing 12 months) revenue which was up 90 per cent from the same quarter last fiscal year, as it saw 354 per cent (year-over-year) growth in nearly 265,400 customers with more than 10 employees joining its platform.

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. Use cases have grown rapidly as people integrated Zoom into their work, learning, and personal lives, said Eric S Yuan, Founder and CEO of Zoom.

While Zoom saw its popularity soaring in the last three months, governments and law enforcement agencies also sought clarification from the video meet app over data hoarding and cyber hoarding, along with issues of unauthorised access termed as zoom-bombing.

 

Agency