How Zoom is Zooming, and So is Our Anxiety
The current Coronavirus Pandemic has brought misery to many, and death to over 1.5 million people worldwide. A huge number of businesses are under severe financial strain, or have ceased to trade. The major exceptions are tech companies who conduct all of their business online especially, as I have mentioned earlier, Amazon. As the World has gone into lockdown of various degrees, some other tech winners in the pandemic have been the providers of videoconferencing services, especially the omnipresent Zoom. I suspect most people had never heard of Zoom before 2020, but widespread use has led the company’s revenues to leap 355% to $663.5 million for the quarter ending 31 July, exceeding analysts’ expectations of $500.5 million. In the same period profits soared to $186 million, while customer growth was up 458% compared with the same period in 2019.
