With the changes in the dynamics of business and socializing because of the pandemic, Zoom quickly became an essential part of everyone’s lives. It became an integral platform for families, schools, companies, workout coaches, entrepreneurs, and even for couples who had their weddings amid the pandemic. But as the health restrictions ease, Zoom still predicts continued growth beyond the pandemic.
At the onset of the pandemic, Zoom obtained over 200 million users in March as society pushed for quarantining and social distancing. COVID-19 has definitely redefined corporate life and pushed leaders to think outside the box to continually provide opportunities for their employees and serve the community. With this, Zoom played a significant role, making company meetings and webinars possible online. By April of 2020, the numbers continued to rise to 300 million users worldwide.
The availability of Zoom at anyone’s disposal urged employers to realize that business operations can still take place while having their employees working remotely from their homes. The videoconferencing platform negated the idea of the traditional office set-up, and experts predict that some companies will permanently adapt the current system even after the pandemic.
Besides, companies, schools, churches, celebrities, and other organizations have also experienced the benefits of the video conferencing platform. Zoom made gatherings that would have required people to drive for hours or ride planes possible through the digital space. Zoom paved the way for hybrid workspaces around the world.
“Organizations are shifting from addressing their immediate business continuity needs to supporting a future of working anywhere, leaning anywhere, and connecting anywhere on Zoom’s video-first platform,” Zoom CEO Eric Yuan told ABC News.
Even with the rollout of COVID-19 vaccines across the globe, Zoom sees a steady growth. Its current status as a household staple promises a positive future for the company. Furthermore, there have been issues eclipsing the vaccines distributed by Johnson & Johnson and AstraZeneca, where it has been proven that such vaccines have caused blood clots among some of its recipients. With this, Zoom’s stock prices continued to increase. Long-term investors also saw how the recent vaccine problem would affect the economy in the new normal.
Simultaneously, investors are still flocking to buy stocks as the company released a statement that it is expecting a 41% increase this year after quadrupling its income to a staggering $2.56 billion the previous fiscal year. Over the past year, Zoom’s share price has tripled and was ahead at nearly 10% in after-hours trading last March.
Siti Panighari, an analyst at Mizuho Securities, told CNBC in an interview that experts see Zoom still taking a vital role in the post-COVID society as it redefined and provided companies with an innovative solution to communicate during the pandemic. “The pandemic has also increased the recognition of its long-term importance in the new normal, post-pandemic workplace that will emerge over the coming years,” said Panighari.
Zoom has truly changed and affected life as people know it. It encouraged people worldwide to rethink human connection by leveraging more on technology. Without a doubt, Zoom is here to stay. To learn more about Zoom, visit its website.