Zoom and its benefits that multiply during the pandemic
The video conferencing company Online Zoom and its profits multiplied between February and April compared to the same period of the previous year, an unprecedented growth for a practically unknown firm that has become ubiquitous with the COVID-19 pandemic.
During the first quarter of its fiscal year, the company based in San José (California, USA) billed $ 328 million, 169 percent more than the $ 122 million in the same period of 2019, and earned $ 27 million, 12 times more than the 2.2 million recorded in April of last year.
The company has become one of the most international symbols of the COVID-19 pandemic, since in a matter of weeks it has gone from having an almost marginal presence in the market to being a fundamental tool in the daily lives of millions of people. Schools, companies and public institutions around the world hold the meetings they used to do in person at Zoom, and the number of clients with more than ten users reached 265,400 in April, 354 percent more than a year ago.
Despite the company's resounding success over the past few months, it has also come under criticism from several fronts for its security flaws, which, for example, allow third parties to sneak into meetings to which they have not been invited and for problems with the management of user privacy.
“The COVID-19 crisis has triggered the demand for face-to-face interactions using Zoom. The number of users has grown rapidly, as people have integrated Zoom into their lives, work and education, ”said founder and CEO of Zoom Eric Yuan when presenting the accounts.