The video conference service became known through the Corona crisis. But what after the pandemic?
Hardly any other company has benefited as much from the Corona crisis. The video conferencing service Zoom was hardly known to anyone before spring 2020. After that, Zoom began to grow explosively. Mainly driven by home office and social distancing.
For the current financial year, the company is aiming for a sales increase of at least 42 percent. Investors celebrated the fresh quarterly figures and the forecast with a price jump of around 9 percent at times in after-hours trading on Monday.
In the past fiscal year, which ended at the end of January, sales jumped from 623 million to 2.65 billion dollars (2.20 billion euros).
What comes after the home office?
The big question, however, is how far Zoom can still grow – or whether the company has largely exhausted its market potential in the corona boom with lockdowns and home work. And how will video conferencing continue after the end of the pandemic.
Zoom's plan for the future is to use its strong position in video conferences as a bridgehead in order to permanently establish itself in the future everyday office life. The key to this is telephony.
Zoom Phone
Zoom Phone is intended to replace the company's previous telephone systems and at the same time allow seamless integration with video conferencing. In the past quarter, Zoom won telephone customers, among others, the University of South Carolina with 21,000 lines and the world's largest music company Universal Music.
Zoom had moved into a new league with the Corona crisis. The company was originally supposed to provide video conferencing for companies. During the pandemic, however, it was not only used in companies: private individuals also use Zoom for all sorts of occasions – from family reunions to yoga classes.
📣 Calling all office managers! We know between onboarding, tackling admin duties, & coordinating with IT departments, you need technology that simplifies your life. Read the reasons why Zoom Phone is a favorite among other office managers: https://t.co/QAiegFyTJh pic.twitter.com/AFTHdngq2H
– Zoom (@zoom_us) February 24, 2021
Zoom's customer structure
Zoom still earns its money from doing business with larger companies. At the end of the fiscal year, Zoom had over 467,000 customers with more than ten employees – around 33,000 added within three months. Such customers brought in 63 percent of the proceeds.
With its telephony offer, Zoom has so far won 10,700 customers with more than ten employees. He also wants to increasingly establish Zoom as a platform for online events, said founder and boss Eric Yuan in a video conference with analysts.
