Zoom is a business-oriented video conferencing program. Founded in by Eric Yuan in 2011, the company was officially launched in January of 2013
Coronavirus pandemics are when Zoom really sprang into public attention and gained a lot of fame and profitability. During the shutdown imposed to stem the spread of the virus, people throughout the globe resorted to Zoom to keep in contact, making everyone ponder how does zoom make money and how much.
However, Zoom truly took off in 2020, as we said earlier. Apps that enabled us to keep in contact were an essential part of our daily lives while individuals were confined to their houses. Overwhelmingly, people choose to use Zoom instead of any other service. Many factors, including the ease with which people may use it and the effort put into keeping latency at or below 150 milliseconds, have been identified as possible causes.
According to a blog post by Zoom’s CEO, Yuan, Zoom hosted 200 million meetings every day by the end of May 2020. It had climbed to 300 million the following month. In December 2019, the figure was 10 million. This program was downloaded by the British government as well as 90,000 schools in 20 nations.
However, the sudden rise in popularity exposed several troubling aspects. Zoom, for example, was discovered to be transferring data to Facebook that wasn’t authorized. Aside from that, it was shown to be storing user data and using an unusual interpretation of the phrase “encryption from end to end.” Consequently, governments (such as Canada and Taiwan), organizations (including NASA and SpaceX), and school boards have imposed bans on Zoom’s use in official capacities (New York and Taiwan).
There are steps Zoom is doing to correct the matter in a blog post written by Yuan, who said that the software is meant for corporations and not people. When it comes to corporate communication apps, Zoom seems to have weathered many storms.
Zoom has provided us with a wealth of information and statistics that will help you know how much and how does zoom make money. Find out more in the next paragraphs.
Zoom key statistics
● A 317 percent year-over-year rise in sales was recorded by Zoom in 2020, when it made $2.6 billion.
● This app had a 2900% increase in users during the epidemic compared to the previous year.
● The company expects to serve 470,000 businesses by the end of 2020.
● During the pandemic, Zoom’s worth surpassed $100 billion, a 383 percent increase over the value it had in 2020 January.
How Zoom Makes Money
Zoom Meetings, the company’s main business, is the primary source of revenue for Zoom. The Zoom United, Zoom Rooms, Zoom Events & Webinar, and Zoom Phone subscription-based services all contribute to Zoom’s income. Zoom Apps and OnZoom are two recent additions to the Zoom product line.
After looking at each income source separately, let’s move on to the company’s financials.
1. Zoom Meetings
With Zoom Meetings, you and your coworkers can stay in touch through voice and video. Zoom’s most popular service is also the most often utilized. Zoom chat is also available for meetings, enabling participants to exchange documents, photos, audio files, and other media.
A 40-minute time limit and a maximum of 100 participants for group meetings are included in the free plan. Pro, Business and Enterprise options are available for small teams, medium-sized organizations, and big enterprises, with features tailored to the customer’s size and requirements.
Users (usually big businesses) are able to conduct Zoom video meetings in a conference room system using Zoom rooms.
There is a 30-day free trial for all rooms. After the free trial has expired, customers may purchase a membership to Rooms for $49 per month per room if they choose to continue using the service. With each additional Zoom room, corporations must pay more money to link their conference rooms. In order to have a plan for 10 rooms, a company will have to pay $490 each month.
As an add-on to Zoom’s current service, Zoom Phone puts conventional phone features right into Zoom’s application, making Zoom an all-in-one collaboration tool that provides audio and video conferencing, messaging, and video services all in one package.
Features like call recording, auto-attendant, and more may be had for as little as $10 per month per user.
4. Zoom Events & Webinars
Online web conferences may be held by Zoom Video Webinars users. The service is available for a monthly fee of $79 per license, which covers up to 500 users. The starting fee of $79 rises in direct proportion to the amount of people attending.
For single-session and one-to-many presentations, Zoom Webinars are a good option; Zoom events, on the other hand, enable you to link several webinars. Registration and ticketing, branding events hubs, and increased reporting are all included in the event management package. It costs $99 a month per license for up to 500 people to use the Event service.
In Q2 2020, How many times Zoom was downloaded?
Zoom has joined a selected group of applications that have been downloaded in a single quarter more than 300 million times, including TikTok and Pokemon Go.
How many schools use Zoom?
More than 90,000 schools were using Zoom when the pandemic reached heights.
How many times was the mobile application of Zoom downloaded in 2020?
In 2020, Zoom was used 485 million times.
How many webinars does Zoom host?
Webinars lasting more than 45 billion minutes were held on the platform in 2020.