Difference between revisions of "Zoom"
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| + | Zoom Video Communications, Inc. (Zoom) is an American communications technology company headquartered in San Jose, California. It provides videotelephony and online chat services through a cloud-based peer-to-peer software platform and is used for teleconferencing, telecommuting, distance education, and social relations. Zoom's business strategy focuses on providing an easier to use product than competitors, as well as cost savings, which include minimizing computational costs at the infrastructure level and having a high degree of employee efficiency. | ||
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| + | Eric Yuan, a former Cisco engineer and executive, founded Zoom in 2011, and launched its software in 2013.[5] Zoom's aggressive revenue growth, and perceived ease-of-use and reliability of its software, resulted in a $1 billion valuation in 2017, making it a "unicorn" company.[6] The company first became profitable in 2019, and completed an initial public offering that year.[8] The company joined the NASDAQ-100 stock index on April 30, 2020. | ||
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| + | Beginning in early 2020, Zoom's software usage saw a significant global increase following the introduction of quarantine measures adopted in response to the COVID-19 pandemic. Its software products have faced public and media scrutiny related to security and privacy issues. A portion of Zoom's workforce is based in China, which has given rise to surveillance and censorship concerns. | ||
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Revision as of 13:37, 20 September 2020
Zoom Video Communications, Inc. (Zoom) is an American communications technology company headquartered in San Jose, California. It provides videotelephony and online chat services through a cloud-based peer-to-peer software platform and is used for teleconferencing, telecommuting, distance education, and social relations. Zoom's business strategy focuses on providing an easier to use product than competitors, as well as cost savings, which include minimizing computational costs at the infrastructure level and having a high degree of employee efficiency.
Eric Yuan, a former Cisco engineer and executive, founded Zoom in 2011, and launched its software in 2013.[5] Zoom's aggressive revenue growth, and perceived ease-of-use and reliability of its software, resulted in a $1 billion valuation in 2017, making it a "unicorn" company.[6] The company first became profitable in 2019, and completed an initial public offering that year.[8] The company joined the NASDAQ-100 stock index on April 30, 2020.
Beginning in early 2020, Zoom's software usage saw a significant global increase following the introduction of quarantine measures adopted in response to the COVID-19 pandemic. Its software products have faced public and media scrutiny related to security and privacy issues. A portion of Zoom's workforce is based in China, which has given rise to surveillance and censorship concerns.