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Zoom’s largest revenue segment - 62 percent - comes from companies with more than 10 employees, but customers with 10 or fewer employees are growing much faster, making up 38 percent of the company’s revenue, up from 20 percent at the end of last year. Above, Santa Claus and his elf Pipkin talk to children on Zoom on November 27 in Newquay, England, for a hospital event.

Corporate users are more likely to have the paid version - and they’re less likely to turn off their service, when, say, a vaccine makes it possible to meet people in person.Įven Santa is on Zoom.

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In other words, Zoom might be nearing market saturation because so many people already have an account.Īnd being popular with the masses doesn’t necessarily lead to more income, especially since Zoom has a popular free tier with a 40-minute call limit as well as free unlimited usage for K-12 students. “A lot of customers who would buy Zoom have already got it.”

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“Customers are still using the platform, you’re just not seeing the volume of new customers coming on as it was in the past six months,” Charlie Rogers, a software research analyst at 7Park Data, told Recode. But Zoom downloads have slowed from highs earlier in the pandemic. Zoom had double the number of app downloads in October as Google Hangouts, and four times as many as Microsoft Teams or Google Meet. In October, monthly visits to Zoom were three times higher than visits to Google’s Meet and Hangouts combined, according to the firm, which can’t track web visits to Microsoft Teams because it doesn’t have its own domain distinct from. US traffic to Zoom’s website is nearly 30 times what it was in the beginning of the year, according to data from online analytics firm SimilarWeb. But that enthusiasm among users hasn’t translated to sales at the same scale. Now, Zoom is not only more popular than Webex, a videoconferencing service that’s been around since the 1990s, Zoom appears more popular than all of its competitors. Just nine years ago, disaffected Webex engineer Eric Yuan left Cisco to found Zoom. “Hopefully we provide a good enough service - and it’s my true intention that we provide a good enough service - that people want to use us, calamity or not,” Aparna Bawa, Zoom’s chief operating officer, told Recode. Zoom, for its part, says it welcomes a vaccine, despite the stock dips. It’s still up nearly 500 percent from this time last year, and Zoom has more than quadrupled sales year over year. Zoom’s stock dropped nearly 20 percent in November after the news that Pfizer’s vaccine was highly effective in late-stage trials. Perhaps most pressing, with multiple viable coronavirus vaccines likely to start distribution, we might not need to video chat so much next year. Slack, another best-of-breed workplace app that was acquired by Salesforce this week, also comes with a video component. Microsoft Teams, which has a Zoom-like videoconferencing feature, is essentially free for companies paying for Microsoft’s Office suite. What’s more, businesses that are cutting costs during a recession are less amenable to additional spending on software when they can lean on the contracts they already have. Giant software companies like Microsoft, Cisco, and Google have mostly caught up on video chat technology, offering vastly better products than they did before Zoom entered the scene. Now, as we close in on two years since Zoom’s public debut, numerous headwinds make the company’s future less certain. The company’s revenue is four times what it was in 2019. Zoom was the most-downloaded iPhone and iPad app of the year, beating perennial favorites like Instagram and YouTube. At this time last year, Zoom had on average 10 million daily meeting participants. It was one of several videoconferencing options already out there, but it captured the public imagination and market share more than most. As people joked at the time: Having a corporate Zoom account was the new having a car. For many, it became an indispensable lifeline to the outside world, with a free option that limited calls to 40 minutes and an unlimited paid option that enabled people to do many of the things they used to do in person. Not only did that mean a sharp rise in Zoom meetings for the millions newly working from home, but also Zoom birthdays and baby showers for everyone else. One year later, the world was in lockdown for the coronavirus pandemic, and Zoom went from being a niche business software popular among tech companies to the way people did just about everything. At the time, it was known for being a rarity: a newly public tech company that actually turned a profit.

Zoom started trading on the stock market in April 2019.

If 2020 was the year Zoom rode the pandemic to skyrocketing success, 2021 could be the year the videoconferencing company comes back down to Earth.

Zoom pricing