Since the pandemic, zoom has been a part of our day-to-day life. Whether it would be an office meeting or online classes without zoom, it's an incomplete thing. Pandemic has separated us, but the only thing that kept us close is the Zoom app. When everyone was panicking and didn't know what to do or how to protect our lives and still contact each other, Zoom made it possible for us. And this directly contributed to the increasing zoom app profits, which were more significant than the previous fiscal years.
But have you ever thought about how the Zoom app works and how it makes a profit out of our meetings or from our online classes? We're quite sure that this question has popped up in your curious mind at least once. So in this blog, we will discuss all things related to zoom, from its working to Zoom app profits.
Zoom App Profits Before and After Pandemic
Most of us started to use Zoom when the pandemic started, but it doesn't mean that zoom suddenly emerged in the pandemic. It launched in 2013 but came into focus after a pandemic because of its easy-to-use features. So let's see how Zoom app profits and growth have propelled since its launch.
As Zoom is not new, it has already reached the valuation of $1 billion in 2017, and in 2019 zoom was listed in the stock market, and the stock that priced at $36 was trading for $65 on the first day of listing, and then shares started to fall but still zoom ended 2019 above the red line. Till December 2019, zoom had approximately 10 million users, but due to the need of the hour, its growth was propelled by such a range that its users reached up to 300 million in a matter of 5 months.
In 2020 the revenue of zoom in the whole financial year was $622 million, and the revenue of only Q2 in 2021 is $1.021 billion. No doubt that the future of Zoom is so much brighter because the Zoom app profits are increasing day by day as the revenue is increasing 317% year on year. The valuation of zoom crossed $100 billion in the pandemic time.
How is Zoom Making Money During Lockdown?
As we have seen all the facts of zoom like its users, profit, and revenue. Let's move forward and know how zoom makes money and the working of this app. First, let's see how it works. It is so easy to use, and its working is so flawless; that's why it has gained such popularity over other apps. You don't need to buy any subscription to join a Zoom meeting.
You can simply download the app and go through the instructions in your invitation email. You have to enter a code provided to you in an email, and you can join a meeting, and if you want to conduct a session on Zoom you have to sign up on the Zoom app, and you can start your meeting. The basic plan is free, but you have to get a paid subscription to conduct if you are hosting a large congregation for an extended duration for a more seamless experience.
That's how zoom is making money from its customers. It has four subscriptions: Zoom Rooms, Zoom Phone, Zoom Events and Webinars, and Zoom United.
Zoom Rooms are nothing but a virtual Conference room for big organizations. It comes with a 30-day free trial, and if you want to continue after that, you have to pay $49 per month for one room.
Zoom phone is just an addition of a traditional calling service to an existing zoom service. You have to purchase it for $10 per month, and it comes with features like call recording, auto attendant, messaging, and many more.
By using zoom events and webinars, you can host web conferences online, and it comes at the cost of $79 per month per license, and up to 500 people can attend this conference. While the webinar is for a single session, zoom events are helpful to connect many sessions, and it has features like registration, ticketing, etc. Its cost is $99 per month, and up to 500 people can attend this.
As the revenue is increasing, the future of Zoom is also bright. You might think that most of the companies are returning to normal and starting office, so the future of Zoom might be in trouble. However, still, there is a large chunk of employees who want to work remotely. Also, the pandemic has not completely ended. Zoom is still dominating the video conferencing space. As per the demand for remote working, Zoom is also looking forward to expanding its presence to other countries.
Zoom has grown tremendously as the situation arose due to the Covid-19 pandemic. Undoubtedly, many apps offer the same service, but the working of Zoom makes it unique from all other services available in the market. It provides you with high-quality video conferencing with other effective tools that help you run your meetings, conferences, etc webinars, or online classes flawlessly.
Zoom updates its service at regular intervals so that users will not face any issues while using it. The notification will pop up to update the zoom so that you won't miss any new zoom updates. Zoom updates are of three types: Web Only, Mandatory, and Optional. All these updates make the working of zoom easy for the user.
Zoom app profits : Verdict
Zoom has helped a lot in the pandemic to stay connected with its exciting features and service. With the nationwide lockdown, every business is suffering, and it is hard to communicate with each other, but Zoom makes it possible. The most important thing that resulted from Zoom is that education didn't stop due to the lockdown. The Zoom app is simple and easy to use so that from children to elders, everyone can use it. No wonder Zoom app profits skyrocketed!
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