The Complete Information about  Zoom

Eric Yuan founded zoom. Born in China in 1970, he holds degrees in applied mathematics and mining engineering. Yuan would have been inspired to see Bill Gates. He was dreaming of doing something by cherishing that dream. After hearing a speech by Bill Gates in Japan in 1995, he planned to go to the United States. He knows little English. He was finally able to return to Silicon Valley in the ’90s after his US visa was revoked nine times in a row. He initially joined WebEx Communications as an engineer, working primarily on video conferencing platforms. WebEx achieved considerable success while Yuan was in charge. At that time, they were able to earn about 600 million dollars in revenue every year.

In 2006, Sisco Systems bought WebEx for 3.2 billion. Although WebEx was very popular at the time, its software had some flaws. Their connectivity was weak. Audio and video lag was occasional, and even the installation process was quite a hassle. However, as the video conferencing app did not have much competition in the market, WebEx could run their business well then. Yuan was able to anticipate that users were genuinely dissatisfied with WebEx. He thought of creating a straightforward and error-free video calling service that would satisfy users and cut their business. When he sent a proposal to Cisco, they did not show much interest. But the stubborn Yuan is not one to give up. He brought forty engineers from WebEx and took the initiative to create a new video conferencing app.

In 2011, Yuan established Zoom with  3 million from investors. While other video conferencing apps, such as Skype, initially offered customers their services with audio calls, Zoom first looked at the video call feature. Yuan’s real goal was to create a reliable and convenient video calling app. The company launched a beta version of Zoom, gaining considerable acceptance among the customers. After various tests, the Zoom app was launched in January 2013.

Zoom hit sixes from the start. In May of that year, the number of their users exceeded 1 million. Over the next few years, investors became interested in investing heavily behind the zoom, which was able to gain a foothold in the market. In December 2019, the number of Zoom users reached 10 million. Zoom’s revenue that year was  330.5 million. They are able to reach a very good position in a very short time as a start-up company. However, 2020 was the golden period of Zoom. When the global lockdown was announced due to covid-19, the skyrocketing popularity of Zoom. In May last year, the number of users exceeded 300 million. Zoom’s revenue rose 169 percent to  326.2 million in the first quarter of the year. Companies Market Cap As of January 2022, Zoom had a market capitalization of. 52.54 billion. As of July 31, 2020, Zoom has made a profit of  63.5 million in the last three months, surpassing analysts’ expectations of  505 million, which is 355 percent more than before. Compared to 2019, in the middle of 2020, the profit increased to 166 million dollars. The number of subscribers increased by 458 percent.

Zoom is the most user-friendly of all the video conferencing apps currently on the market. Zoom can automatically attach itself to almost all browsers, including Chrome, Safari, Firefox. It is possible to have a cloud meeting with the help of zoom without downloading the app again. That’s why if you click on the link provided by the host of the meeting room, you will be directly connected to the zoom meeting. There is no obligation to download or install the app separately for using Zoom, saving users a lot of time.

Moreover, the zoom interface is quite sleek, tidy, and easy to arrange with all the features. Gallery view mode lets you zoom in on multiple user view options on the same screen. As a result, Zoom’s conference call is quite convenient and attractive from the rest of the video conferencing app.

One of the reasons for the success of Zoom is that it has gained the trust of the people by providing more services than other companies for free. While the free version of Skype allows only 50 users to make conference calls at once, Zoom offers up to 100 people with up to 40 minutes of free video conferencing.

The primary source of revenue for Zoom is its paid subscription packages. The package includes all basic features, including user management, admin features to control, 24-hour meeting duration. For which you have to spend only. 14.99 per month. Zoom’s other rivals, on the other hand, charge more dollars to offer the same benefits. For example, by purchasing the Zoom Business package for 19.99, a total of 300 people with all the features of Pro get a chance to participate in the video call. In addition to Unlimited cloud storage in the Enterprise package at the same price, a total of thousands can take part in video calls. On the other hand, WebEx offers video conferencing to a maximum of 200 people for Business 26.95 in their Business package. Zoom has become an affordable medium for offices and business meetings starting from school, college, and university due to the low cost and convenience.

Another reason behind Zoom’s excellent user experience is that the app is wonderfully optimized. Zoom consumes relatively less data than all other apps. So they can give a good video calling experience even with a weak internet connection. Zoom has developed their app without any bugs or errors. Again, the zoom app is not seen to crash too much. As a result, its users are quite satisfied with the subject. That’s why this zoom has captured everyone’s favorite top spot for video meetings.

Eric Yuan attaches great importance to being happy or smiling. According to him, happiness is the principle of running his organization. Regarding the early events of the zoom, Yuan said,

“I used to ask myself, ‘What kind of organization do I want to work for in the next ten, fifteen, or twenty years? The answer is straightforward. That’s where I would be happiest.’

He added,

“I always tell my staff, wake up every morning and ask yourself, is your mind good today? If it’s good, come to the office quickly. And if it’s not good, you can stay home. I don’t need to stress my staff. They know what to do. “

Despite the sheer features and great service, there are questions about its security. At that time, a word called ‘zoom-bombing’ became very popular. Because, in one of the many bugs that existed in the Zoom app, hackers could intercept the conversations of others. That’s why many big businesses and government agencies stopped using Zoom. Negative news began to spread around. Anyone can join a video call at any time by simply clicking on the link to join the video conference. Again, Zoom was accused of sharing user data with third parties without informing the users.

Many users claim that Zoom’s iOS app is smuggling users’ data to Facebook. But the company wanted to find a quick solution without hiding anything. Because, at first, all the apps have some security flaws. They believed that security threats could be overcome but that the future of Zoom as an emerging entity would be bleak if the information were withheld from the public. As a result, due to security and privacy issues, Zoom announced in April 2020 that they would not bring any new features to their app for 90 days. Over a period of three months, they have been working to fix these issues. New Chief Information Security Officers and some security engineers have been appointed to enhance security further. Zoom also organizes weekly webinars to find out any questions you may have about the organization—own blog for information updates.

Other competitors in Zoom include Google Meet, Skype, or the Microsoft team, with companies like Google and Microsoft offering other services beyond the video conferencing app. However, outside of video conferencing, Zoom has not started anything on a large scale yet. Zoomtopia has been hosting an annual ‘User Conference’ since 2016. The two-day event showcases the current Zoom version’s ‘first-hand look’ to vendors and partners ranging from Zoom first-hand event. It discusses future video conferencing technology for Zoom. The biggest Zoomtopia event of Zoom is organized in 2019. More than two and a half thousand participants attended the event.

Zoom in statistics

• The Zoom mobile app was downloaded 475 million times in 2020. The app was downloaded 23 million times in September 2021. 16 million have been downloaded from the Play Store, and the remaining 6 million from iOS.
• About 300 million meeting users are added to Zoom every day. But in December 2019, that number was 10 million. After reaching 100 million in March 2020, an average of 300 million participants zoomed in on April 21, 2020.
• In July 2021, Zoom’s revenue was  1.021 billion, up 7.63% from 958 million in April. However, in January 2020, their revenue was 18 million. After the Corona outbreak, it rose sharply to 328 million in April 2020. Since then, it has only doubled or tripled every four months.
• According to Sensor Tower, in August 2021, the App Store and Google Play combined to make Zoom the eighth most popular non-gaming app.
• Young people are seen to use the zoom app more. 28% of users are 18-24 years old, 23% are 25-34%, 22% are 35-49 years old.

Eric Yuan is optimistic about the bright future of both his business and virtual communications. He believes that one-day artificial intelligence will be able to translate one language into another in the blink of an eye. As a result, despite being a different language, people will be able to talk directly to Zoom without knowing that language.