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Q4 2024

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Q4 2024

26 Feb, 2024
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Q3 2024

20 Nov, 2023
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Synonymous with video conferences

Zoom is a video conferencing and collaboration platform that allows users to hold meetings, webinars, and virtual events. Zoom was founded in 2011 by Eric Yuan, who was previously vice president at Cisco WebEx, which is one of Zoom’s toughest competitors along with Microsoft through Microsoft Teams.

Recipe for success

Zoom's business model is based on a subscription-based SaaS model. It offers free and paid plans, with the paid plans offering additional features such as longer meeting times and more participants. Zoom also generates revenue through partnerships and integrations with other software providers. The company is mostly known for its easy-to-use interface and reliability, which has made it a popular tool especially among small and medium-sized businesses.

Significantly boosted by the pandemic

Zoom has experienced explosive growth in recent years, especially since the COVID-19 pandemic forced many people to work from home. In its Q4 2021 earnings report, Zoom reported a revenue of $882.5 million, a 369% increase from the previous year. Its net income for the quarter was $260.4 million, a significant increase from the $15.3 million reported in the same quarter in the previous year.