![]() ![]() ![]() Its revenue was up 367% in the most recent quarter, compared to the same quarter in 2019. Its stock is up roughly 6x since the beginning of the year. And that changed the way Zoom thinks about practically everything.įew companies have benefited more from the pandemic than Zoom. "The pandemic expanded Zoom's reach from a business platform to a central part of daily life as people worldwide transitioned to working remotely, distance learning, and virtual gatherings," Zoom CMO Janine Pelosi said. But the company clearly saw both an opportunity to grow during trying times, and an obligation to try and help where it could. 2020 was a banner year for videochat no matter who it came from, and it seemed like every app and device on the planet now has its own way to video chat. So Yuan and Zoom decided, firmly, to stay focused on businesses.Īnd yet here we are. We realized that's not realistic, because there's feature conflict." A consumer app would build fun filters and lenses those features would just be in the way for business users. "We were too ambitious" in the early days of Zoom, he said, "with business and consumer. Trying to be both a consumer and business tool, CEO Eric Yuan told me around the same time, would actually be a mistake. "We don't want to be a consumer product," he said. But he and Zoom were happy to leave those uses to FaceTime and Skype. "We are still a business application," he said, "and we don't see ourselves moving away from that." There were some prosumers using Zoom outside of the 9-to-5, he said, and he certainly understood that there were compelling uses for consumer videochat. It's just that Zoom had decided, fairly definitively, it never really wanted to be any of those things.Īt the beginning of 2020, just before the pandemic upended the world and the rest of the year, Zoom Chief Product Officer Oded Gal told me that Zoom had no plans to become a consumer application. It's not that nobody at Zoom had ever imagined being a home for happy hours, book clubs, yoga classes, elementary schools and doctor visits. Coming into 2020, the company was in great shape: It was growing quickly, making money and becoming an essential tool for tech-forward businesses everywhere. ![]()
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