Zoom’s market value was above that of aviation giant Boeing and coffee shop chain Starbucks.
It is not a secret that the pandemic translated into an exponential moment of growth for many brands, especially those like Zoom that offered users differential remote connection possibilities. To give us an idea of what has been gained, it is enough to recognize the results of a recent analysis by App Annie, which indicates that users spent more than 23 billion dollars on application downloads during the first quarter of the year, where users Markets Dominican-Republic Mobile Database with the greatest participation are those that precisely experienced or are going through situations of massive confinement: the United States, Japan, and South Korea. In this game, applications like Zoom have registered a special growth due to the need for people to maintain communication with their loved ones as well as remote employees.
It is enough to review the numbers corresponding to the second fiscal quarter of the year, in which Zoom assured that it averaged 148.4 million monthly active users, 4,700 percent more than last year. This translated into significant revenue growth. Although it has already been warned for months about the exponential and accelerated growth of the platform, it is still striking that it reported revenues of $ 663.5 million, which represented a growth of 355 percent compared to last year. These numbers even exceed what was reported in the previous quarter, when Brother Cell Phone List grew 169 percent to $ 328 million; a behavior largely derived from the COVID-19 crisis. More interesting is to recognize that 81 percent of this income was derived from the addition of new users to its service. As expected, these numbers had an impact on the valuation of Zoom’s shares, which even managed to rank above large firms with greater support such as Starbucks and Ford. During the morning session, Zoom shares rose 33 percent to $ 432.45, bringing its market value closer to $ 122 billion.
At this level, Zoom’s market value was above that achieved jointly by two automakers combined: General Motors and Ford, as well as the value of aviation giant Boeing and the Starbucks coffee shop chain. For brands, this is an interesting wake-up call, where you can see the phenomena of competition and growth that now govern the market. While Zoom’s good quarterly results have led it to this position, the truth is that this advance could be simply circumstantial. Maintaining rhythm and growth once the “new normal” begins to be lived more in shape will be a real challenge. However, the strength gained in months by the platform cannot be ignored, which set off the alerts for its direct competitors who quickly sought to respond to this advance so as not to lose presence or strength in the market.