The COVID-19 pandemic is wreaking havoc on the global economy! While a large number of businesses are staring at unprecedented losses due to the situation prevailing, few have reached peak growth! As the government across the world has placed its citizens under lockdown, video conferencing app downloads soared to a record high, especially Zoom.
Zoom: 169% growth from the previous year!
Founded 9 years ago by Chinese-American businessman Eric Yuan, Zoom has reported revenue growth of a huge 169% from the previous year in its first-quarter earnings report with total revenue of $328.2 million (approx €290 million). Furthermore, the company has around 265,400 customers with more than 10 employees, a number that’s grown 354%.