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Eric Yuan, CEO of Zoom Video Communications takes part in a bell ringing ceremony at the NASDAQ MarketSite in New York Reuters
- Zoom is introducing OnZoom, a new way to host events — free and paid — using the popular videoconferencing tool.
- Zoom has come to be used to host all kinds of events amid the pandemic, from board meetings and conferences to fitness classes and concerts. The new OnZoom platform includes the ability to charge for tickets, as well as a directory of public event listings.
- Zoom is also launching a new kind of app integration, called a Zapp, that can bring information from productivity tools like Dropbox, Slack, or Asana directly into a video chat.
- Facebook launched its own features for paid videoconferencing events over the summer.
- Visit Business Insider’s homepage for more stories.
As the pandemic drags on, Zoom is releasing a
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(Reuters) – Global stocks scaled five-week highs on Monday on hopes that more government stimulus was coming and the world economy was on the mend, while the Chinese yuan retreated from a 17-month high after a policy move over the weekend. Investor optimism that Washington will work through talks that have repeatedly stalled to deliver another round of fiscal stimulus drove major U.S. stock indices to highs last seen in early September. Hopes that the top Wall Street banks will announce a decent set of third-quarter earnings this week that show business activity was not as weak as feared also helped. Slugged by stronger investor demand for risk, the U.S. dollar was pinned near a three-week low and gold, another safe-haven asset, stayed below a three-week high. The U.S. bond market is closed on Monday for Columbus Day. The cheer over the economic outlook and government stimulus did not boost
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In the space of just a few months,
Zoom Video Communications
has become a household name—even a verb. But is that all the company is?
That question hangs over what has been the tech industry’s most remarkable success story in recent years. Born of a desire to improve on clunky workplace collaboration tools like WebEx, Zoom found its business upended by the pandemic in the best possible way. For millions confined to their homes, Zoom was suddenly the only way to have face-to-face conversations with people not sharing the same dwelling.
That has resulted in astounding business growth. Zoom was generating a little over $600 million in annual revenue before the pandemic struck. For the trailing 12-month period ended in July, that had more than doubled to $1.3 billion. For Zoom’s fiscal year ending in January, Wall Street projects revenue of nearly $2.4 billion.
But the stock’s sky-high multiple of