The coronavirus epidemic is the most terrible, incomprehensible, and massive disaster in recent years, which caused the collapse of many large companies. It was the pandemic that received the status of the main reason for the introduction of a self-isolation regime. People were obliged to stay at home permanently, and study and work were transferred to a distance format. This fact influenced the growth in the level of popularity of online platforms designed to create reliable and convenient communication channels between people. The Zoom project, which almost no one heard of until 2019, managed to cope with a huge influx of users, reaching a capitalization of $ 51.4 billion.
Tough start and uncertain future
So, Zoom is a functional program that allows you to organize video conferencing, online meetings, and lessons in the format of distance learning. The brand logo looks like a blue circle on a white background, with a schematic drawing of a video camera inscribed in it. Most people on the planet have to meet the presented icon today. However, such popularity did not always follow the platform, because at the very start the company faced a huge number of problems, including financial ones.
The Zoom VC project itself received official registration in 2011. It was founded by engineer Eric Yuan, the central specialist of a video conferencing module called WebEx. At that time, Eric worked in the position for about 14 years, managing more than 800 real employees. However, the brand itself has been incredibly poorly promoted. Cisco management did not plan to annex the market, missing out on a huge number of opportunities, and not wanting to adjust the software for mobile platforms.
It was then that Eric Yuan left WebEx, taking about 40 engineers with him. He creates the Zoom VC video structure, which was finally released in 2013. The popularity of the project increased exponentially: by June 2014, the total number of program users exceeded ten million. A couple of years later, employees of 65,000 companies actively interacted with Zoom, arranging business meetings there for a variety of purposes.
The era of the coronavirus
In 2019 (just before the “era of coronavirus”), the Zoom project goes IPO, and on the first day of trading, the organization’s valuation skyrockets by 72%. The market offered the team owner about $ 16 billion, which was 50 times more than the project’s annual revenue. However, the success presented is just the beginning of Zoom’s incredible annexation into the world of video conferencing software. Then came the coronavirus, with all the restrictions, self-isolation measures, and distance learning.
The results of the epidemic for the brainchild of Eric Yuan are as follows – about 200 million active users, 50 million software downloads from Google Play alone, the opening of a huge number of physical data centers around the world, and so on. Zoom has covered literally all profile areas: from remote masterclasses to meditation, fitness training, talent shows, and lectures in higher educational institutions.
Of course, in 2022, in addition to Zoom, there are other high-quality types of software on the market designed for organizing video conferencing. For example, the classic Skype, with its logo in the form of a circle on a white background, with the letter “S” enclosed in it. Microsoft Teams works the same for users. The main promoted picture of this software is a couple of sketchy men next to the abbreviation “T”. However, none of the platforms mentioned managed to achieve the popularity inherent in the development of Eric Yuan. The Chinese-American billionaire managed to create and establish a truly convenient service available to a huge number of people around the world.
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