Zoom usage soars to 300 million despite security concerns
Zoom's stock continues to climb during the pandemicBy Shawn Knight
In brief: Zoom CEO Eric Yuan said during a recent webinar that the service now has over 300 million daily users, a 50 percent increase over the 200 million users it had last month and significantly more than the 10 million members it had at the end of 2019.
Yuan said that they are thrilled and honored to continue to earn the trust of so many enterprises, hospitals teachers and customers throughout the world.
Zoom, along with a handful of other video conferencing apps, have seen heavy adoption during the Covid-19 outbreak as millions have been forced to work from home amid containment efforts. And for Yuan, the timing couldn't have been much better.
The executive made his way to the US in 1997 after his visa application bad been denied eight times prior. He got a job with video conferencing software company WebEx which was bought out by Cisco roughly a decade later. In 2011, he elected to leave and start his own company.
Zoom was founded that same year and went public in April 2019.
The sudden surge in users hasn't been all rainbows and unicorns for Zoom, however, as it has also come with a healthy dose of security concerns. Earlier this month, the company put a 90-day hold on new features to dedicate all of its resources to identifying and fixing security issues.
Zoom's share value is up nearly 12 percent on the day as of writing.
Masthead credit: Girts Ragelis