American communication company Zoom app grew by 369% in revenue. In the last 3 months, the company’s revenue had increased to USD 882.5 million (about Rs 6,481 crore). Zoom app is a video communication platform. Which has received exponential growth during the Covid-19 pandemic.
The company reported that its net income in the 4th quarter of 2020 was USD 260.4 million (about Rs 1,912 crore) or USD 0.87 (about Rs 64). The company has now more than 10 employees for every 467,100 customers. This is almost 470% higher than the same quarter last financial year.
Zoom’s founder and CEO, Eric S. Yuan, said, “We are working with a trusted partner around the globe. That is why our company’s financial output is also improving. We are confident that we will strengthen the growth of our innovative video communication platform.
Total revenue for the Fiscal Year 2021 was USD 2,651.4 million (about 20,000 crore rupees). The company’s annual growth was 326%. The company said that in the 1st quarter of the financial year 2022, the company expects total revenue to cross USD 905 million (about Rs 6,649 crore).
During the lockdown in the year 2020, the Home Ministry had issued an advisory regarding the uses of Zoom app. It was said that the app is not safe for the user. The app is not encrypted end-to-end.
Wherein, anyone can read its message. The app can also be hacked easily. However, the app received a new release on 30 May 2020 and this ended all security-related problems.