Zoom shares pop after users grow from 200 million to 300 million in days

Eric Yuan, founder and chief government officer of Zoom Video Communications Inc., heart, celebrates throughout the firm’s preliminary public providing on the Nasdaq MarketSite in New York on April 18, 2019.

Victor J. Blue | Bloomberg | Getty Images

Shares of Zoom popped greater than 9% on Thursday after the corporate introduced its variety of every day customers grew 50% up to now month. 

More than 300 million individuals used Zoom’s videoconferencing software program on April 22, CEO Eric Yuan introduced in a webinar.

Zoom has seen a spike in customers because the Covid-19 pandemic has pushed many corporations and faculties to distant work. Zoom introduced on April 1 it had 200 million people utilizing its software program in March, after a number of stay-at-home mandates had been applied, from about 10 million in December.

“Clearly the Zoom platform is providing an incredibly valuable service to our global users during this challenging time,” Yuan mentioned. 

The surge in customers has additionally sparked criticism round Zoom’s privacy and security. The firm introduced it will halt new features for the next 90 days whereas it really works to enhance the platform’s privateness.

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Tarun Banerjee

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