We are building this new solution with the same scalability and trusted architecture that has made Zoom the platform of choice for businesses around the world. “Video Engagement Center will be a flexible, easy-to-use solution that connects businesses and their customers. However, Zoom recently announced it will launch its own contact center solution, Zoom Video Engagement Center, in early 2022. The acquisition of Five9 would have reduced Zoom’s reliance on companies like Twilio, a Silicon Valley-based cloud communications platform with enterprise customers such as ING and Instacart, that compete with Five9.
With this enterprise market in mind, Zoom continues to face competition from bigger, established names in the business sector, including: It will focus efforts on converting monthly business subscribers to annual contracts, IBD says. 10, 2021, it had fallen to $185.25.Īs employees return to offices and family and friends begin gathering in person, Zoom will continue to focus on enterprise accounts that provide $100,000 in annual recurring revenue. This was more than five times its January 2020 price, when it hovered in the $70s. Zoom (ZM) stock prices, likewise, soared, reaching a high of more than $500 per share by September 2020. The number of meeting participants worldwide rose by 2,900%, Business of Apps reported. Zoom had carved a place as the go-to source for work-at-home employees and family and friends desperate for social interaction during the COVID-19 pandemic and resulting quarantine that began on March 19, 2020, with California as the first state to issue a stay-at-home order. In March 2020, the company logged 200 million daily users, CNBC reported.
The company raised $752 million from its initial public offering, according to Investor’s Business Daily.īut it was nearly a full year later that the video conferencing app began to show its real potential. The company went public on April 18, 2019, with the stock closing up 72% from the opening bid and trading at $62.