Zoom generated $2.65 billion in revenue in 2020

With thousands and thousands of individuals locked in their houses because of the coronavirus, Zoom The demand for a lot of conferencing purposes has elevated.

Zoom, was downloaded thousands and thousands of instances final 12 months in many cities in the USA, UK and Europe, making it essentially the most downloaded enterprise app worldwide.

The corporate was provided to the general public in 2019 and began to be traded on the Nasdaq Index on the US inventory exchanges. At the moment, its market worth rose to $ 16 billion. ZoomAt the moment, due to the coronavirus epidemic, its market worth has elevated to 100 billion {dollars}.

2.65 BILLION DOLLARS IN REVENUE

Zoom introduced that it elevated its revenues by 326 p.c in comparison with the earlier 12 months, producing $2.65 billion in revenue. The corporate’s revenue in the final quarter elevated by 369 p.c to $882.5 million.

Zoom founder and CEO Eric Yuan stated that they closed an ideal 12 months for them. Thanking its customers for being most well-liked and trusted, Yuan acknowledged that they may proceed to work meticulously in 2021 as properly.

ERIC YUAN RANKS AT THE RICHEST

The growing reputation of Zoom because of the coronavirus epidemic added a fortune to the corporate’s founder and CEO, Eric Yuan.

After the rise in Zoom shares, Eric Yuan turned one of many 100 richest folks in the world. It’s acknowledged that Yuan’s shares in Zoom are value about $ 17 billion.