Competing with internet platforms
Thanks to a strong rebound on the coronavirus pandemic and the resulting restrictions such as remote working and self-isolation this year, online conferencing platform Zoom has experienced a real boom.
In Q2 of fiscal 2021, Zoom posted revenue of $663.5 million, up from all of 2019, and it is now considering expanding its service to email, messenger messenger and calendaring.
The answer to the question of why Zoom would want to offer additional services to the market after it has started making huge revenues from its video services is that it has recently started distributing vaccines in the West. It brings us closer to the time when people will be back in the office and students will be back in school. By the time the end of the pandemic arrives, Zoom will need to find something to help it stay afloat.
Analysts said that with the massive introduction of vaccines in 2020, Zoom's videoconferencing advantages are likely to be fairly marginal, so its complementary products will be key to helping it grow.
To date, the company offers a cloud-based phone service called Zoom Phone and conference room products called Zoom Rooms, in addition to online meeting services.