Zoom’s net worth sky rockets amidst pandemic; Surpasses market capital of Expedia and American Airlines

0 0

Covid-19 has ensured that everyone across the globe is stuck in their homes amidst the lockdown and with no certain treatment yet found for the disease, staying away is perhaps the best thing one can do. It has also impacted the daily lives of professionals across the world. The corporate world seems to have found a way to combat this challenge and the one tool that has made lives easier is Zoom.

Zoom Video Communications, started in 2011, took its time to hit the ground running, but it seems like they finally are one of the biggest players in the American and global market. With corporates all across the globe unanimously choosing to continue their operations through the Zoom app.

It has become a one-stop destination for companies to host internal meetings as well as to negotiate work with clients. Teachers and professors are using it to conduct classes for students also stuck at home and there have emerged several other use-cases. The unexpected surge in usage has seen Zoom rise up the ladder very swiftly.

Interestingly, Zoom has now surpassed some of USA’s most esteemed organizations like American Airlines, Expedia and Hilton in terms of market capitalization. The market cap of the video-conferencing app stands at $31.73 billion, while the combined value of Hilton ($18.26 billion), American Airlines ($7.91 billion) and Expedia ($ 4.35 billion) stood at $30.52 billion – As on 8th April 2020.

A fact that the aviation and service industries have taken a bullet for the society played a part in these companies suffering. Going by how fast they are going up, their values are going to skyrocket further if the lockdown situation is going to continue as it is for another two months.

Despite controversies, Zoom continues to dominate the market

In the last couple of weeks, rumors on social media suggested that Zoom video calls are being hacked and a lot of confidential information discussed in these meetings is being exposed.

However, these rumors, as yet, haven’t had a significant impact on the company as yet. They’re still doing a fine job in expanding their services and will continue to go up the ranks unless any major reliable source confirms this news. Zoom Communications has been a saving grace for many organizations and after all the years of hard work, Eric Yuan and Kerry Steckelberg’s creation is beginning to make its mark.