To Zoom or Not to Zoom? What a silly question!:-)

Back in March , when video conferencing suddenly became mainstream from niche of the tech companies, there were several options to choose from giants like Google and Microsoft they had their own solution built into their ecosystem with virtually unlimited development resources to capture the momentum and win this market. Zoom was seen as small, unsecure and ‘easy to beat by these giants’ kind of solution, which is mainly a free service, so no chance to survive in this platform war.

Yesterday, Zoom released their Q2 results, which are showing actually the opposite, they are on the track to win the race to be the facto video conferencing platform.

Let’s see these numbers (https://investors.zoom.us/news-releases/news-release-details/zoom-reports-second-quarter-results-fiscal-year-2021):

·       Second quarter total revenue of $663.5 million, up 355% year-over-year vs. $500.2 million analysts forecasted

·       Zoom also raised its full-year revenue guidance by about $590 million, to between $2.37 billion and $2.39 billion. It previously forecasted between $1.78 billion and $1.80 billion in full-year revenue

·       Number of customers contributing more than $100,000 in TTM revenue up 112% year-over-year

·       Approximately 370,200 customers with more than 10 employees, up 458% year-over-year

Time will tell us how this competition ends with Google and Microsoft.

However in my view :

To Zoom or Not to Zoom? What a silly question!:-)