From 10 million daily meeting participants in December 2019, the app surged to 200 million in March and then 300 million in April. In January and February alone, as the corona crisis only began unfolding, Zoom acquired 2.2 million new users – more than in all of 2019. Simply put, it’s now the world’s most famous video conferencing app, and its growth in 2020 has been nothing short of meteoric. 2020 – the year of ZoomĪs hundreds of millions of people adjusted to working and studying from home, Zoom became absolutely indispensable. The company’s headquarters is located in San Jose, California. Zoom went public in April 2019, and its market cap reached $16bn after just one day of trading. In 2017 it became a unicorn startup, reaching a market cap of $1bn (£732m, €821m), though the company didn’t yield any profit until 2019. By 2013, the video conference platform had one million users. Its very first B2B client was Stanford University. Zoom Video Communications, Inc was founded in 2011 by Eric Yuan, who remains its chairman and CEO.
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Some of the best examples are Zoom, Netflix, Slack, Rocu, Shopify and Docusign. These include all kinds of services that make remote working easier and provide entertainment and shopping opportunities during lockdown. In 2020, we’ve witnessed the rise of the so-called “COVID stocks” – companies that greatly benefited from the pandemic. Is Zoom still a good buy in 2021? Read our analysis and Zoom (ZM) stock forecast below.
![zoom share price zoom share price](https://www.economist.com/img/b/608/634/90/sites/default/files/images/print-edition/20201121_WWC404.png)
Right now the stock is quite expensive at $340, and some worry that the price might drop as more people get vaccinated against Covid-19 and go back to the office. Zoom was one of the biggest Nasdaq-100 stars of 2020, gaining 400 per cent.