Revenue from the Americas swelled by 265.9% year-over-year. Furthermore, revenue from all geographical areas expanded. The revenue of $2.7 billion announced for the 2021 financial year amounted to a 159.6% increase on a 3-year Compound Annual Growth Rate (CAGR) basis. Subscription to ZOOM products grew rapidly leading to an upsurge in earnings. In addition, meetings can be recorded and content can be shared through its Share Screen feature.

The growth of ZOOM was phenomenal its products are widely accepted and many people find them easy to use. Therefore, video communication platforms like ZOOM provided some succour. People had to work, school and connect with others from home.

The need to curtail the spread of the virus made physical meetings undesirable. ZOOM surged ahead in the web conferencing market against the backdrop of the COVID-19 pandemic. The oversight function of the board is carried out by ten directors which include Jonathan Chadwick, Peter Gassner, Kimberly Hammonds and Raymond McMaster. The management team of ZOOM is led by Eric Yuan, the chief executive officer and founder of the company. Keybase provides chatting and file-sharing services to users. Zoom Developer Platform was developed to enable third parties to build and integrate their applications with ZOOM. R&D spending has averaged 10.5% of revenue over the past five years. Its R&D facilities are based in the USA, India, Singapore and China. Research & Development (R&D) lies at the core of its growth strategies.

The other products of ZOOM include Zoom App Marketplace, Zoom Developer Platform, Zoom Chat and Zoom Conference Room Connector. The company launched Zoom Phone, a cloud-based telephony solution, in 2019. ZOOM provides video conferencing services through its Zoom Meetings and Zoom Webinars. It was later renamed Zoom Video Communications Inc. The company’s name was changed to Zoom Communications Inc.

Video communications inc