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The video conferencing service Zoom said that its income increased by 169 percent during the first quarter of its fiscal year – from February to April 2020 -, compared to the same period of the previous year, totaling US $ 328 million, according to its financial results report presented on June 2.
“The COVID-19 crisis has fueled an increased demand for face-to-face interactions and collaborations via Zoom. Use cases have grown rapidly as people integrated Zoom into their work, learning and personal lives,” it said in the report. Eric S. Yuan, founder and CEO of the company.
The company also reported earnings of US $ 27,075 million during said quarter, a significant increase compared to the US $ 2,214 million reported during the same period of 2019.
The platform did not specify how many users have used its services in the past few months, but in the financial report Yuan said that “an unprecedented number of free participants,” including more than 100,000 primary and secondary schools, have used the service.
To the extent that theForcing millions of people to stay home, Zoom became the video meeting service of choice for many people around the world. So much so that the number of daily participants on the platform increased from 10 million in December 2019 to 200 million in March, and to 300 million in April 2020.
However, along with its popularity, the platform has faced severaland various demands. From this, Zoom released In its system and, among the most outstanding features, is AES 256-bit GCM encryption, which blocks any type of external intrusion.
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