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The Boom of Zoom: Earning Shoot UP in 3 Months Than In Last Year

Amid the Covid-19 pandemic as many companies shut down or went bankrupt, Zoom has gained popularity among the masses – be it for office meetings or conducting online classes for students. The video conferencing app owing to its user-friendly compatibility has become a favorite of many, its stocks soaring by 23%, a swift rise of by almost 355% since last year. The company’s sales have skyrocketed from $622.3 million in all of 2019 to $663.5 million in May, June, and July. In a statement, Eric S. Yuan, Founder and CEO of Zoom said, “The COVID-19 crisis has driven higher demand for distributed, face-to-face interactions and collaboration using Zoom.” Despite accusations against the company for illegal data storing and offering it to third party users, the app has become a household name in various countries across the globe and helped to boost its sales.