Zoom video chat app unveils new products as stock drops

As countries reopen and millions of people head into offices, video collaboration and chat app Zoom has seen a massive erosion in its market value – nearly 80% – from its 2020 peak.

Demand for Zoom has skyrocketed over the two years of the pandemic as companies closed offices and employees had to work from home.

Distance learning and telemedicine have also given Zoom Video’s cloud services a boost.

Now, Zoom’s growth has slowed as in-person meetings resume and schools/universities reopen.

Zoom is now experiencing a transition year in 2022.

Alarmed by its slow user growth, the company unveiled the latest Zoom platform innovations to help businesses improve the customer and employee experience for the new ‘work n’ workforce. anywhere”.

For example, “Zoom IQ for Sales” is a conversational intelligence solution for sales professionals, as well as new Zoom Events and Webinar features such as backstage and webinar session branding aimed at placing the engagement at the center of the experience and to transform the way we work. , connect and collaborate.

New product announcements helped Zoom’s stock zoom 8% on Wednesday.

“Following our recent launch of Zoom Contact Center, Zoom IQ for Sales and our latest Zoom Events innovations mark new milestones in Zoom’s journey to set new heights for customer experiences and flexible workforce collaboration. work,” said Oded Gal, chief product officer at Zoom.



(Only the title and image of this report may have been edited by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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