Zoom’s Number of Customers Worldwide (2019-2022)

	Q1 2020	Q2 2020	Q3 2020	Q4 2020	Q1 2021
Number of Customers	265,400	370,200	433,700	467,100	497,000

(Actual Figures)

Zoom has a diverse range of customers from individuals to Fortune 500 corporations. The company’s current customer base spans numerous industry categories, including education, entertainment/media, finance, enterprise infrastructure, government, health care, manufacturing, non-profit/not for profit and social impact, retail/consumer products, and software/internet. In the fiscal year that ended on January 31, 2021, no single customer accounted for more than 10% of Zoom’s total revenue. The company had around 467,100 customers with more than 10 employees as of January 31, 2021.

Zoom’s customers steadily increased from 265,400 to 497,000 during the period Q1 2020 to Q1 2021, which was an 87% increase. Similarly, there was an increase of 39% between Q1 2020 and Q2 2020 when the number of customers increased from 265,400 to 370,200, which was the highest among all quarters. However, this growth rate slowed down to 17%, from 370,200 in Q2 2020 to 433,700 in Q4 2020. Between Q3 2020 and Q4 2020, the rate of growth in the number of customers was 7%. But between Q4 2020 and Q1 2021 the company witnessed the lowest growth rate among all quarters of 6%, from 467,100 to 497,000.

The COVID-19 pandemic has forced educational institutions and companies to break away from their traditional methods of functioning and adopt the work-from-home model. This, in turn, has led to a windfall for voice and video conferencing services providing companies. Zoom appears to have benefitted from this development and has added additional customers to its existing customer base.

The company has started providing new features such as filters, reactions, lighting, noise cancellation, and more control on presentations. These features will give organizations the ability to link contacts across multiple accounts, which also helps people to easily and securely search for meetings, chats, and even phone contacts. Through these new features, the company expects an increase in its customer base.

Company Overview

Zoom is a public limited company, founded by Eric S. Yuan, in 2011. The company is headquartered in San Jose, California. It is a cloud-based video communications platform that lets you set up virtual video and audio conferencing, webinars, live chats, screen-sharing, and other collaboration features. Zoom’s key managerial persons are Eric S. Yuan(President and CEO) and Kelly Steckelberg(CFO). As of 2020, the number of employees of the company worldwide was 2,700. The company has offices in the U.S, Asia, Europe, and Australia. The common stocks of Zoom are listed on the New York Stock Exchange under the trading symbol “ZM”.  Zoom’s competitors are Google, Microsoft, TeamViewer, Cisco, 247meeting, LogMeIn, BlueJeans by Verizon, and Adobe. The Zoom app was downloaded 2.13 million times in one day in March 2020. Zoom’s stock price jumped by 35% in 2020 due to the increase in its customer base.

Zoom provides a free audio/video conference plan that allows for up to 100 simultaneous participants and a 40-minute time limit. After that users can upgrade to a paid plan by subscribing to it. The most expensive subscription allows up to 1,000 simultaneous participants for meetings lasting up to 30 hours. Zoom is the fifth most downloaded smartphone app in the world, with 477 million downloads in 2020. The company experienced significant outages for many hours on August 24, 2020, before service was restored.

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