Zoom said on Monday it would start selling its videoconferencing technology so that other companies could incorporate it into their products, said Chief Technology Officer Brendan Ittelson. Calls will still go to Zoom, he said, but will not carry the company logo. The company based in San Jose, California has so far relied heavily on users making calls through the Zoom app.
Businesses opting for the new system will pay for Zoom on a per-minute call, with the first 10,000 minutes of each month for free, said Mr Ittelson. Packing its app directly into customer applications is a way that puts Zoom further in competition with the services offered to others such as Amazon.com Inc., which also offers videoconferencing technology businesses can embed on their software tools.
Zoom has been one of the biggest beneficiaries of the transition from the epidemic to remote work, gaining popularity between schools and individual users and companies using its paid service to communicate with employees and customers.
Zoom this month recorded record sales per year, which increased $ 2.65 billion by 2020, and predicted revenue would increase by more than 41% this year.
Its success has accelerated the rise in weather in Zoom stock. Shares peaked in October at $ 588.84, up from $ 65 when the company started trading publicly in 2019, giving Zoom a market value of more than $ 170 billion.
But keeping the growth of Zoom and others enjoyed during the coronavirus epidemic has become a growing problem for managers and investors. Businesses such as food delivery company DoorDash Inc., online shopping let Etsy Inc. and Lowe’s Cos which helps to benefit from changing spending habits they are still preparing to change again.
Zoom shares rebounded by about 20% over the past three months amid concerns the release of the Covid-19 vaccine could reduce the chances of growth by helping to bring about the recovery of more people.
“Zoom is in a situation where they have experienced insignificant growth during the epidemic, but they need to find more drivers,” said Rishi Jaluria, an analyst at investment research company D.A. Davidson & Co.
The company in recent months has launched several efforts to maintain its value in everyday life during the post-epidemic period. Last year, it announced a new service, called OnZoom, to allow users to hold paid events, such as yoga classes or guitar lessons.
Mr Ittelson of Zoom said customers have been asking the company to integrate their tools with its videoconferencing technology.
The company allowed customers to include its videoconferencing feature earlier, but those programs included the Zoom icon. Providing seamless integration with customer requests, Mr Jaluria said, could speed up wider acceptance and open up a new business. “That’s why there was a big mistake in building an engineered ecosystem,” he said.
It is also a type of video service that others have already sold. Last year, Amazon partnered with partner company Slack Technologies Inc. to bring its videoconferencing tools, called Chime, directly to the chat app. Zoom will also compete with Twilio Inc., a fast-growing company that provides business communications software. The basic Zoom app already has a tough competition with another technology specialist, Microsoft Corp., which offers similar features to its team software.
As part of Zoom’s plan to increase the acceptance of its application among paid business customers, the company has been adding features to enhance its videoconferencing function by forming relationships with others. Users, for example, can now use the Zoom app to view documents stored in the data storage system provided by Dropbox Inc. Previously, they had to transfer to the Dropbox app.
Zoom said 1,000 such applications are now available on its platform. On Monday, it also announced the analytics tools of these apps so software developers could track how well the app’s performance was performing.