CEO and founder of Zoom, Eric Yuan, whose business showed exponential growth during the pandemic, says “working from home is here to stay”.
The video conferencing company expect sales to rise from more than 40% in 2021, reaching more than $3.7 billion.
The company said it does not expect growth to continue at the same rate as last year, but business has been good so far. The company’s revenues risen by 370% in the last three months of 2020 compared to the same time in 2019, reaching $882.5 million. As per Eric Yuan, “the fourth quarter was a good finish to an unparalleled year. Our work has only just started as the world recovers from the pandemic”.
Zoom became a household name almost immediately as a result of the pandemic, which caused an abrupt change to remote work for many companies around the world. Sales of the organization, which charges companies for its remote meeting programmer and allows the general public to use it for a limited period for free, increased 326% to $2.6 billion in 2020. Profits have risen from $21.7 million in 2019 to $671.5 million in 2020.
With the growth of remote and work-from-anywhere patterns, the future is now “In prepared remarks for investors, Mr. Yuan said, “We recognize this new reality and are assisting in the empowerment of our own employees and customers to work and succeed in a distributed manner”.
