While best of breed will continue to thrive in businesses of all sizes, IT decision-makers in large enterprises want to invest in a comprehensive business communications portfolio that has the fewest moving parts.
Today, Zoom has a vast and loyal customer base among SMBs, verticals like education and healthcare, and teams of users within large organizations that have adopted Zoom as part of the growing BYOD movement. Zoom’s roots are in its freemium service, which disrupted the meetings market and became popular due to its simplicity and user experience. It is evident that the company must aggressively accelerate expansion within enterprise customers. And that’s quite an ambitious leap.įor the quarter ending July 31, 2019, Zoom reported revenue growth of 96% over the same quarter last year. While continuing to report impressive revenues, Zoom’s top-line growth rate is declining.
In addition, Zoom’s recently announced investment in Neat, a video appliance startup, signals a multi-directional effort that could eventually find Zoom offering all the pieces of the business communications and collaboration stack. After seeing strong growth for Zoom Meetings, Zoom Rooms, and Zoom Webinar, Zoom leaped into voice calling last year with Zoom Phone. Zoom’s strategy of building a strong, well-functioning core, i.e., its wildly successful video meetings business, and using it as a base to expand into many adjacencies is playing out well.
Since the launch of its first product, Zoom has morphed considerably from a cloud video conferencing provider to its current, fast-growing focus on end-to-end enterprise communications.
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