Zoom’s paid usage skyrockets as remote work takes over

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Amid the COVID-19 pandemic, few companies seemed more poised to receive a usage bump than Zoom and its enterprise-grade video chat platform, but it turns out Zoom’s growth has outpaced those expectations.

In the company’s quarterly earnings release, Zoom delivered a beat that represented 169% year-over-year revenue growth, but they did so on the back of huge customer growth. The company detailed that they now had 265,400 customers with more than 10 users on their account, a number Zoom said represented a 354% surge. Zoom also saw a big spike in high-budget customers who had spent more than $100K on the platform in the past year, noting these customers had grown 90% since Q1 of last year.

Remote work helps Zoom grow 169% in one year, posting $328.2M in Q1 revenue

One thing we didn’t get was an update on total daily active or monthly active users on the platform.

In April, the company garnered ire for offering up misleading figures claiming the service had 300 million daily active users. Zoom later corrected the error, noting that these were not DAUs and were merely daily active participants, a distinction which highlights that users in multiple meetings per day were likely counted multiple times inside this metric.

The company’s massive influx of enterprise users is hardly surprising as more companies have leaned on services like Zoom to ease their transition to remote work among shelter-in-place related office shutdowns.

“The COVID-19 crisis has driven higher demand for distributed, face-to-face interactions and collaboration using Zoom. Use cases have grown rapidly as people integrated Zoom into their work, learning, and personal lives,” Zoom’s CEO Eric Yuan said in a statement accompanying the release.

Zoom retracts statement that it has 300M daily active users

Source: TechCrunch

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