Zoom CEO Eric Yuan on the challenges of adapting an enterprise product for consumers

There’s been a lot of talk about the consumerization of IT in the workplace. But in the case of Zoom, the pandemic forced the high-flying video conferencing service to rapidly shift gears in the other direction, resulting in some painful lessons along the way.

Zoom founder and CEO Eric Yuan said despite the company’s culture of always trying to see the world through its customers’ eyes, it had to rethink many of its assumptions when suddenly a wide range of consumers began using Zoom for everything from distance learning to having virtual cocktails with friends.

“On the one hand, we were very excited, because after many years of hard work your dream is coming true of helping people stay connected,” Yuan said. “But then suddenly, you have 30 times more growth than you were expecting, so how do you handle that? You’ve got to work harder.”

Yuan spoke on day

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NHS Covid-19 and Zoom top iPhone’s 2020 app charts



a close up of a cell phone: The NHS Covid-19 app was launched on 24 September


© Getty Images
The NHS Covid-19 app was launched on 24 September

Apple has revealed the NHS Covid-19 app was the second most downloaded iPhone product on its App Store in the UK this year.

Only the video chat app Zoom was installed more times. TikTok came third.

The contact-tracing app’s achievement is notable given it only launched about two months ago and is solely targeted at users based in England and Wales.

The iPhone is the UK’s best-selling smartphone brand.

However, more people use Android. The BBC has asked Google where the government’s app appears on its own Play Store’s rankings.

‘Meaningful’ impact

As of 18 November, the NHS Covid-19 app has been downloaded 20,056,685 times across both platforms, according to the government’s latest figures.

The BBC has asked how many users have subsequently deleted it.

However, the Department of Health and Social Care has declined to provide the

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Kohl’s, Micron Technology rise; Zoom, Peloton fall

Kohl’s Corp., up $4.32 to $36.52.

Sephora will be replacing cosmetics areas in the retailer’s stores, starting with 200 locations late next year.

Tesla Inc., up $17.16 to $584.76.

Tesla’s inclusion in the S&P 500 index will be made on a single day, rather than over two days as had been considered.

CSX Corp., up 57 cents to $90.62.

The railroad is buying regional operator Pan Am Railways to bolster its network in the northeastern U.S.

Pfizer Inc., up $1.10 to $39.41.

The drug developer’s coronavirus vaccine could gain European approval within four weeks.


Alcoa Corp., up $1.93 to $21.83.

The aluminum producer is selling its rolling mill business to Kaiser Aluminum Corporation for about $670 million.

Micron Technology Inc., up $2.99 to $67.08.

The maker of computer memory and data storage products raised its fiscal first-quarter profit and revenue forecasts.

Peloton Interactive Inc., down $4.32 to $112.03.

The fitness

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Zoom Founder’s Net Worth Has Plunged $7 Billion Since October As Explosive Pandemic Growth Slows

Topline

Despite booming earnings that beat Wall Street’s expectations, shares of Zoom are tanking on Tuesday after a quarterly report revealed that the firm’s explosive pandemic growth could be reaching its upper limit, and the fortune of the firm’s billionaire founder and CEO, Eric Yuan, has plunged in tandem.

Key Facts

As of 1:00 p.m. EST, shares of Zoom have plummeted 14% on Tuesday, tanking Eric Yuan’s fortune by $2.8 billion as a result. 

Yuan, who owns a roughly 22% stake in the work-from-home staple, is now worth $18.2 billion, Forbes estimates, down from $25.1 billion in late October.

After the market close on Monday, Zoom

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Zoom Video Gets Rocked After Earnings – Now What?

Zoom Video  (ZM) – Get Report was getting smacked around after reporting quarterly earnings, dropping about 14% on Tuesday.

Bulls are going to be especially frustrated with the post-earnings reaction, given the good report Zoom issued.

The company easily beat on earnings and revenue expectations for its fiscal third quarter. Fourth-quarter and full-year guidance even came in better than expected.

Management also provided a strong earnings outlook for next fiscal year, with its bottom-line estimates coming in ahead of consensus expectations.

However, it doesn’t seem to matter. The market is selling Zoom stock lower on the results as analysts start to worry about the stock’s valuation.

The reaction is not helping other pandemic plays, like DocuSign  (DOCU) – Get Report and Peloton  (PTON) – Get Report, which are down 6% and 4.2%, respectively.

Trading Zoom Video

Daily chart of Zoom Video stock.

Daily chart of Zoom Video stock.

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Zoom slides 14% as slowing sales-growth forecasts make investors question the stock’s 200% post-COVID rally

Two professors from the University of California, Berkeley use Zoom to teach their students through an online course.


  • Zoom Video sank as much as 14% on Tuesday after the company’s quarterly report revealed an expected slowdown in sales growth into 2021.
  • The company’s third-quarter revenue and earnings beat estimates, and guidance for the current quarter and full fiscal year landed above expectations.
  • Yet the high end of Zoom’s fourth-quarter sales forecast implies growth of 330% from the same period last year. That’s less than the year-over-year growth seen in the second and third quarters.
  • Analysts have debated whether Zoom’s 200% rally from the market’s March lows is sustainable as COVID-19 vaccines near distribution and revenue growth slightly weakens.
  • Watch Zoom trade live here.

Zoom Video tumbled as much as 14% on Tuesday after its third-quarter report hinted its incredible revenue growth will weaken through the end of

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Future iPhone Could Offer 10x Optical Zoom, Reports Say

KEY POINTS

  • Apple improves the iPhone’s mobile photography features every year
  • Reports indicate it is gunning for 10x optical zoom in the future
  • It might be able to do this using components from third-party suppliers

Apple could equip future iPhones with specs and technologies that would allow them to offer highly requested mobile photography features, particularly 10x optical zoom, several reports say.

Apple might consider using third-party camera technologies from Samsung, Chinese outlet Digitimes reported. This technology, the report stated, is a periscope lens.

Periscope lenses allow mobile devices to take pictures from a distance without adding any bulk to the device’s appearance and size. The camera is designed in such a way that it sits flush with the device’s chassis but is capable of adjusting focal lengths to provide higher levels of zoom.

Apple is reportedly looking to improve its already impressive iPhone camera setup by adding a periscope

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How Zoom Won 2020 by Meeting a Surge of Demand


7 min read

This story appears in the
December 2020

issue of
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It was a Monday morning in mid-March. Schools in California had just gone remote, and Eric Yuan’s daughter was settling in for the first day of her new routine. Then she turned to him and, like kids were doing with their parents everywhere, asked him for help using Zoom.

“She’d never asked me a question about Zoom!” says Yuan. Nor had he ever expected her to, even though he is the company’s founder and CEO. “When we created Zoom, the goal was to serve enterprise and business customers. I never thought about my kid having to use Zoom.”

That’s when Yuan knew his world was about to change. This tool he built, which was once reserved for corporate communications, was becoming a defining part of everyday life. His task was no

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Zoom reports big 3Q gains, but slowing growth sinks stock

SAN RAMON, Calif. (AP) — Zoom’s videoconferencing service remains a fixture in pandemic life, but its breakneck growth is showing signs of tapering off as investors debate whether the company will be able to build upon its recent success after a vaccine enables people to intermingle again.

For now, Zoom is thriving as tens of millions of people who never heard of the service at the beginning of the year rely on its video meeting tools to connect with their co-workers, teachers, friends and family while efforts to fight contain the pandemic prevent them from going into offices, schools and most many other places. That dependence boosted Zoom’s fortunes, producing a pandemic-driven success story that was highlighted again Monday with the release of the company’s quarterly results for the August-October period.

Zoom’s revenue more than quadrupled from the same time last year to $777 million, yielding a profit of $198

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Zoom Video Drops Despite Q3 Beat, Strong Guidance

Shares of Zoom Video Communications  (ZM) – Get Report dropped 5% after-hours Monday following the company’s fiscal third quarter earnings release. 

The San Jose-based company reported quarterly earnings of 99 cents per share on revenue of $777.2 million. Analysts were expecting Zoom to report earnings of 76 cents per share with revenue of $693.95 million. 

“We remain focused on the communication needs of our customers and communities as they navigate the current environment and adapt to a new world of work from anywhere using Zoom,” said founder and CEO Eric Yuan in a statement. “Strong demand and execution led to revenue growth of 367% year-over-year with solid growth in non-GAAP operating income and cash flow in our third fiscal quarter.”

For the fiscal fourth quarter, the company expects revenue between $806 million and $811 million with earnings between 77 cents and 79 cents per share. Analysts are expecting

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