Zoom Video Communications Inc., a global leader in secure, intelligent collaboration platforms, plays a significant part in making "limitless human connection" a reality. The majority of its revenue is derived from selling subscriptions primarily to customers in the Americas. Zoom's platform brings people together via video, phone, chat, or content sharing, supporting up to 1,000 participants in meetings and up to 50,000 in webinars.
In 2024, Zoom stepped up its engagement with AI, contributing to its business without jeopardizing customer data confidentiality. Zoom offers a variety of products, such as Zoom Phone, Zoom Spaces, Zoom Events, Zoom Contact Center, and Zoom Revenue Accelerator. Their AI initiatives will significantly fuel their innovation-driven growth strategy.
Zoom has received recognition for its industry leadership from customer review sites like Gartner Peer Insights, TrustRadius, and G2. However, geopolitical tensions in Ukraine and Israel pose challenges to Zoom's operations. Despite this, the company recorded an operating cash flow growth of 40.6% and free cash flow growth of 43.6% in the first quarter of the 2025 fiscal year, driven by AI-powered innovation.
For the 2024 fiscal year, Zoom's revenue increased by 3% to $4.52 billion, while operating income rose by 114% to $525.27 million. Its net income for the same period was $637.46 million. These financial successes have resulted in a market capitalization of $19.82 billion as of May 2024.
Zoom's region-wise revenue break-up shows the Americas contributing the maximum, followed by Europe, Middle East, Africa, and then the Asia Pacific. In April 2024, Zoom launched Zoom Workplace, an AI-powered collaboration platform. In partnership with Avaya, Zoom plans to integrate its AI-driven platform with Avaya's Communication & Collaboration Suite. Zoom is continuously incorporating generative AI into its offerings to stay competitive in the market.
Founded by Eric Yuan in 2011 and with its initial public offering in 2019, Zoom has transitioned from a simple video conferencing company to providing comprehensive online communication and collaboration tools for individuals and businesses. Notably, Eric Yuan served at Cisco before establishing Zoom, driving the company's collaboration software development.