The go-to application for meetings with people stuck at home in lock down was at the height of the swine flu epidemic. The company grew at an unsustainable triple-digit rate during FY 2021, peaking at a mind-blowing 369% growth in the third quarter of the year. It was down to 8% growth in the most recent quarter, but with $5.5 billion in cash.
The company knows that it can't rely completely on online meeting software. Over the last couple of years, it has branched out beyond the core meeting service by moving into areas like contact center, sales intelligence and phone, as well as expanding the meeting platform into areas like white boarding.
The company announced the new email and calendar software at its customer conference. Eric Yuan, the company's founder and CEO, knows that there are people who spend a lot of their time on Zoom and he wants to provide all the tools to do that.
We are going to announce a new client. Any user can download a new client to use.
They can connect to a GMail or Microsoft Outlook account if they want. He said that the integration could be for existing customers of both companies.
Many customers who embrace the Zoom email and calendar apps, who are long time Google and Microsoft email and calendar customers, will choose to use the clients with the back-end integration, but small business owners, who might not have formal IT teams, may choose to let Zoom manage both the clients
The company is announcing hosted email and calendars. It will have the ability to create a unique customer domain.
The interface of the mail is called zoom.
He said that the hosted service is different from consumer email. A small group of people will share email on the platform. The platform will only allow a limited number of people to use it. The goal is to have an email and calendar application tightly integrated with the zoom platform with limited access to outside parties.
The service will be free for both paid and free tier users. If you want to run everything, it will be included in the price of the higher subscription plan.
The company is making a lot of announcements this week. The company is introducing a new type of experience where people can drop in for a few minutes and have a conversation. Last year, Slack introduced a similar type of quick chat.
You don't have to schedule meetings with the new service called Zoom Spots, which is basically a persistent video where you can look around, see who's there and you can join the conversations. He said it was an interesting idea to support hybrid work.
A customer service chat bot for its contact center service is one of the tools the company is introducing outside of the pure meeting sphere. A virtual coach for sales teams is one of the things it is introducing. The latter is included in the toolkit.
The company is trying to move beyond its online meeting roots and find ways to keep people on the platform as it expands into adjacent areas of the core meeting business.
And that’s that, as the Zoom deal to buy Five9 is called off
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