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Zoom, the video conferencing company, is said to be working on web apps for email and calendars as part of its latest expansion of its offerings.
The time of dreams
Focus on video communications
In recent months, has made a constant effort to expand its product list, adding conference room software (Zoom Rooms), cloud telephony (Zoom Phone) and an events marketplace (OnZoom).
And now Zoom (ticker: ZM) is planning to enter the email and calendar software market.
According to The Information, Zoom has started to develop a web-based messaging service, “and may offer a very first version of the product to some customers next year.” The story is attributed to “two people with direct knowledge of the subject”. The report also states that Zoom is “studying” the creation of a calendar application and considering developing corporate directory software.
The story claims that Zoom CEO Eric Yuan considered expanding the company’s core offering to include a full set of communication tools, including email, messaging and productivity tools – a move that would place the company in direct competition with the two.
Microsoft
(MSFT) and
Alphabetof
(GOOGL) Google.
Zoom declined to comment on the report.
The Covid-19 pandemic has led to an explosion in the use of video conferencing in 2020, and Zoom has been a major beneficiary of this trend – the company’s last quarter revenue increased 367%. But investors are starting to ask tough questions about how the company will fare in 2021, with competition resuming and many students and knowledge workers likely to return to classrooms and offices across the country. some time next year.
The cloud-based communications market is becoming crowded. Microsoft has pushed heavily for Teams, a unified communications suite that includes messaging, video, and other tools that it provides with its Office 365 productivity suite. And Google has a large user base of Gmail, Google. Docs and Google Hangouts. (That’s what Barron’s users, as well as
Slack Technologies
(JOB).)
Meanwhile,
RingCentral
(RNG) recently unveiled a new combined video and collaboration tool called Glip, offering the service free to up to 100 users.
Cisco Systems
(CSCO) overhauled WebEx, adding new collaboration features. And of course,
Salesforce.com
(CRM) recently agreed to pay $ 27.7 billion in cash and stocks for Slack.
Zoom stock on Wednesday was down 5.9%, to $ 384.91. While the stock is still up over 460% for the year to date, Zoom shares are down about $ 200 from their October high, losing about 35% of their value.
Write to Eric J. Savitz at [email protected]
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