How does Zoom make profit? Zoom is a cloud-based conferencing tool allowing users to virtually interact with each other through audio, video, and chat. The company’s competitive advantage is its high-quality audio/video output.
After a careful survey, I found out a lot of users keep searching Google for some terms such as how does zoom make profit from clients, what zoom alternative free apps are, how to make money with zoom app, can zoom meeting be hacked, etc.
The business model of Zoom is actually built on charging businesses a reoccurring subscription fee for the various products the company offers. On top of that, Zoom makes money from the promotion of hardware products industrially.
For a quick introduction, you have a lot in store to read about, use the table of content and navigate around the content. Importantly, please endeavor to share.
How to Use the Zoom Meeting App
Zoom Meeting App Review
Zoom is a cloud-based SaaS application that allows private individuals as well as businesses to virtually interact with each other. Communication can occur via chats, audio, video, or a combination of the three.
Users can hold one-on-one meetings or conduct video conferences with up to 500 participants. How does zoom make profit, screen sharing allows meeting participants to better coordinate within meetings and distribute information remotely.
Zoom is powered by its two core products:
- Zoom Meetings and Chat
- Zoom Rooms and Workspaces.
Rooms and Workspaces, allow businesses to utilize hardware such as a computer, tablet, camera, microphone, and more to hold virtual meetings.
However, it’s aimed at larger-scale organizations, which need to hold meetings across different offices.
Features of the Updated Zoom Meeting App
The updated Zoom Meetings App has all the features a company needs for holding an online meeting, no matter how big or small it is.
Participants can join in from a computer or a mobile device anywhere in the world as long as they have an internet connection and invitation link. I will be discussing more on Zoom Meeting Review in a general scenario.
They can turn on their cameras so others can see them or keep them off in case they want privacy.
Additionally, each individual can also turn off their microphone as well to make sure there are no background noises when someone speaks.
The updated Zoom Meeting App offers loads of useful features which include:
All meetings can be recorded with the press of a button. You can further save a recording on a device or upload it to the cloud. This allows employees that couldn’t attend the live meeting/webinar to check it out at a later time.
Participants can share their screens with others, which comes in handy for various presentations and educational workshops. Anyway, this is highly flexible from the end of the Host or Co-host.
Every Zoom Meeting has an integrated chat feature, this enables each participant to communicate with each other during a meeting and ask questions.
When you desire to make a contribution, you can signal it to the host by raising your hand virtually. This improves communication during a meeting, preventing multiple people from talking at once and causing poor coordination.
A host can create a poll and share it with participants in the meeting to gather their responses and opinions on a given topic. This is pretty for general users’ opinion and thoughts.
Mute A Participants
The host of a meeting has the ability to mute the mic of any participant. This is a vital feature that’s used when someone forgets they have the mic and their children are screaming in the background.
6 Zoom Alternative Free Apps
Founded in 2011 by a former Cisco executive – Zoom became an instant success as businesses had to revert to working smartly and digitally.
But the question is, what about other video communication platforms before this time? How does zoom make profit? Nonetheless, I have made a list of other zoom alternative free apps for video conference communication.
Google Duo is a household name when it comes to the video calling sphere. However, the app is more suitable for informal communication, with a maximum number of participants of 12, much like a classroom or a micro-community platform.
This is a free tool from Google and certainly one of the best alternatives to the Zoom app. It allows users to create, schedule, and host video conferences and also provides a great option when it comes to holding panel discussions.
MS Teams is a unified communication and collaboration tool from Microsoft. MS Teams offers both a free and paid version of the platform, with certain advanced features on the paid plan.
ClickMeeting is an easy-to-use alternative to Zoom. The tool allows users to schedule and share meetings and also lets them record live meetings if they wish to share them with others.
Ekiga is an open-source video conferencing tool that may also be a decent alternative to Zoom Meetings, but it is currently not available for Mac users.
GoToMeeting is another zoom alternative free app alternative to Zoom Meetings, although it’s a bit expensive. The features are just as useful as Zoom and the app comes with a simple-to-use interface.
How Did Zoom Come About
Zoom was founded in 2011 by Eric Yuan (CEO), a former executive at the video and web conferencing company Cisco WebEx.
Prior to starting Zoom, Yuan spent 14 years leading engineering teams – first at WebEx, then at Cisco after its acquisition of WebEx in 2007.
He joined WebEx as one of the company’s first software engineers in 1997 after his 9th visa application finally got approved.
At Cisco, he often saw how frustrated the company’s customers were with their inability to listen to their demands and the slow product iteration process.
For instance, every time a user logged into a WebEx conference, the company’s systems would have to classify which version of a product (Android, iPhone, Mac, or PC) to execute, which slowed things down.
If too many people were on the line, the connection would be severely strained, which led to bad audio and video quality. Plus, the applications lacked features such as screen-sharing for mobile phones.
Who Is Zoom App Founder – Eric S. Yuan Biography
Taking our mind of the zoom meeting review to the brain behind it, this is a very brief biography of the founder.
Eric S. Yuan (born 1970) is a Chinese-American billionaire businessman, and the CEO and founder of Zoom Video Communications, of which he owns 22%.
As a first-year university student in 1987, he was inspired to develop videotelephony software while he took 10-hour train rides to visit his girlfriend and was looking for an easier way to “visit” her.
He earned a bachelor’s degree in applied mathematics with a minor in computer application from Shandong University of Science and Technology, a master’s degree in geology engineering from China University of Mining and Technology in Beijing.
Upon arriving in the US, Yuan joined WebEx, a web conferencing startup, where he was one of the first 20 hires. The company was acquired by Cisco Systems in 2007, at which time he became vice president of engineering.
Yuan pitched a new smartphone-friendly video conferencing system to Cisco management, but the idea was rejected, Yuan left Cisco to establish his own company, Zoom Video Communications.
Yuan married at age 22, they have three children and live in Santa Clara, California.
Can Zoom Meeting App Be Hacked
In the recent COVID times, Zoom rose to worldwide prominence as many companies use it to conduct meetings and organize their work processes. With its rise to worldwide fame, the company received some backlash for its handling of security matters. How does zoom make profit and how does zoom make loss comes hand in hand here?
Reason: The black hat guys won’t stop looking for a way to attack any platform within their capacity.
Multiple government entities, including the US and Germany, advised their administrative workers to avoid using Zoom, but today – the app is firmly secured and can’t be hacked.
This is why I asked for the features of the updated zoom meeting app to encourage you to download it.
What is Zoombombing?
Zoombombing is the act of unintended people joining existing meetings. For instance, a recent Holocaust memorial was attacked and bombarded with images of Hitler.
Furthermore, more than 500,000 Zoom accounts were supposedly being sold on the dark web and hacker forums.
Yuan apologized for the problems in a blog post on Wednesday, writing “We did not design the product with the foresight that, in a matter of weeks, every person in the world would suddenly be working, studying, and socializing from home.”
He added: “We recognize that we have fallen short of the community’s — and our own — privacy and security expectations. For that, I am deeply sorry, and I want to share what we are doing about it.” Obviously, this affected how zoom makes money from the video app.
How does Zoom make Profit?
Apart from offering special packages to organizations in the Education, Finance, Healthcare, and Government industries, there is a Subscription package. For instance, schools will have to pay 1,800$ annually to unlock 20 hosts and access the company’s premium features.
The Zoom Freemium Plan
The company operates on a freemium model, which means that customers can use Zoom’s Meetings and Chat product for free. This allows users to host group meetings with up to 100 people and 40 minutes only.
Limited Zoom Meetings & Chats
Zoom Meetings and Chats is the company’s flagship product, allowing people to jump on a (video) call or chat over the application. Customers can access the application through multiple sources, including Zoom’s desktop or mobile apps.
The free version limits usage time to 40 minutes while limiting user count to 100 attendees. To lift these restrictions, customers will have to pay a monthly subscription fee. Sooner as you read on, I will teach you how to make money with zoom app from smartly implementing their strategies.
The Zoom Premium Plan
The free version limits usage time to 40 minutes while limiting user count to 100 attendees. To lift these restrictions, customers will have to pay a monthly subscription fee.
Businesses will have to pay $14.99 when billed monthly or $12.49 for annual billing.
Unlimited Zoom Rooms & Workspaces
Zoom Rooms are conference room systems that allow organizations to run video meetings. Customers can utilize their existing hardware providers such as Polycom and Cisco or purchase from Zoom-certified hardware providers.
The company’s Professional Services unit then ensures that the installation of conference rooms runs as smoothly as possible. How does zoom make profit?
Customers are charged a monthly subscription fee, which comes in at $49 a month per installed conference room (or $41.58 per month when billed annually).
Zoom Phone is a cloud-calling solution designed for users who want to have quick calls without video. Users can launch a VoIP call instead, while using the same Zoom tools available in its Meetings product and this is how zoom also make profit. Other features include:
- AI-assisted call management and routing
- Call recording and voicemail
- Secure HD audio for clear conversations
- Auto-attendant and IVR tools to redirect calls to the most qualified agents
…and so on.
Similar to its other products, Zoom charges a monthly subscription fee of $14.99 for every host (or $12.49 per month when billed annually).
Zoom Video Webinars
Zoom Video Webinars is a web conferencing service that allows users to broadcast a Zoom meeting to up to 10,000 view-only attendees. Webinars start at a capacity of 100 participants and scale up to 10,000 participants, depending on the license bought.
As the organizer of the webinar, one can share your screen, video, and audio. Furthermore, attendees can use the chat or question and answer options to interact with the webinar host.
Zoom Funding, Valuation & Revenue
According to Crunchbase, Zoom has raised a total of $146 million in six rounds of venture capital funding. Investors include the likes of Horizons Ventures, Emergence Capital, Sequoia Capital, and many others.
Zoom raised another $356.8 million in its IPO, which was announced in April 2019. The company made its debut on the Nasdaq stock exchange under the ticker symbol ZM. Many of Zoom’s tech counterparts that went public in 2019 did so while still losing money.
Zoom was already profitable and earned $7.58 million in net income for the fiscal year 2018.
For 2019, the company posted revenues of $622.7 million, up 88% year-over-year. Net income rose to $21.7 million. Currently, Zoom is valued at close to $47 billion.
What Is Zoom Founder’s Net Worth
The value of Zoom shares has more than doubled in the past three months, sending Yuan’s net worth up as well, according to the Financial Times. The majority of Yuan’s $7.57 billion fortune derives from his 19% stake in Zoom.
Yuan is now ranked No.192 on Bloomberg’s list of the 500 richest people in the world. Before 2020, he wasn’t even on the list.
How To Make Money With Zoom App
The thought of making money is obviously everyone’s concern, but making the money is the challenge because what works for some doesn’t work for others. How does zoom make profit is an important subject and so does how to make money from zoom.
Therefore, how to make money with the zoom app certainly vary according to individuals, the below is a listing of some possible profession to learn about and decide if it’s cool to venture into.
- Desktop Software Development in Nigeria
- Ecommerce Development in Nigeria
- Game Development in Nigeria
- Mobile Development in Nigeria
- Product Management in Nigeria
- QA & Testing in Nigeria
- Scripts & Utilities in Nigeria
- Web Development in Nigeria
- Web & Mobile Design in Nigeria
- Database Administration in Nigeria
- ERP / CRM Software in Nigeria
- Information Security in Nigeria
- Network & System Administration in Nigeria
- A/B Testing in Nigeria
- Data Visualization in Nigeria
- Architecture in Nigeria
- Chemical Engineering in Nigeria
- Animation in Nigeria
- Web Content Writing in Nigeria
- Audio Production in Nigeria
- Academic Writing & Research in Nigeria
- Resumes & Cover Letters Writing in Nigeria
- General Translation in Nigeria
- Technical Translation in Nigeria
- Market & Customer Research in Nigeria
- SEO – Search Engine Optimization in Nigeria
- Telemarketing & Telesales in Nigeria.
In my next article, I will be explaining all the above-listed professions one after the other.
For those who read this article carefully, and sure you won’t ask the question how does Zoom make money, what are the features of the updated zoom meeting app – what are zoom alternative free apps, can zoom meeting be hacked, and so on.