Zoom Application Is Popular, the Stock Exploded
The story of the Zoom application is a story of success. It’s a professional video-chat application that hundreds of thousands of people tried in the last months, in the quarantine. You can organize Zoom meetings, online conferences, but also simple private calls between 2-3 persons. The Zoom stock price is increasing in times of quarantine and after. Better, jumping, exploding, moving on an exponential curve. The shares of the company developing the application more than tripled this year already. (Ticker: NASDAQ:ZM, not to be confounded with other similar names.)
Wednesday, the stock skyrocketed again, after a very good quarterly report.
Revenue for Zoom’s fiscal first quarter soared 169 percent year over year to $328.2 million, trouncing analysts’ average forecast for revenue of $202.7 million. (…) even more startling was the company’s extremely bullish outlook. Management said it expected fiscal second-quarter revenue to be between $495 million and $500 million –wrote Fool.com.
Plenty of Zoom Alternatives
But the video-chat or video-meeting market is huge. In the quarantine, hundreds of millions of people have used some video-chat software, or “virtual meeting services”. The virus sped up the long-existing digitization trend. But aren’t Zoom stocks overvalued already?
We found 29 other video-chat systems in approximately 20 minutes in our memories and in some list posts. Most of them have a general-purpose. Others specialize in some user groups, such as gamers, teachers, businesses, or Apple users. We mix professional and private purpose applications in the next list because many of them are useful in several use cases. Or the developers target various groups.
Some alternatives like Zoho Meeting, BlueJeans Meetings, GlobalMeet appear also professional and interesting. But I have found no free plans here. AnyMeeting is “free until 2021”. Some services may have only paid plans but also free trials of some weeks or months.
Let’s Zoom in on Savings in the Crisis!
So, the supply is plentiful on this market and the competition is ferocious. We tried Zoom several times. But it was especially useful for very long or multi-party meetings only, included in the paid version. Often, Skype or Whatsapp has proven to be much simpler, even for most business use cases.
Because there are a lot of free solutions and because of the crisis, everyone is thinking very much about what to spend money on. This can limit the revenues of similar companies. Plus, the competition isn’t sleeping either. Zoom alternatives are working hard to improve their services now that the demand for them has increased.
But sure, it is also possible that the Zoom App will become a market leader and everyone will use this product. Just as about a third of humanity cannot live without Facebook.