“On the other hand, somehow, I do not know why – maybe because of the recent demand, maybe the working at home – we just have more meetings working at home than in the office.”
“On the one hand, we like working from home we’re using our own services,” says Yuan. So far, he’s pretty happy – if a bit worn down by the volume. Since Zoom went to a work-from-home policy nine days ago, Yuan has been learning how it holds up as a full-time remote tool firsthand.
“If you leverage this opportunity for money, I think that’s a horrible culture.” Zoom’s CEO instructed staff not to ramp up sales or marketing due to the coronavirus crisis. “I’m seeing a lot of funny tweets now, so this is something new,” says Yuan, who retweeted that one, but not the viral tweet from Box CEO Aaron Levie, or the viral joke about presidential debates happening over Zoom. “Just got an email from a prof: ‘As a reminder, you are required to wear clothes during Zoom meetings.’ Rules are made when they become necessary, not before,” one Twitter user quipped to more than 84,000 likes. Zoom isn’t just a focus for Wall Street, either. Last Wednesday, the company reported an earnings beat and year-to-year revenue growth of 78%, GAAP operating margins of 5.6% and non-GAAP earnings per share nearly double analyst consensus - and still saw shares dip, though they remained up 24% for the past month as of Thursday’s market close, versus a 27% drop for the S&P 500. But few are as richly valued as Zoom, whose shares are up 77% since it went public in April 2019, making Yuan a billionaire. Analysts point to others like file-sharing service Dropbox, e-signatures business DocuSign and emergency communications business Everbridge as obvious fellow cloud companies that will likely see a boost in usage as the world moves even more online. Zoom is far from the only tool standing to benefit from this trend.
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