Zoom: Their Success Didn’t Just Stem from Covid, they Mastered the Art of Profitable Growth
Posted: April 28, 2020 9:31 pm
Zoom has become an extremely popular tool over the last several months as we’ve all been practicing “social distancing. Individuals went from having no idea what this tool was, to conducting happy hours, parties, school, dates, brunch & tons of work conferences on the daily. You may think that Zoom just got “lucky” with this pandemic, but the truth is – they have been climbing the ladder as a successful “start-up” for the past 9 years. Covid definitely brought more traffic and attention to their products, as there has been a much higher need for it, but they were killing it before this! Zoom creator, Eric Yuan, had the vision “video is the future of communications” – and it definitely looks like that future came much faster and more abruptly than he thought.
“From the start, Zoom aspired to stand out in a market of products that were probably more hated than loved. In a letter to shareholders included with its paperwork for going public a year ago, founder and CEO Eric Yuan talked about “how unhappy” people were with the videoconference tools on the market. But that was before the pandemic. Now video conferencing tools have gone from the punchline of a dry office joke to a vital social lifeline — and perhaps none more so than Zoom.” an article from CNN Business stated.
In recent weeks, Zoom has emerged as the most downloaded app on the Apple App Store, repeatedly breaking its download records. On Monday March 23, Zoom was downloaded 2.13 million times worldwide, up from 2.04 million the day before, according to app tracking firm Apptopia. Two months prior, the app had just under 56,000 global downloads in a day.
Another key metric in Zoom’s success is Yuan’s vision for company culture.His focus was to build a company culture around promoting “happiness. Very early on, we spoke about customer experience and culture; two things he really cared about,” said Quinn Li, senior vice president of Qualcomm Ventures, an early Zoom investor. “He would write back to any customer that would write to him, which is very rare for a company CEO to do.”
At Spigot, Inc. we all really love Zoom! We also appreciate a company with the drive to win, willingness to please users and a great company culture. This article really does show how much hard work pays off – especially for a small start up, they went from a small video conferencing tool, to going public and competing with Skype.
Spigot, Inc. is also rapidly growing! With more individuals at home, traffic to our products has increased – and we are STILL hiring! Send your resume to firstname.lastname@example.org for review! Check out all of our adventures on the Spigot Inc blog. Be sure to follow us on LinkedIn, Twitter and Instagram… like us on Facebook and never miss out on the Spigot, Inc. lifestyle!
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