- The videoconferencing app had just 10 million users in December, before the coronavirus outbreak;
- Shares of Zoom rose 12% to a record high of $168.24;
- Zoom 5 update will be available in the next days, it will include intrusion-blocking encryption.
The video conferencing app Zoom experienced another surge in daily users this month, as its user base grew by another 50% to 300 million over the last three weeks. The huge growth happens even as the company faced a backlash around security that has seen a number of governments and firms ban its applications.
The videoconferencing app had just 10 million users in December, before the coronavirus outbreak forced millions of people to work from home. Shares of Zoom, which have surged nearly five-fold since the company went public in March last year, rose 12% to a record high of $168.24 on Thursday, reported Reuters.
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CEO Eric Yuan announced the numbers in an update on the platform’s 90-day security plan, while also outlining the rollout next week of a new version of the app with more encryption features. Zoom reiterated that companies across the world have done exhaustive security reviews of its platform and were using its services.
According do CNET, the company also said its Zoom 5 update will be available in the few next days. It’ll include intrusion-blocking encryption and the ability for account administrators to avoid a specific regions to route transmitted data. All Zoom customers will switch to the new cryptographic mode from May 30.
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The coronavirus-driven lockdown of millions of people globally has driven huge growth in use of platforms like Zoom, Rocket.Chat,Slack, Skype,Google Hangouts or Microsoft Teams application.