Online video conferencing company Zoom is preparing to roll out email and calendar apps, The Information reports.
The apps have supposedly been in development for the past two years, with the company referring to them as “Zmail” and “Zcal” internally.
A possible unveiling of the apps could happen at the Zoomtopia conference in November 2022.
Zoom likely sees additional productivity apps as a means to better compete with Google and Microsoft’s range of software.
With only a video conferencing app on offer, Zoom quickly gained popularity due to the surge in remote working during the Covid-19 pandemic.
Daily users jumped from 10 million at the end of December 2019 to more than 200 million by 31 March 2020 and 300 million on 21 April 2020.
That unprecedented growth sent the company’s revenue climbing and share price skyrocketing from $67.28 at the start of 2020 to a peak of $559 in mid-October of that year — an increase of 731%.
But its growth has slowed significantly as Covid-19 lockdown measures eased and many people returned to work at offices.
In addition, Zoom’s value proposition has dwindled compared to Google and Microsoft, which have updated their respective Meet and Teams video conferencing apps to include some of the features previously exclusive to Zoom.
During Zoom’s second quarter for its 2023 financial year, it reported revenue of $1.10 billion, which fell short of analysts’ expectations and was only 8% higher than the previous year.
Its net income also dropped from $316.9 million to $45.7 million in the previous year.
Source: My Broadband
