Something to look forward to: Zoom’s fast growth has raised the company’s ambitions to new heights. Reports indicate they are looking to become an enterprise platform with all the productivity tools needed to compete with existing solutions from the likes of Microsoft, Salesforce, and Google, all of which have much deeper pockets.
Zoom has seen huge growth in 2020, which is why public investors have sent the stock to around six times what it was in December last year. With over $1.5 billion in cash and marketable securities, the company is now exploring ways to develop a richer ecosystem of productivity services around its successful video conferencing app.
According to a report from The Information, Zoom is working on email and calendar services, with the first well under way for an early 2021 preview release. The calendar app is reportedly still in the planning phase, with no clear timeline on when development might start.
Earlier this year, Zoom Chief Product Officer Oded Gal told Protocol the company didn’t expect the app to achieve this level of growth in the business space, let alone becoming a household name for consumers who wanted alternatives to FaceTime and Skype.
Zoom even became popular on devices like Facebook Portal and Google Home, and with increasing usage necessary improvements to security have been rolled out, with plans for end-to-end encryption in early 2021.