At the height of the pandemic Zoom was the go-to application for meetings with people stuck at home in lock down. During FY 2021, the company was growing at an unsustainable triple-digit rate, peaking at a mind-blowing 369% growth in Q3 2021. By Q2 2023, its most recent quarter, it was down to single digit 8% growth (but with $5.5 billion in cash on hand).
That’s quite a swing, and the company recognizes that it can’t rely completely on online meeting software. That’s why it has been looking to branch out beyond the core meeting service over the last couple of years by moving into areas like c