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Memphis News & Weather | Memphis, TN | WATN - localmemphis.com

Zoom now is worth more than the top seven airlines in the world combined

During the COVID-19 pandemic, many people are now working and socializing from home instead of traveling, and they're using video conferencing company Zoom

MEMPHIS, Tenn. — When the coronavirus outbreak spread across the world, people started moving their everyday activities inside.

The video conferencing company Zoom Communications was one organization that really benefiting from the pandemic and quarantine. During this uncertain period of time, Zoom net worth zoomed up. We are now in what we can call "The Zoom Boom." Throughout the pandemic, Zoom's market capitalization has skyrocketed to $48.8 billion, which is $423 million over the past year. 

Iman Ghosh from The Visual Captialist, a media website that prioritizes making world information more accessible, found that Zoom is more successful because of the easy-to-use interface and user experience. 

Business owners particularly are drawn to it also because of the ability to have a large amount of people on one call. Teachers and schools like how they are able to use the platform for free to continue teaching.

Airlines have been struggling from the travel restrictions that have had a plummet in ticket sales.

With countries desperately trying to contain more spread of the coronavirus, many airlines have had to make some major cuts in travel capacities, the amount of workers, and pay for executives just to stay above ground.

With Zoom's success the past few months, airlines could experience some hesitation to return to their normal amount of flights. The future for Zoom and airlines will be unknown as the economy can change in any direction at any time.

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