2022 is the year that marks the third anniversary of Coronavirus affecting our lives. It has been three years since so many people suffered from deaths, illnesses, financial issues, and lockdown due to the pandemic.
Now that life is slowly returning to normal, some factors on our hands make us ponder on how Covid-19 altered our lives and work principles. We all know how Covid-19 also became the cause of stress, de-motivation to do anything, insomnia, etc. Sitting at home, doing work from home and meeting people online using video conferencing applications such as Zoom is a huge cause behind these issues.
Covid Led To The Zoom Boom
Not everything that happened during the pandemic was terrible. The pandemic lockdown had some advantages too, like spending more time with your family and less pollution in the environment. The situation affected social relationships gravely as people could not meet their friends and family members.
However, the Zoom application helped people cover this gap and communicate with their loved ones and arrange business meetings online.
But, as time went by, people got frustrated by living in their houses and connecting to people via the internet services like Zoom. ‘Zoom fatigue’ was the term given to people getting tired and nauseous of sitting in front of a screen and talking to people.
Zoom Losing Its Market Value:
Zoom was definitely the winner of the pandemic, and it was a very fulfilling year for Zoom Inc. From classrooms to offices, everyone was using Zoom for their day-to-day life. But now that everyone is going back to their schools, colleges, and offices, Zoom has started to see a decline in their revenues and is struggling to live up to their former glory at Wall Street.
People and businesses are now leaving Zoom video conferencing behind and turning towards old ways of communication using phone calls, messages, letters, and emails because too many video calls were making people queasy, uncomfortable, and affecting their privacy.
At the beginning of the 2019 pandemic, it was seen that only a small number of people (10-20%) wanted to go back to their regular routine. But now, in 2021, a surge in the numbers is seen, and more than 85% of people want their lives to go back to normal. This surge in numbers is what is making Zoom worried about their bouncing back as life coming back to its natural pace has caused Zoom to lose 6% of their share prices.
Recent News On Zoom’s Finances:
Recently, Zoom closed their second quarter of the fiscal year, and it was seen that their shares have jumped up to 15%. From a distance, it seems like Zoom is doing better at business than most companies at the moment. So then, what is the problem? And why does it seem like the era of Zoom Boom is ending?
The problem is simply that, in 2020, Zoom shared its revenue to be 54% higher than last quarter. But, this percentage is 355% from 400% less than the sales growth at the same time as last year. Thus, Covid-19’s fear really helped Zoom achieve a flow of business revenue that is slowly coming down as the dangers of covid-19 recede.