CALIFORNIA: After dominating the video-conferencing space, Zoom now wants to expand its growing empire by venturing into email and calendar services.
Zoom’s business skyrocketed in 2020 due to the ongoing coronavirus pandemic and is now one of the most preferred video conferencing applications available in the market.
As per reports by an international newspaper, the tech winner of 2020, due to its user-friendly video calls service, has already started working on its email and calendar service.
The newspaper informed that zoom might launch the service “very early” in 2021. Zoom aims to launch an innovative email technology for a next-generation experience instead of replicating existing services.
The leak indicates Zoom wants to create a single platform that offers video calls, email as well as other productivity tools. However, the company has declined to comment.
Zoom will have to compete with Gmail and Outlook who are heavyweights in an email to be a success. Both Google and Microsoft are not single-purpose platforms and hence Zoom to expand its services in order to maintain its place in the market.
Earlier, Zoom Video Communications Inc warned its gross margins would remain under pressure going into 2021 as the surging number of free users of its video conferencing service makes it hard to offset a spike in costs to maintain its growth.
Shares of the company, which have risen about sevenfold this year fueled by the meteoric rise in demand in video conferencing for work, school or socializing due to the COVID-19 pandemic, fell 5% after the bell, despite upbeat fourth-quarter forecasts.
