2020 Is a Good Year for Zoom

2020 is a good year for zoom. However, zoom's share price is falling, possibly due to profits, but also because many alternatives have sprung up.

2020 is a good year for zoom. In October 2020, the stock represented by the company name has now become synonymous with video conference, which is the market's interpretation of how the zoom boom defined the daily lives of millions of people during the whole covid-19 outbreak.

Video call application has almost become a basic part of our life, which is the closest way of interaction between people. Isolation and blockade have brought video chat into the mainstream. Although giants such as Microsoft, Google and Cisco have always been major participants, zoom has soared beyond any other platform, "because its products are easier and more powerful than other platforms, and it appears at the right time - when people really need it." Wayne Kurtzman, who tracks the conference call platform for IDC, a market research company, told CNN in March 2020. It has successfully overcome security and privacy disputes and maintained a stronghold in the field of video calls. However, by the end of 2020, the company's share price was falling - possibly due to profits, but also because there were many substitutes springing up at that time. In addition to the obvious market share that these companies hope to obtain, some of them have also solved the now familiar "zoom fatigue", which is defined by psychology today as "fatigue, worry or burnout caused by excessive use of virtual communication platform".

Asynchronous enterprise communication

Some of zoom's challenges are focused on the form of asynchronous communication. Loom combines video communication and instant messaging to create a collaborative work environment. "People pick the time, process and respond, just like old-fashioned letters. It doesn't need to be arranged or coordinated," the company explained on its website. Instead of procrastinating with daily briefings, sending prerecorded updates before synchronous meetings, or summarizing information concisely rather than arranging unnecessary meetings, it makes sense. Similarly, grapevine tried to solve the scheduling problem and brazenly opened its landing page with the phrase "less zoom meetings". It provides a one-way video update asynchronous solution to solve the location and time zone problems or participate in those endless daily standing phones. It is also the supernormal and remote work of the asynchronous video update platform, adding AI driven summary text records that can be clicked, so that team members can jump to the sentences that are important to them in advance, While maintaining the relatively personalized atmosphere provided by the video. And bubbles, a Chrome extension that focuses on screen capture collaboration. "We are taking the screen sharing experience to a new level so that collaboration does not hinder work," wrote CEO and founder Tom Medema. In order to reduce poor communication, when the platform starts a conversation, you can comment on anything you see on the screen. In the background, you can share a private link to start the conversation. Examples include feedback and comments from designers on digital assets, or product experts presenting products and creating audio or text highlights. From all hands to realtalk, there are numerous other initiatives to solve exhausted online meetings. So that in this year's golden Kitty awards, there is a category of "remote work tools", which will commend the products, manufacturers and community members of producthunt every year. "As teams become more and more dispersed, video communication is very important for internal alliance and external business development. Dedicated communication tools help to achieve more effective team standing (standups), continuous team communication (tandem), working meeting (remote headquarters), and spontaneous water cooler chapters (snack). Others are to enable sales phone (modem) , synchronous communication (loom), workplace training (hone) and less interference communication (focus). "– from JJ oslund, the startup

Events in the era of video revolution and more

Similar to zoom, it also exists in the field of virtual events. Bizzabo has been very popular recently, although it is easy to predict the decline of the event technology founding company when coronavirus froze an industry worth $500 billion. But within two weeks, its Israeli founders successfully transferred their products into the field of virtual activities, and ended 2020 with 100% growth and tens of millions of dollars in revenue. Their latest round of $138 million by Viola growth- Next47 and American insight partners VC lead the investment, indicating that people have more and more trust in its current and future business model. Hopin, another virtual activity platform, has a valuation of US $2.1 billion and raised a total of US $170 million only eight months after its launch. This British company can be said to be the fastest-growing start-up company in Europe. Providing functions such as 1:1 network, virtual booth and comprehensive registration "enables it to better monetize activities, which is why it can establish large enterprises in these narrow vertical fields," JJ oslund explained on the startup of medium. As part of the analysis, he pointed out that these tailored startups actually pose a greater threat to zoom than any direct competitor. Oslund believes that the ability to focus on specific users, from head teachers to project colleagues to friends on game night, has created a unique advantage for vertical companies that is completely suitable for their customers. He believes that "the products designed by startups focusing on the vertical field can better meet the needs of specific user groups. This allows them to create and obtain more value than horizontal products such as zoom." (the following is his complete list of zoom verticality).

Picture from: JJ oslund, the verticalization of zoom

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