Zoom’s Next Big Idea: Its Own Email Service and Calendar App by Next Year, IT News, ET CIO

New Delhi, having solidified its position in the video calling market amid the pandemic, Zoom is now planning to develop an email service and release it next year, as well as working on a calendar application, to tackle giants like Google and Microsoft, the media reported.

According to a The Information report citing people with first-hand knowledge of the matter, Zoom Video Communications has begun developing a web-based email service and “may offer a very early release of the product to some customers next year.”

“The company is also studying the possibility of creating a calendar application.”

Zoom did not comment on the report.

The company had a successful year, with the share price rising more than 500% due to the unprecedented surge in work and distance learning.

Zoom’s main competitors are video conferencing platforms bundled as part of full business app suites.

The two big players are Microsoft with its Office 365 platform and Google with its competing Workspace bundle.

“Both of these platforms offer calendaring, email and video conferencing products, so it makes sense for Zoom to look to email and calendar to try to complement its offering and make Zoom less of a one-time platform,” reports The Verge.

Building on pandemic-driven work and distance learning, Zoom quadrupled its quarterly revenue, posting $ 777.2 million in its fiscal third quarter ended Oct.31, up 367% (year-over-year).

The company had approximately 433,700 subscribers with more than 10 employees, up from 370,200 last quarter. The number of customers who contributed over $ 100,000 in revenue jumped to 1,289, a 136% increase from last year.

In October, Zoom released its new free and paid End-to-End Encryption (E2EE) functionality for meetings with up to 200 attendees to users around the world.