In light of the novel coronavirus, most social gatherings and live events have moved online. While there are many options for individuals to communicate virtually, the method that has emerged as the most popular means of correspondence is the video conferencing app Zoom Video Communications — Zoom for short.
As cities have been placed on lockdown across the world, downloads of video conferencing applications have soared to record highs and company share prices have seen symbiotic rises. While the stock market crashes, Zoom shares have soared, in fact, a recent company valuation put Zoom at 29 billion dollars, which is more than major airline conglomerates like Delta, American Airlines, and United Airlines. With this information, the question therein lies: what exactly makes Zoom stand out amongst the hordes of other video chat platforms?
Founder, CEO, and chairman of GUION PARTNERS, INC., Lindsay Guion runs a multi-faceted management consulting firm that works with high profile clients in the areas of technology, media, entertainment, and sports. He explains how Zoom as a video chatting platform has taken the world by storm.
Multi-purpose Usage and Functionality
Why is Zoom leading the download charts in Apple’s app store? Lindsay Guion credits this to the fact that the software was already utilized in post-secondary institutions. Zoom’s association with young, school-aged individuals, worked to give the company a distinct and hip brand appeal that spawned globally and across demographics.
Secondly, Guion praises the app for its functionality. It is reliable and has a simple interface which makes it easy to talk with multiple people at once and has fostered its status as the ultimate standard in video conferencing software. In this sense, long before the COVID-19 pandemic, Zoom had already broken into not only university campuses, but also the boardrooms of the world. For those who are looking for more interactivity, beyond a hyper-professional setting, the product’s layout also contains some features that mirror popular social media apps. Two examples include a button called Touch Up My Appearance, which casts a soft focus over the video display, smoothing out the skin tone of the users akin to an Instagram filter, as well as custom backdrops, which override any less than ideal video chat settings.
The Zoom Boom
We have officially entered the Zoom boom, and even when our communities revert back to a version of how the world once was, it will most likely be the case that because Zoom has become so culturally intertwined, and moreover, accepted, it will remain a bastion for at-home workers and friends looking to have a virtual hang-out.
Lindsay Guion on Potential Shortfalls
While Zoom seems like a viable option for video conferencing sessions over other software, recent security issues have come to light. Zoom has been a target for what people are calling “Zoombombing,” through which unwanted hackers can get into video chats that they weren’t invited to and post unwanted and inappropriate content and can learn potentially secret information when it comes to business conference calls. The company’s CEO, Eric S. Yuan, recently spoke out about the breaches in security, saying the company moved too fast and is working to win the users’ trust back.
While the company works to fix potentially catastrophic security issues, Lindsay Guion suggests exercising caution when it comes to Zoom.