In just a few hours, Zoom Video Communications CEO Eric Yuan got $4.2-billion richer after shares of his virtual-meeting company surged as much as 26% to $410 in late US trading.
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Zoom Video Communications said on Wednesday it has added over 100 features to its video conferencing as part of its 90-day plan to address security and privacy concerns.
Zoom CEO Eric Yuan’s comments that the software company would work with law enforcement by not offering the strongest encryption for free calls has drawn strong criticism.
Zoom Video Communications nearly doubled its expectations for annual sales on Tuesday, driven by a surge in users as more people work from home and connect with friends online.
Zoom has announced plans to introduce end-to-end encryption after confirming the acquisition of a secure messaging and file-sharing service.
Hackers put more than half a million login details for the teleconferencing app Zoom on the dark Web, according to a report.
Zoom has been lambasted for its security flaws, but the backlash hasn’t slowed growth. The company reported a 50% surge in use of the online meeting application in the past three weeks.
Zoom Video Communications will let paying customers decide which countries their virtual meetings get routed through, a move to assuage clients worried they may be vulnerable to Chinese snooping.
Zoom shares jumped for a sixth straight session on Monday, as investors continued to bet that the teleconferencing company would be one of the rare winners from the coronavirus pandemic.