The COVID-19 pandemic has turned out to be a major setback for many companies globally. The worst bit is the large number of lives lost in line with the outbreak of the deadly virus that started in China. The government has tried out several measures in a bid to combat the spread of the deadly virus.
One of those has been the introduction of lockdowns, which has become a rather costly undertaking. Things might be looking ugly for most of the businesses, but Zoom Video Communications Inc (NASDAQ:ZM) is seemingly witnessing its better days. That is because the schools and some major businesses have turned to the video conferencing platform in conducting some wide-ranging operations. Some of the activities include virtual undertakings, including weddings, workout classes, cocktail hours, and much more.
This company’s good turn has been noticed by some major industry leaders, among them being Alphabet Inc (NASDAQ:GOOGL) and Facebook, Inc (NASDAQ:FB). These two tech giants aren’t about to let Zoom enjoy the monopoly. There are reports that they have been doing a lot lately in line with increasing and improving the quality of their group video apps.
The efforts of these tech giants have become the subject of discussion for many people around the globe. There are some high chances that the two may pose strong competition to Zoom, and that is considering the advantages they have. The two are said to have an upper-hand. For instance, each one of them enjoys a massive user base that has remained loyal over the years. It is an added competition which Zoom needs to focus on to ensure that it remains in business. At the start, reports came out indicating that Zoom had done a shoddy job, allaying some privacy issues. The new competition may focus on this area of weakness in a bid to take over the market from Zoom.
It was in the previous week that Facebook reported about the unveiling if its Messenger rooms. This is a new service that doesn’t discriminate, even those without Facebook accounts. Messenger rooms have been reported to have the capacity to accommodate up to about 50 people.
Google has the Google Meet that can take care of about 100 persons who can hold a meeting for about 40 minutes.