Zoom shares began trading on the NASDAQ market plast week (NASDAQ: ZM), beginning trading at around $61 dollars, nearly double the anticipated value, with fluctuation seeing a sharp rise pushing the value of the business to being one of the world’s most valuable cloud companies.
With many technology companies expecting to go public this year, such as Uber and Slack, and others launching with much less success and attention than Zoom’s, Zoom has clearly stood out with a combination of doubling revenue year on year and impressive growth, making it a business that just couldn’t be ignored.
What does this mean?
UC Today say’s that it’s encouraging for the marketplace. Logitech says it demonstrates the good health of the industry. The top IPO of the year so far, and it’s in the Video Conferencing Industry.
With Zoom driving the market and promoting growth, others are seeing the benefits & recognising the opportunities, especially with the likes of Zoom and other market leaders, such as Microsoft, being islands and non-standards based solutions, requiring interoperability and connectivity to be solved by solution integrators and service providers.
“The fact that some of the most highly anticipated IPOs this year are in the collaboration space is a proof point that improving the way we communicate and collaborate at work remains a top priority. As our market continues to mature, all companies need to innovate, push the boundaries of what is possible and simplify their product offerings to work for business leaders and the end-users.”
What’s next? Keep on reading on UCToday to find out more about what the Zoom IPO means & what’s next for Zoom.