The Team That Helped Zoom Smash Revenue Expectations In Q2 2020
Zoom had a wildy successful quarter, smashing analyst expectations as measures meant to contain the coronavirus continue to force many consumers to join meetings, classes, and events virtually. This continued demand for video conferencing products has forced the company to rapidly scale in order to seize the opportunity.
Here are some of the most important growth numbers from Zoom’s latest earnings:
- Revenue surged to $663.5 million for the three months ending July 31, a 355% jump, beating analysts' expectations of $500.5 million.
- The company said it now has 370,200 institutional customers with over 10 employees, up 458% year-over-year, and that the number of large customers (firms that contributed more than $100,000 in revenue over the past year) doubled to 988 during the quarter.
- Zoom raised its annual revenue forecast to the range of $2.37 billion to $2.39 billion, from its previous projection of around $1.78 billion to $1.80 billion.
- Its market cap now stands at more than $120 billion, up from $25 billion a year ago.
Zoom is now a household name with a userbase that has grown to over 300 million daily meeting participants, up from just 10 million in December 2019. Zoom’s popularity has made it the service of choice for many organizations as they look to create online alternatives to traditionally in-person events.
However, the company’s success hasn’t come easily as it has been rocked by scandals and has endured stiff competition for tech giants like Google and Microsoft. Here is the team that is winning over paying clients for Zoom and leading the company to new heights.
As Zoom’s Chief Revenue Officer, Ryan Azus is responsible for Zoom’s sales, customer success, and channel teams. Among his team are Jeff Schwartz, who leads Enterprise Sales, and Abe Smith, the company’s Head of International. Together this team is forging brand new deals to bring large international brands onto Zoom’s platform. For instance, international motorsport league Formula 1 inked a deal with Zoom in July to allow virtual fans to participate in a range of behind the scenes experiences. These sales execs are crucial to convert organizations around the world that may be currently using a free version of Zoom, or even a competing service, to the company's paid tier.
While Zoom is wildly popular now, its position as an industry leader wasn’t forged overnight and has been carefully crafted by Chief Marketing Officer Janine Pelosi. Since she joined Zoom in March 2015, Pelosi has led Zoom's corporate marketing initiatives including go-to-market strategies, brand awareness, communications, product marketing, lead generation, and customer marketing. These efforts have resulted in the company building significant mindshare among consumers and making the name Zoom practically synonymous with video calls.
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