Zoom is now worth more than American Airlines, Expedia and Hilton combined
In times of lockout, the teleconference services of Zoom are commonly used for education, telehealth and have also expanded through marriages and “zoom groups” into the personal room.
Major teleconference Zoom Video Communications is now more valued than the combined market capitalization of American Airlines, Expedia, and Hilton’s so-called blue-eyed boys.
Also Read: How Google is competing with Zoom Video Conferencing App?
As of the closing of April 8, Zoom had a market cap of $31.73 billion while Hilton ($18.26 billion), American Airlines ($7.91 billion), and Expedia ($4.35 billion) had a total valuation of $30.52 billion.
With large numbers of people in a lockdown or facing some form of movement restriction due to the coronavirus pandemic, teleconference demand has skyrocketed as businesses around the world go online to remain linked while practicing social distancing.
Related: Facebook launches Zoom’s Rival: Messenger Rooms
The teleconference services of Zoom are widely used in education, telehealth and have also spread through weddings and “zoom parties” into the personal space.
On the other hand, aviation and hospitality were among the sectors which were hardest hit. Hilton’s value fell nearly half from $31bn in January. As of April 3, American Airlines and Expedia have reduced their market value to $4 billion and $7 billion.
Around the same time, the value of the Zoom has nearly doubled since the start of the year.
Given the rapid progress, Zoom is making, it came under the privacy microscope recently after many reports emerged from “Zoombombing” or “Zoom Raiding” where hackers entered meetings that were not meant for them.
Until then, Zoom has allowed users to password-protect their calls even though they are not supported by default.
Related: Skype Vs Zoom – A Quick Comparison
TechCrunch recently revealed that, given the company’s assurances, some sources suggested that Zoom video calls were not encrypted end to end.
