Zoom has begun working on a web email service and "might offer a very early version of the product to some customers next year". The company is also developing a calendar application, according to The Information .Even as Zoom had the upper hand in the video calling service, it will face competition in the email space. As of now, Microsoft and Google dominate the space and have become synonymous with corporate emails. As The Verge points, Zoom’s new foray will help the company find an application of its solutions in different areas than just video calling. It added that both Google and Microsoft offer video calling services as well.

Videoconferencing platform Zoom has had a blockbuster year, with its stock price rising more than 500 percent due to the unprecedented surge in remote work brought on by the coronavirus pandemic. But now the company is looking to expand beyond workplace video chat and into new territories.

The company is already working on the email product, which the report states will be a web email service Zoom may begin testing as early as next year. The calendar app appears farther off and it’s unclear if development has even started. But both ideas are smart avenues for Zoom to explore, especially if companies start bringing employees back to the office and reliance on videoconferencing declines as COVID-19 vaccine distribution picks up through 2021.

Zoom reported it had 433,700 customers with more than 10 employees, a 485% increase from the year before but only a 17% increase from the fiscal second quarter, compared to the 40% growth rate between the company's first and second quarters. The slowed growth is attributed to growing competition with established tech companies, which are trying to match Zoom’s offerings.

Source- The Verge

Country- U.S