Started as ‘Saasbee’, 𝙕𝙊𝙊𝙈 has become one of the biggest beneficiaries of this outbreak. This unicorn valued at $47 billion saw a 740% increase in the number of downloads in March. In four months, daily users increased from 10 million to 200 million.
According to market intelligence firm Sensor Tower, first-time installations of Zoom’s mobile app have skyrocketed 728% since March 2020. Its stock price has surged more than 100% since the outbreak began and its Net Promoter Score (NPS) currently stands at an industry-high of 72 points.
What contributed to this mammoth success was not only its popular grid view, word-of-mouth popularity, and freemium model but also its marketing strategies like targeting ‘early adopters' group, using billboards at strategic locations and advertising inside the arena during basketball games (on scoreboards, digital signs, etc.).
But the picture is not as rosy as it seems. The convenience of using the app came with its own price. There are now wide-spread concerns regarding security and privacy risks following its usage, and Zoom-bombing is an ugly trend that has come up solely because of the lack of a secure entry point in conference calls.