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Zoom Adds Email and Calendar Tools to Expand Beyond Video

Industry: Internet Services; Web Broadcasts & Cybercasts
Current: Product Indicators

Zoom said that its new email and calendar features, which will be made available to clients in a test form, can be connected to other popular services, including Alphabet Inc.'s Gmail and Microsoft Corp.'s Outlook
A Zoom-hosted email client is also available, targeted at smaller companies without dedicated IT departments
More sophisticated artificial intelligence features such as call analytics and customer-facing chatbots will be added to the platform in 2023

Zoom Video Communications Inc.’s Expansion

Zoom Video Communications Inc. is expanding its toolkit to include email and calendar functionality to combat a post-pandemic slowdown. With the addition of these functions, Zoom hopes to increase the amount of work that is done on its platform and promote the use of the app for more than just scheduling meetings. On November 8, 2022, Zoom said that its new email and calendar features, which will be made available to clients in a test form, can be connected to other popular services, including Alphabet Inc.'s Gmail and Microsoft Corp.'s Outlook. A Zoom-hosted email client is also available, which is targeted at smaller companies without dedicated IT departments.

In addition, more sophisticated artificial intelligence features such as call analytics and customer-facing chatbots will be added to the platform in 2023. These persistent team video calls are marketed as digital coworking spaces. The upgrades will be announced at Zoomtopia, the annual user conference for the startup based in San Jose, California.

Zoom Video Communications Inc.’s Shares, Net Income & Sales Growth

The share prices of Zoom’s platform fell 86% from their peak in October 2020. Zoom's rapid expansion during the pandemic came to an end as companies resumed operations and competition increased.

The growth in net income decreased significantly in 2022 compared to that in 2021, according to GlobalData. In 2022, sales to consumers and small enterprises are forecast to decrease. The annual sales growth decreased in 2022 to 54.6% compared to 325.8% in 2021, according to GlobalData.

The company is using the popularity of its video service to create a set of productivity tools that directly rival Microsoft’s Teams and Salesforce Inc.'s Slack. Always-on chat, group digital whiteboards, office phone systems, and even actual conference room setups are part of this category.

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