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Zoom’s revenues outside the Americas grew 629% YoY

Zoom

Video-conferencing company Zoom Video Communications Inc. did not disclose the total number of customers using its platform, but said that around 433,700 organisations with over 10 employees were using its service as of September 2020, growing by 485% YoY. This segment alone made up 62% of revenue. This growth in the user base was higher than the 355% YoY growth reported in the previous quarter. The company has 1,289 customers contributing over $100,000 in revenue, trailing 12 months, up by 136% YoY; this is an increase of 300 customers over the previous quarter, it said. In Q3, customers with 10 or fewer employees represented approximately 38% of revenue, up from 36% in Q2. The company's revenue tripled, primarily driven by new customer subscriptions which accounted for 81% of the increase. This demand was broad-based across products, industry verticals, geographies and customer cohorts, Zoom's chief executive officer Eric Yuan said on the earnings call. A significant presence of usage was from both free and paid participants in the education sector. There was no significant change in the overall deal sizes with new customers, he said, adding that customers who first begin with using Zoom Meetings, tend to add Zoom Phone as well, such as Rakuten and Peloton. Zoom's Americas business grew by 300% YoY, and combined APAC (Asia Pacific) and EMEA (Europe, Middle East, Africa) revenue grew 629% YoY. Zoom Phone was the fastest growing product in Q3, and is expected to be a key driver next year. End-to-end encryption on Zoom,…

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