Zoom is now worth more than American Airlines, Expedia and Hilton combined
The video-conferencing app is now valued more than the combined market capital of American Airlines, Expedia and Hilton
Security issues? What security issues?! Teleconferencing app Zoom is now valued more than the market capital of US' "blue-eyed boys" American Airlines, Expedia and Hilton combined.
According to reports, as of April 8 closing, "Zoom had a market cap of $31.73 billion, while the combined value of Hilton ($18.26 billion), American Airlines ($7.91 billion) and Expedia ($ 4.35 billion) stood at $30.52 billion".
People under lockdown have been extensively using Zoom for personal and official teleconference calls across schools, offices etc. In fact, Zoom has also been used for weddings, funerals and zoom parties.
On the other hand, sectors like aviation and hospitality have been the hardest hit by the lockdown. Hilton's value has declined by half from the $31 billion recorded in January, As per April 3, American Airlines and Expedia have dropped $4 billion and $7 billion in market cap.
Also Read: How to delete your Zoom account
Zoom has doubled over this same time period. Zoombombing and Zoom raiding has not derailed Zoom's meteoric rise. Zoom has since updated its privacy and security policies and has allowed users to password-protect calls to prevent hackers from joining.