# Zoom’s good week ends on sour note after Facebook crashes party with Messenger Rooms (HT Tech) > In a challenge to Zoom, Facebook said the goal of its new video platform, which will allow as many as 50 people per chat, was to offer users a more social and less corporate feel than what’s currently available. # Zoom’s good week ends on sour note after Facebook crashes party with Messenger Rooms ## In a challenge to Zoom, Facebook said the goal of its new video platform, which will allow as many as 50 people per chat, was to offer users a more social and less corporate feel than what’s currently available. Apr 26 2020, 16:46 IST ![Follow on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/follow-us-facebook.png) ![Follow on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/follow-us-facebook-hover.png) ![Share](https://images.hindustantimes.com/tech/static/revamp/images/png/Share.png) ![Share](https://images.hindustantimes.com/tech/static/revamp/images/png/Shareclicked.png) ![Share on WhatsApp](https://images.hindustantimes.com/tech/static/revamp/images/png/whatsapp.png) ![Share on WhatsApp](https://images.hindustantimes.com/tech/static/revamp/images/png/whatsapp-hover.png) ![Share on Twitter](https://images.hindustantimes.com/tech/static/revamp/images/png/twitter.png) ![Share on Twitter](https://images.hindustantimes.com/tech/static/revamp/images/png/twitter-hover.png) ![Share on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/facebook.png) ![Share on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/facebook-hover.png) ![Bookmark](https://images.hindustantimes.com/tech/static/revamp/images/png/Bookmark.png) ![Bookmarked](https://images.hindustantimes.com/tech/static/revamp/images/png/Bookmarked.png) ![Messenger Rooms is a new group video chat feature for which users can invite people from other platforms like WhatsApp, Instagram and Portal.](https://images.hindustantimes.com/tech/rf/image_size_960x540/HT/p2/2019/03/29/Pictures/facebook-outage_5510ee30-520c-11e9-b593-df9071890b8d.jpg) Messenger Rooms is a new group video chat feature for which users can invite people from other platforms like WhatsApp, Instagram and Portal. (AP) ![Author Photo](https://images.hindustantimes.com/tech/static/revamp/images/png/HTTech-new-circle-logo.png) ### By JERAN WITTENSTEIN In another winning week, shares in Zoom Video Communications Inc. ended on a sour note after Facebook Inc. disclosed plans for a competing video chat product called Messenger Rooms. Messenger Rooms is a new group video chat feature for which users can invite people from other platforms like WhatsApp, Instagram and Portal. Users can create a Room and share the invite with others who can simply tap on it to join the group call. The news sent Zoom shares tumbling, eventually closing with a decline of 6.1% on Friday. Still, the stock managed to gain more than 5% for the week, fuelled by a surge in users who have embraced the video-conferencing software for work and socializing while confined to their homes. Zoom's shares have jumped more than 130% this year, vaulting the company into the ranks of some of the most valuable U.S. companies. At $44 billion, Zoom's market capitalization is now bigger than nearly three-quarters of the companies in the S&P 500 Index. Also read click here. Also read: Mark Zuckerberg on rise of video conferencing apps amid Covid-19 pandemic Investors have flocked to Zoom with much of the world home-bound to combat the spread of the novel coronavirus. On Wednesday, Zoom reported a 50% jump in users in the past three weeks. Along with Zoom's success has come headache, with the San Jose, California-based company facing backlash over privacy and security concerns that prompted an apology from Chief Executive Officer Eric Yuan and moves to make the platform more secure. In a challenge to Zoom, Facebook said the goal of its new video platform, which will allow as many as 50 people per chat, was to offer users a more social and less corporate feel than what's currently available. Also read: Facebook Messenger Rooms vs Zoom: We compare the two video calling apps While Zoom already faced plenty of competition before Facebook joined the conversation, the news served as a reminder that the stock had a lot of optimism baked in as several analysts have recently warned. JPMorgan on Thursday said that the current surge in users won't necessarily result in a similar increase in revenue as many participants are using a free version. Last week, BTIG said Zoom is priced to "perfection" and warned of risks from security concerns. Zoom's valuation multiple has soared this year along with its share price. The stock is trading at around 29 times revenue over the past 12 months. That's more than four times the average of the 96 companies in the S&P North American Technology Software Index. Catch all the Latest Tech News, Mobile News, Laptop News, Gaming news, Wearables News , How To News, also keep up with us on Whatsapp channel,Twitter, Facebook, Google News, and Instagram. 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