Zoom Video Communications Inc. (NASDAQ:ZM) CEO Eric Yuan has stated that they want to partner with Microsoft Corp (NASDAQ:MSFT) and Slack Technologies Inc.’s (NYSE:WORK) chatroom functionalities. Yuan said that Zoom can do a better job in integrating office chatroom functionalities adding that collaboration is better for the company’s growth rather than competition.
Zoom interested in partnering with Slack and Microsoft on chatrooms
Yuan said in a virtual meeting with analysts that chat is a vital functionality for their overall usage. He said that the main priority is seeking ways of integrating chat, voice, and video. Yuan added that for now, its customers are contented with the chat sidebar they have during videoconferences, and Zoom is not interested in competing with Microsoft teams and Slack in delving more into that market.
Zoom is picking an open-minded approach, and the integration with Teams and Slack offers their customers flexibility. Yuan said that they don’t want to build their chatrooms to compete against Teams and Slack because Zoom doesn’t need that since its focus is voice and video.
Zoom unveils a raft of initiatives and products
The company had earlier unveiled a series of new initiatives and products during the Zoomtopia user conference to maintain the explosive revenue growth witnessed during the pandemic. Zoom pitched itself as a vital platform during the pandemic. It became a hub for corporate workflows and individuals who would like to do charity events due to social distancing.
During the conference, the company indicated that it targets an adjusted operating margin of 25% in the long-term with a gross margin of 80% on revenue. Under the framework, Zoom will spend 10-12% of its revenue on R&D and 30-35% of the revenue on marking and sales. However, the company has not specified a timeline for the goals.
The meteoric rise of Zoom has placed it in a better competitive position against the likes of Microsoft. Yuan said that he expects to partner more with Microsoft despite it having a competing service.