Zoom backwards claims to have 300 million active users per day

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Eric Yuan, CEO of Zoom Video Communications poses for a photo after participating in a ringing ceremony at the NASDAQ MarketSite in New York, April 18, 2019.

Carlo Allegri | Reuters

Zoom shares fell more than 5.5% Thursday after the company fell, claiming that it has 300 million active users a day.

Zoom initially announced on April 23 that it had seen a 50% increase in the number of daily users, but then updated its statement to indicate that it had 300 million participants in the daily meeting. The difference between daily active users and participants is that meeting participants can be counted more than once. Daily active users are a key metric for businesses to report usage of the platform. Zoom declined to provide an updated daily number of users.

The Verge previously reported the language change.

“We are humble and proud to help over 300 million daily meeting attendees stay connected during this pandemic. In an April 22 blog article, we unintentionally called these participants “users” and “people”. When we realized this error, we adjusted the wording to “participants”. It was a complete oversight on our part, “said a Zoom spokesperson in an emailed statement.

Zoom also joined NASDAQ 100 on Thursday.

Video conferencing companies have experienced significant growth in the number of users since the Covid-19 pandemic has displaced many people into online work. The title Zoom jumped this year as it became a dominant player during the pandemic, although Facebook and Google recently announced new measures to compete with the company. Microsoft also saw strong growth in Teams, its workplace chat and video conferencing application, when it released its results on Wednesday. Microsoft said Teams now has 75 million active users a day.

Disclosure: CNBC’s parent company, NBCUniversal, is an investor in The Verge’s parent company, Vox Media.

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