Zoom shares appear after users go from 200 million to 300 million in days

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Eric Yuan, founder and chief executive officer of Zoom Video Communications Inc., center, celebrates on his initial public offering at the Nasdaq MarketSite in New York on April 18, 2019.

Victor J. Blue | Bloomberg | Getty Images

Zoom stocks jumped more than 9% on Thursday after the company announced that its number of daily users had increased by 50% last month.

More than 300 million people used Zoom’s video conferencing software on April 22, CEO Eric Yuan announced in a webinar.

Zoom has seen a spike in users since the Covid-19 pandemic prompted many businesses and schools to work remotely. Zoom announced on April 1 that 200 million people were using its software in March, after the implementation of several home stay mandates, compared to around 10 million in December.

“It is clear that the Zoom platform provides an incredibly valuable service to our global users during this difficult time,” said Yuan.

The increase in the number of users has also sparked criticism of Zoom’s privacy and security. The company has announced that it will be discontinuing new functionality for the next 90 days as it strives to improve the privacy of the platform.

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