The video-conferencing app is trying to create an 'everything workplace' app in a crowded market.
Starting Monday, Zoom users will have the option to open a document tool from within their video calling app and create sharable files based on their meetings—but they’ll also be prompted to use generative AI to help them write and edit them. This new feature, essentially Zoom ’s version of docs, is the latest effort to compete with Microsoft and Google to become an everything workplace for businesses.
In early 2023, the company hit a tipping point—the number of clients that were willing to pay for Zoom had already done so, and fewer people were turning to it for “fun” Zoom calls with family or friends. The company dropped off the Nasdaq 100 at the end of 2023, and its share price is down nearly 90 percent from its 2020 high. Zoom laid off about 15 percent of its staff in early 2023, but seemingly aware it needed to expand, began integrating more calendar features and added cartoon avatars.
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