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Zoom buys Five9 for $14.7 million to 'give you more happines

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Zoom buys Five9 for $14.7 million to 'give you more happines

Postby ritcha » Sat Jul 24, 2021 9:31 pm

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Zoom, a platform for hosting meetings or webinars The company, which has become a popular application during the COVID-19 pandemic, has acquired cloud-based contact center development company Five9 for $14.7 billion.

We are constantly looking for ways to improve our platform, and the addition of Five9 is a perfect fit to deliver happiness and value to our customers.

Eric Yuan, CEO of Zoom
Under the terms of the deal, Five9 will become Zoom's operating unit, and CEO Rowan Trollope will become chairman of the company.

Five9 has over 2,000 clients worldwide, including SalesForce and UnderArmour, and Zoom's acquisition of Five9 is to grow its business. It may complement Zoom Phone, Zoom's cloud telephony service, and Five9. This is Zoom's first deal to buy another company for more than $1 billion. It was a decision to maintain the momentum gained during the coronavirus pandemic. This has led people to work and study abroad during lockdowns.

The hybrid work trend has been growing since last year. It moves contact centers to the cloud and increases the demand for customized customer experiences.

Eric Yuan, CEO of Zoom
Five9's revenue was $435 million (approximately 14.28 million baht) compared to the previous year. Revenue has grown 33%, while Zoom's share price has tripled since the pandemic lockdown. But now, Zoom's share price has begun to grow more slowly, with revenue up 326% in 2020, while in Q1 2021 Zoom's revenue up 191%.

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Re: Zoom buys Five9 for $14.7 million to 'give you more happ

Postby verstellen » Wed Aug 04, 2021 9:19 am

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Re: Zoom buys Five9 for $14.7 million to 'give you more happ

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