Changing business landscape of VC - Zoom Out !!!
By MYBRANDBOOK
The talk of the world in the pandemic era is on how to connect and re-connect through video conferencing app Zoom. The whole world seems to have taken to it in this time of lockdowns and social isolation.
COVID-19 pandemic has changed internet use in the United States and across the globe. The data provides an interesting insight into the ways the pandemic, and the resulting lockdowns around the country, have altered our relationships with technology.
Video chat services like Google Duo, Nextdoor, and Houseparty have all seen large increases in traffic since January 21st. Similarly, popular remote work apps, including Zoom, Microsoft Teams, and Google Classroom, have gotten more popular.
Zoom is targeting a market expected to hit $43.1 billion by 2022, according to IDC -- is planning to raise nearly $350 million when it goes public. This will value the company at around 8.7 times its last private market value of $1 billion. Zoom's revenues doubled to $331 million in the year ending January 2019 during which it earned net income of $7.6 million, according to its S1.
Eric Yuan is the founder and CEO of Zoom is a U.S.-based company but the software used in the online platform is said to be made in China, and some calls were also being routed through servers in China. Following a public debate recently over surveillance and private data being stolen during these calls, the Cyber Coordination Centre of the MHA issued a set of guidelines for safe usage by private individuals.
Several security vulnerabilities have been reported. One problem could compromise Windows passwords, while a problem with Zoom’s “Company Directory” setting could cause the platform to share personal email addresses inadvertently with other users—potentially hundreds or thousands of them. Another researcher pointed out a bug that could allow an attacker to take over the camera and mic on a Mac. A similar flaw was fixed last year.
In addition, it has pointed out that the Zoom website says the service supports end-to-end encryption, a high level of protection for personal communications, but that the service actually encrypts data only in transit, a less robust form of protection.
While none of these security glitches individually posts a huge threat to users, experts say that together they form a disturbing pattern.
Now the Ministry of Home Affairs (MHA) ,Government of India has now issued an advisory that Zoom is not a safe platform. Indian Computer Emergency Response Team (CERT-IN) had said, that multiple vulnerabilities have been reported in the video conferencing platform “which could allow an attacker to gain elevated privileges or obtain sensitive information.
So far as the guidelines are concerned, users are advised to set strong passwords and enable “waiting room” feature so that call managers could have a better control over the participants. They ask users to avoid using personal meeting ID to host events and instead use randomly generated meeting IDs for each event and not share the link on public platforms.
Now many organisations are shifting their required facilities to Team ( Microsoft), Webex ( CISCO),Skype or TeamViewer etc. as the available options.
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