BEAMSTART Logo

9 year-old Zoom's market cap is now worth more than 130 year-old ExxonMobil

The company is worth more than $140 billion.


9 year-old Zoom's market cap is now worth more than 130 year-old ExxonMobil | BEAMSTART News

9 year-old video communications software company, Zoom, is now worth more than a 130 year-old oil giant, ExxonMobil, previously known as Standard Oil, founded in 1870.

Zoom is now worth $140 billion on Thursday at trading close, surpassing ExxonMobil's market capitalization of $137 billion.

Zoom CEO, Eric Yuan

Since the emergence of the pandemic, fortunes of both companies have flipped, with oil prices plummeting due to decreasing travel demand.

Schools and businesses relied heavily on Zoom's video conferencing tools as nationwide shutdowns took place around the world, skyrocketing the company's users and revenues.

On the flip-side, ExxonMobil announced on Thursday that the company would lay off 1,900 staff in US. The company has lost 55% in market value year-to-date, partly due to depressed oil prices.

However, giant conglomerate, JP Morgan is positive that the introduction of vaccines could change the market value of both companies in the long term. 

JP Morgan also listed Zoom as a stock to short if the vaccine is developed.

Latest Jobs

Influencer Marketing Associate

Niagahoster

Yogyakarta, Indonesia

Full Time

SGD 400 — SGD 1000 monthly

English Content Writer

Hostinger

Jakarta, Indonesia

Full Time

SGD 300 — SGD 600 monthly

Fund Accountant

Decacorn Capital

Singapore

Full Time

SGD 2500 — SGD 5000 monthly

Investment Analyst

Accial Capital

Singapore

Full Time

SGD 4000 — SGD 6000 monthly

Enterprise Solution Project Manager

Hukumonline.com

Jakarta, Indonesia

Full Time

SGD 2000 — SGD 2100 monthly

Operations Executive

Yojee

Singapore

Full Time

SGD 2800 — SGD 3500 monthly

Site Reliability Engineer

Livit

Singapore

Full Time

SGD 2000 — SGD 3500 monthly

Live Streaming Operator

SIRCLO

Tangerang, Indonesia

Full Time

SGD 800 — SGD 1100 monthly

Mobile Developer

Koltiva

Jakarta, Indonesia

Full Time

SGD 1000 — SGD 1100 monthly

Engineering Manager

Pegipegi

Indonesia Bulk Terminal, Indonesia

Full Time

SGD 1500 — SGD 2000 monthly

BEAMSTART is a hub for everything Startups, Entrepreneurship, and Innovation. Connect with a global community of people, and stay updated with the latest news, events, and opportunities.

 

Download the Community App

Connect with the BEAMSTART Entrepreneurship Community from the palm of your hands. Connect with CEOs/Founders, Investors, Business Leaders, and Professionals. Download below to instantly form partnerships and discover opportunities:

PlayStore ButtonAppStore Button

© 2016 - 2021 BEAMSTART. All Rights Reserved (Legal).