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

The company is worth more than $140 billion.


Alfred Lee

30 Oct, 2020

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.

Already a member?

Sign in to read this article & enjoy the following:

  • Access to members-onnly content, events, and more
  • Connect with a global community of CEOs, Business Owners, and more.
  • Free Business Feature & Profile Listing
  • Post Unlimited Jobs & Hire Talent Effectively
  • Connect with Investors and Fundraise
  • Search through entire members, companies, and investors directory
  • and lots more!

Latest Jobs

English-Korean Freelance Transcriber in Singapore

Elite Asia

Singapore

Contract / Freelance

Salary Undisclosed

Accounting Officer

Gallons & Grapes Pte Ltd

Tuas Shipyard, Singapore

Full Time

SGD 3000 — SGD 4000 monthly

Account Manager (Hybrid)

Pinkerton

New York, NY, United States

Full Time

Salary Undisclosed

Customer Service Representative

Gamer's Hideout Sdn. Bhd.

Dataran Prima, Petaling Jaya, Malaysia

Full Time

MYR 3000 — MYR 4000 monthly

GROCERY SHOPPER UP TO $11/H !THEY ORDER, YOU SHOP!

RecruitFirst

SIngapore, Singapore

Contract / Freelance

SGD 9 — SGD 11 monthly

English Technical/Legal Writer

Pacston Technology Group

Kuala Lumpur, Malaysia

Full Time

USD 20000 — USD 60000 monthly

Junior Accounts Cum Admin Assistant

LABEL-LINE CORPORATION PTE LTD

Kallang, Singapore

Full Time

SGD 1600 — SGD 1800 monthly

Head of Developers

TWGT

Manila, Philippines

Full Time

USD 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 startup jobs, news, and discussions.

 
© 2016 - 2022 BEAMSTART. All Rights Reserved (Legal).