Zoom jumps 11% after company announces it added 100 million new users in 3 weeks

• Zoom Video Communications jumped 11% in Thursday trading after the company announced it surpassed 300 million daily users on its platform.
• On April 1, Zoom announced it had exceeded 200 million daily users. That's an increase of 100 million daily users in just three weeks.
• The company had only 10 million daily users in December 2019, meaning the coronavirus pandemic has led to a 2,900% increase in daily users as people across the globe stay at home and socialize via the popular video conference app.
• Visit Business Insider's homepage for more stories.

Shares of Zoom jumped as high as 11% in Thursday trading after the video conference company announced it has surpassed 300 million daily users, an increase of 100 million users since its last update on April 1.

Zoom has seen its business boom since the coronavirus pandemic began earlier this year.

Prior to the pandemic, Zoom had just 10 million daily users, as reported in December 2019. But as millions of people across the globe have been under stay-at-home orders, many have turned to video conferencing with friends and family as a form of socializing.

Read more: The CIO overseeing $270 billion at Guggenheim says stocks will plunge another 27% from current levels — but lays out a series of recommendations for bargain-hungry investors

Zoom's stock has returned almost 150% year-to-date, at a time when it has seen its user base jump nearly 3,000%.

Read the original article on Business Insider