Zoom jumps to record with market cap now above $50B

Zoom Video Communications Inc. soared to a record on Friday with a rally in the last hour of trading, helping the company close with a market value above $50 billion for the first time, Report informs, citing Bloomberg.

The maker of video conferencing software rose 9.7% to $179.48, giving it a market value of $50.6 billion. 

Zoom has added more than $30 billion in market value this year.

The number of Zoom users reached 200 million in March 2020, up 20-fold from December 2019.