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    PartsTech, a Boston-based car component startup, bags $35 million

    PartsTech, a Boston-based car component startup, bags $35 million

    Gradiant raises $225 million in Series D, enters the unicorn club

    Gradiant raises $225 million in Series D, enters the unicorn club

    Ohmium, a green hydrogen startup closes $250 million Series C

    Ohmium, a green hydrogen startup closes $250 million Series C

    Vedanta Biosciences, a clinical-stage company, secured $106.5 million

    Vedanta Biosciences, a clinical-stage company, secured $106.5 million

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      PartsTech, a Boston-based car component startup, bags $35 million

      PartsTech, a Boston-based car component startup, bags $35 million

      Gradiant raises $225 million in Series D, enters the unicorn club

      Gradiant raises $225 million in Series D, enters the unicorn club

      Ohmium, a green hydrogen startup closes $250 million Series C

      Ohmium, a green hydrogen startup closes $250 million Series C

      Vedanta Biosciences, a clinical-stage company, secured $106.5 million

      Vedanta Biosciences, a clinical-stage company, secured $106.5 million

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      Zoom Facing Post-Pandemic Blues, Records Slow Q3 Profit Margins

      USTechTimes Editor by USTechTimes Editor
      November 30, 2021
      Zoom Facing Post-Pandemic Blues, Records Slow Q3 Profit Margins
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      Zoom Video Communications Inc’s third-quarter revenue growth rate slowed to 35 percent as demand for its video-conferencing tools eased from the pandemic-fueled heights last year, sending its shares down about 6 percent.

      Revenue was at $1.05 billion in the quarter ended October 31, Zoom said, after rising 54 percent in the previous quarter and surging 360 percent a year earlier. The stock, a pandemic winner, fell to $227.5 in extended trading after losing about 28 percent this year.

      Competitors mar the dream run

      The stiff competition posed by Cisco’s conferencing tool Webex and Microsoft’s Teams has made it challenging for Zoom to win over enterprise customers.

      Zoom reported an adjusted profit of $1.11 per share, beating Wall Street’s estimates of $1.09 per share, according to Refinitiv data. The company also forecasted current-quarter revenue and earnings above expectations and raised its full-year revenue estimate to around $4.08 billion from about $4.01 billion earlier.

      To retain its users, the company launched various new offerings such as the Events platform, where businesses can host large-scale conferences, cloud-calling service Zoom Phone and in-office meetings feature Zoom Rooms.

      “Their Rooms and Phone businesses are 5 percent penetrated or below and that seems to imply plenty of remaining runway for growth even within their existing capabilities only,” said Joe McCormack, senior analyst at Third Bridge said.

      Experts are wary about growth

      Investment bankers and analysts have warned that Zoom faces several hurdles in sustaining growth after its $14.7 billion bid to buy call center software firm Five9 fell through.

      Zoom stock moved swiftly higher last year as the company expanded from a contender in a narrow category of business software to a fabric of culture.

      Millions of people adopted its software to remotely attend classes and meet after the coronavirus pandemic made those types of gatherings difficult if not impossible. However, with the pandemic-induced exigencies easing out, the company is striving hard to keep itself afloat in a fiercely competitive market.

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        American ride-hailing giant Uber has reportedly laid off an additional 3,000 workers after closing over…

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      USTechTimes Editor

      USTechTimes Editor

      USTechTimes.com is an independent new media site that focuses on the latest technology and digital news in the United States and around the world. The site focuses on new startup launching, startup funding, and development in the startup space.

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