Zoom Video Communications (NASDAQ:ZM) has benefited from the wave of new users over the course of the pandemic, but the company is not resting on its laurels. This video platform has expanded its capabilities with a software development kit and purchased an innovative tech company. On a Fool Live episode recorded on July 14, Fool contributor Brian Withers discusses the recent moves of this leading video conferencing specialist.
Brian Withers: Let's wrap up with Zoom Video Communications. ZM is the ticker symbol, not ZOOM, that's something else, ZM is the ticker.
At the end of June, Zoom announced its intention to acquire Kites, a real-time translation and transcription software company. Zoom had been offering transcription services, but only in English, and their translation services that they did have were through an interpreter, so this is game-changing.
As Zoom moves more globally, the need for cross communications across the world for people who speak different languages in maybe a multinational enterprise becomes a more urgent use case. Solving this with software is a great way to do this efficiently and at scale. I wouldn't be surprised [to see another acquisition in the future].
The other thing that's going on with Zoom, it only recently announced its SDK, its software development kit, to enable third-party developers to create Zoom-focused apps -- get this, ZAPPS, Z-A-P-P-S -- to enhance your meeting experience. I think there's some basic functionality that's missing from Zoom's meeting app, and I would love to see things more like agendas, timers, speaker tracking, you name it, and I think ZAPPS is a great way to do it and a great way for Zoom to look at, similar to what Atlassian is doing is finding partners that have great talent and great capabilities to add to their platform.