Zoom, a leading tech company known for its videoconferencing platform, has recently opened a satellite office in Bellevue, Washington, joining other tech giants such as Microsoft and Google in the region. The company has leased 19,085 square feet of space at the Symetra Center, a 25-story building. With four open positions in Seattle, Zoom is tapping into the region’s robust tech talent pool, which includes more than 100 other tech companies with engineering outposts in the area.
Zoom’s new office in Bellevue puts it in direct competition with Microsoft and Google, both of which have a significant presence in the Seattle region. Michelle Chang, a former leader at Microsoft, joined Zoom as its new CFO in October. While Zoom is best known for its videoconferencing platform, the company has diversified its product offerings to compete more broadly with its competitors. It recently launched AI Companion 2.0, positioning itself as an “AI-first work platform for human connection.”
In terms of financial performance, Zoom reported revenue of $1.1 billion in the third quarter of 2021, marking a 3.6% year-over-year increase. Earnings per share also rose to $0.66 from $0.45 in the previous year. The company’s stock has seen a 20% increase in the past 12 months, and it currently serves around 192,400 enterprise customers. Despite its success, Zoom has been navigating the challenges of the pandemic by instituting a hybrid work model, asking employees to return to the office two days a week.
Zoom’s expansion into Bellevue reflects a broader trend of tech companies establishing a presence in the Seattle area. OpenAI recently opened an office in Bellevue, following in the footsteps of Amazon, which is growing its footprint in the region. Other companies such as Snowflake, ByteDance, and Pokémon are also expanding in the Seattle area. The move to Bellevue allows Zoom to leverage the region’s tech talent, enhance its competitive position, and continue to grow its business in a dynamic and innovative environment.
