ZM: Does Not Have 300 Million New Users

Zoom admits it doesn’t have 300 million users, corrects misleading claims

Zoom quietly updated a blog post earlier this month

By Tom Warren@tomwarren Apr 30, 2020, 4:10am EDT…

Zoom has admitted it doesn’t have 300 million daily active users. The admission came after The Verge noticed the company had quietly edited a blog post making the claim earlier this month. Zoom originally stated it had “more than 300 million daily users” and that “more than 300 million people around the world are using Zoom during this challenging time.” Zoom later deleted these references from the original blog post, and now claims “300 million daily Zoom meeting participants.”

The difference between a daily active user (DAU) and “meeting participant” is significant. Daily meeting participants can be counted multiple times: if you have five Zoom meetings in a day then you’re counted five times. A DAU is counted once per day, and is commonly used by companies to measure service usage. Only counting meeting participants is an easy, somewhat misleading, way to make your platform usage seem larger than it is.

The misleading blog was edited on April 24th, a day after the numbers made headlines worldwide. After The Verge reached out for comment from Zoom, the company added a note to the blog post admitting the error yesterday, and provided the following statement:

“We are humbled and proud to help over 300 million daily meeting participants stay connected during this pandemic. In a blog post on April 22, we unintentionally referred to these participants as “users” and “people.” When we realized this error, we adjusted the wording to “participants.” This was a genuine oversight on our part.”


There was no intent to mislead. The comparison, and the reference to 30x increase, was apples-to-apples.

I would be genuinely concerned IF Zoom intended to pass-off an apples-to-oranges comparison to justify a 30x metric.

They didn’t do that at all. It was a poor choice of wording (“genuine oversight”) in the blog post title.

Still a rich valuation, but I went long puts this morning since it is clear that this is becoming a battleground stock.

Eric Przybylski