Zoom (ZM) is phoning a friend.
The video-conferencing platform is in the “early stages” of inking a deal with Google to boost the security of its popular platform, Zoom CFO Kelly Steckelberg said on Yahoo Finance’s The First Trade. “We will have more to talk about that in the future.”
It was reported earlier this week by The Information that Zoom was in talks with Google’s cloud division for a security deal.
The potential deal is the latest effort by Zoom to quiet concerns on the privacy of its platform.
The explosion in the use of Zoom amid the coronavirus pandemic has exposed privacy issues. Zoom bombing — where hackers inexplicably jump into a Zoom call — have increased in frequency in recent months of heightened consumer and business use.
Zoom founder Eric Yuan has apologized for the issues, and has worked diligently to hire security and privacy experts to fix the problems. Many of the security flaws in Zoom are expected to be addressed within the next 90 days, Yuan has said.
Despite those privacy concerns, Zoom is still fresh off a bang up first quarter this week that shocked even the most optimistic analysts on Wall Street. First quarter revenue surged 169% year-over-year. Operating profits boomed more than six times versus last year to $54.6 million.
The impressive results sent Zoom shares into a new orbit — the stock is up 9% in the last five sessions and 192% year-to-date.
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