Slowing Growth at Zoom

he Kamala Harris campaign has reportedly raised $200 million in just over a week, after President Biden announced he’d be dropping out of the race and endorsed his VP as the Democrat Party’s next nominee.

Perhaps even more staggering than the amount being raised in such a brief period, though, is where a significant chunk of it has been coming from. Indeed, an arena better associated with drawn-out work calls and lockdown meet-ups is now fertile ground for political party fundraising: Zoom.

Despite its latest function as a fundraising vehicle, Zoom has struggled in recent quarters to maintain the momentum observed during its pandemic-era boom. While year-over-year revenue growth already consistently rose above 100% throughout FY 2019, and stayed relatively high in the year after, 2021 saw revenue growth expand by as much as 370% in a single quarter, as we migrated our work and social lives online.

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