Zoom

Since the pandemic, Zoom has become a staple for many employees' day-to-day work lives. Through a new acquisition, Zoom is broadening its services beyond video conferencing, aiming to transform into a digital workplace. 

Also: Zoom's new AI tools will soon summarize your meetings for you

On Friday, Zoom announced that it is acquiring Workvivo, an employee engagement and communication platform founded in 2017 and used by many brands including Lululemon, Ryanair, and Liberty Mutual. 

We believe people work to live, not live to work -which is why we're excited to share @workvivo will be joining our team! Together, we will expand our platform and focus on putting your people at the heart of work. https://t.co/LfzuXsEywX

- Zoom (@Zoom) April 14, 2023

Workvivo is an app that functions as a central hub employees can use for workplace engagement and communication tools such as polls, surveys, shout-outs, email digests, community groups, organization charts, shared calendars, and more. 

Zoom says that a major goal of the acquisition is to provide customers with a new way to engage in today's hybrid work model and to help maintain company culture.  

Also: Google Meet vs. Zoom: Which video conferencing software is best?

"Engaging employees and driving culture through connection is no longer a 'nice to have' -- it's imperative for success in today's business environment," said Zoom in the press release. 

Upon the closing of the transaction, which is expected to happen in Q1 FY2024, Zoom plans to incorporate Workvivo's capabilities into its platform. The actual terms of the transaction were not disclosed. 

Innovation

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