Popular video conferencing platform Zoom Video (ZM) – Get Report is experiencing service issues, according to web tracker Down Detector which has documented more than 12,000 reports of issues with the platform as of 9 a.m. ET.
On its service status page, Zoom reported at 6:50 a.m. PT that “We have identified the issue causing users to be unable to authenticate to the Zoom website (zoom.us) and unable to start and join Zoom Meetings and Webinars, and we are working on a fix for this issue.” It said it first received reports of problems at 5:51 a.m. PT.
Shares of Zoom were falling 2.5% to $282.74 on Monday morning. Shares have more than quadrupled this year as usage of Zoom has increased exponentially during the global lockdowns spurred by the coronavirus epidemic.
Zoom reported in June that its revenue rose 169% annually during its April quarter, a major acceleration from the 78% growth seen during its January quarter. The company also disclosed that meeting minutes among Global 2000 customers tripled sequentially, and it nearly doubled its fiscal 2021 (ends in Jan. 2021) revenue guidance to a range of $1.775 billion to $1.8 billion.
Earlier this year, a couple of U.S. senators petitioned the Justice Department to investigate Zoom for allegedly disclosing private information about its users to the Chinese government.
“We are extremely concerned that Zoom and TikTok have disclosed private information about Americans to the [People’s Republic of China] and engaged in censorship on behalf of the Chinese government,” said Senators Richard Blumenthal (D-CT) and Josh Hawley (R-MO).
“As tens of millions of Americans turn to Zoom and TikTok during the Covid-19 pandemic, few know that the privacy of their data and their freedom of expression is under threat due to the relationship of these companies to the Chinese government,” the senators’ letter said.
Earlier this summer, Zoom unveiled a new Zoom for Home videoconferencing system for $599 that features a touchscreen aimed at remote workers.