financetom
Business
financetom
/
Business
/
Zoom to expand presence in Singapore with R&D centre, hire hundreds
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Zoom to expand presence in Singapore with R&D centre, hire hundreds
Dec 16, 2020 3:32 AM

Zoom Video Communications Inc, the video-conferencing services provider, said on Wednesday it would expand its presence in Singapore by opening a research and development centre, where it will hire hundreds of engineering staff. Zoom said in a statement that is also doubling its data centre capacity in the country. The San Jose, California-based company opened the Singapore data centre, its first in Southeast Asia, in August.

Share Market Live

NSE

The company has seen a surge in users of its video conferencing service this year, with millions of workers and students using its video platform as they work and study from home due to the coronavirus-led lockdowns.

”We plan to immediately hire employees, leveraging Singapore’s highly educated engineering talent pool. Our new R&D center and data center will play a critical role in Zoom’s continued international growth,” said Velchamy Sankarlingam, president of product and engineering for Zoom.

Armed with lucrative grants and incentives, Singapore in recent years has been ramping up its efforts to lure tech firms and investors, including global players such as Facebook, Alphabet’s Google, and Chinese tech giants Tencent and Alibaba.

Last month, Singapore announced a new work visa for foreign executives of technology firms, a sector the low-tax global business hub hopes will power future economic growth. Zoom has previously said its hiring plans for Singapore would include engineers and sales staff.

While the share price has climbed sharply in 2020, Zoom warned last month that its margins would remain under pressure going into 2021 as its high number of free users makes it hard to offset a spike in costs to maintain its growth.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
--Boeing CEO Warns of Higher Costs, Supply Disruptions Due to Tariffs, Bloomberg Reports
--Boeing CEO Warns of Higher Costs, Supply Disruptions Due to Tariffs, Bloomberg Reports
Mar 6, 2025
10:43 AM EST, 03/06/2025 (MT Newswires) -- Price: 162.28, Change: -0.88, Percent Change: -0.54 ...
Dick's Sporting Goods Poised to Report 'Strong' Q4 Results, Wedbush Says
Dick's Sporting Goods Poised to Report 'Strong' Q4 Results, Wedbush Says
Mar 6, 2025
10:38 AM EST, 03/06/2025 (MT Newswires) -- Dick's Sporting Goods (DKS) is poised to report strong Q4 results on March 11, with material upside to consensus estimates, Wedbush Securities said in an earnings preview Thursday. Wedbush said it forecasts earnings per share of $3.64 for the company, up from the brokerage's prior expectation of $3.35 and higher than the consensus...
Market Chatter: Commerce Chief Says All USMCA Goods, Services Likely to Get 1-Month Tariff Reprieve
Market Chatter: Commerce Chief Says All USMCA Goods, Services Likely to Get 1-Month Tariff Reprieve
Mar 6, 2025
10:41 AM EST, 03/06/2025 (MT Newswires) -- All goods and services in compliance with the United States-Mexico-Canada Agreement are likely to be exempt from President Donald Trump's tariffs for one month, Commerce Secretary Howard Lutnick said in an interview with CNBC. (Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable...
Conduit Pharmaceuticals Gets Nasdaq Extension, Plans Capital Market Transfer
Conduit Pharmaceuticals Gets Nasdaq Extension, Plans Capital Market Transfer
Mar 6, 2025
10:41 AM EST, 03/06/2025 (MT Newswires) -- Conduit Pharmaceuticals ( CDT ) said Thursday that a Nasdaq hearing panel granted it an extension to meet listing requirements, with plans to transfer its shares to the Nasdaq Capital Market. The company said it must submit an application for the transfer by March 12 and meet all Nasdaq listing standards by March...
Copyright 2023-2026 - www.financetom.com All Rights Reserved