Video conferencing and office work platforms are shaping up to be a bright spot in a dark market, with Microsoft Teams more than doubling its users since November as the coronavirus forces more and more people to work from home.
Microsoft Teams now counts 44 million active users, up from 20 million in November, according to VentureBeat.
Microsoft's (MSFT) - Get Report work collaboration platform has added more than 12 million users in the last week alone as companies around the world have shut down offices and gone remote amid rising coronavirus infections and deaths in the United States and beyond, the tech publication reported.
Teams rival Slack (WORK) - Get Report reported its own good news on Thursday, saying it had added roughly 7,000 paid customers from beginning of February through March 18. This number represents more new paid customers than the company added in each of its previous fiscal quarters.
Shares of Microsoft rose 3.27% to just under $145 a share, while Slack jumped 14.10% to $20.55 on an up day for the markets.
The jump in users comes as Microsoft and Slack battle for market share in the office collaboration market, also going up against, Alphabet's (GOOGL) - Get Report Google Hangouts and Facebook's (FB) - Get Report Workplace platforms.
'We've seen usage spikes in markets most impacted by COVID-19," Jared Spataro, a corporate vice president at Microsoft 365, told VentureBeat. "The last seven days, however, have shown the sheer, unprecedented nature of the global demand we are seeing for solutions."
Still, the dramatic growth spurt by Microsoft Teams, first launched in 2017, has not been without its hiccups.
Microsoft Teams crashed last week, the second major outage in as many months. Microsoft Teams came down in early February after the tech giant failed to renew an TLS certificate, TechCrunch reported.
Microsoft Teams passed the 13 million active daily user mark in July, surpassing Slack, which had 10 million users as of that January, according to VentureBeat.