Popular video conferencing platform Zoom Video (ZM) - Get Report said on Monday afternoon it had resolved the issues that prevented many users from being able to access meetings and webinars for much of the morning.
On its service status page, Zoom reported at 12:37 a.m. ET that "We have resolved the issue causing users to be unable to start and join Zoom Meetings and Webinars. Users are now also able to sign up for paid accounts, upgrade, and manage their service on the Zoom website." And at 1:10 p.m. PT, it said that it had resolved further issues with meetings, webinars and accessing accounts. It said it first received reports of problems at 8:51 a.m. ET.
Web tracker Down Detector had documented almost 17,000 reports of issues with the platform as of 10 a.m. ET.
Shares of Zoom were falling 2.1% to $283.67 on Monday afternoon. 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.