No Zoom for You New York City - Schools, That Is

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No more Zoom for you, New York City - students, that is.

Video conferencing service Zoom Video (ZM) - Get Report, which has gained enormous popularity amid the coronavirus pandemic and lockdown as both businesses and educators have moved to virtual meetings, is being banned by the New York City Department of Education over privacy concerns.

Department of Education Chancellor Richard Carranza says security and privacy issues were behind the department's decision to ban the platform "as soon as possible.” Schools are instead being directed to use Microsoft (MSFT) - Get Report Teams, which the department has already started training teachers and staff to use. 

The platform is compliant with student privacy laws, including FERPA, the Family Educational Rights and Privacy Act.

The moves follows a mass-shift among students and teachers to the video-conferencing platform, which in turn had catapulted Zoom’s shares to new heights as the number of users on its platform surged.

However, with its widespread success has come issues of privacy, in particular a phenomenon known as "Zoombombing," in which individuals infiltrate online meetings and classes and share indecent images or worse.

Meanwhile, Zoom founder and CEO Eric Yuan has dumped some $38 million of the company's stock ahead of the security-breach investigations, according to recent regulatory filings.

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