Zoom Video Communications Inc said on Tuesday it has started using Oracle Corp’s cloud computing service to help handle the surge in online video call volumes brought on by the novel coronavirus pandemic. As corporations and schools shift to remote work and billions of people subject to stay-at-home orders seek ways to remain connected, Zoom has seen daily meeting participants rocket from 10 million in December to 300 million.
The deal is a big win for Oracle, which wants to catch up with rivals such as Amazon and Microsoft that have greater market share, and is selling a new generation of cloud technology after its first generation efforts failed to gain traction. Zoom and Oracle did not disclose the size of the deal, but said traffic for “millions” of meeting participants is being handled by Oracle’s cloud service and about 7 million gigabytes of Zoom data per day is flowing through Oracle servers.
Oracle founder Larry Ellison [photo], who is a major Trump donor, is worth $67 billion. Yesterday it was reported that US billionaires have collectively gained over $300 billion in net worth just this month.