Eric Yuan, CEO, Zoom Video Communications
Zoom founder and CEO Eric Yuan on Thursday apologized for security lapses that have been highlighted in the media recently and outlined what the company is doing to fix those problems. He also said in March the company noticed a huge spike in users, up to 200 million people per day, from about 10 million in December of last year.
Shares of Zoom were down more than 12% on Thursday morning.
“We recognize that we have fallen short of the community’s – and our own – privacy and security expectations,” Yuan said. “For that, I am deeply sorry, and I want to share what we are doing about it.”
Zoom has been criticized for sharing data with Facebook, abusing permissions on Mac, problems related to zoombombing, not properly describing how it encrypts data and having a vulnerability that allegedly leaves exposed Windows login credentials to hackers.
Yuan said the product was designed for enterprises that run huge “security reviews” of its app, but that it wasn’t designed “with the foresight that, in a matter of weeks, every person in the world would suddenly be working, studying and socializing from home.”
To fix some of these issues, Yuan said Zoom will commit to working on privacy for the next 90 days and will freeze work on all other features. It will include a bug bounty program, which pays people who discover and report security flaws, and a review of the platform with third-party experts, Yuan said, adding that he’ll host a weekly webinar on Wednesdays at 7 a.m. Eastern to discuss the company’s progress.
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