From e-commerce to social media and from entertainment to software here we list some tech companies that made billions during the initial period of the pandemic and even continue to do so at present.
The COVID-19 pandemic has wreaked huge havoc across the world as people lost their lives, livelihoods and hope for a better future. In addition to that incessant pandemic-induced lockdowns added to our woes as much as harsh restrictions of the government continue to do so. But, if you think that an invisible virus has led to absolute economic devastation across the globe, then you are simply mistaken.
It is often said that ‘Whatever happens, happens for good’ and in this regard, if we glean through the revenues that were generated by some of the behemoths in the world of tech during the pandemic, then the story changes completely. From e-commerce to social media and from entertainment to software here we list some tech companies that made billions during the initial period of the pandemic and even continue to do so at present.
As we all were locked up in our homes, we seldom got a chance to visit marketplaces and shopping malls which also remained closed for a considerable amount of time due the COVID induced lockdowns. Amid all these, e-commerce giant Amazon witnessed a massive increase of $853.5 billion during the pandemic months. Recently, the company revealed that it earned $125 billion in just three months.
Google owner Alphabet did witness an increase of 44 percent in its quarterly sale this time. While other corporates and firms suffered heavily due to the restrictions during the lockdown. Alphabet registered an increase of $376.46 billion. With this, Larry Page’s income spiralled by $24 billion last year.
Across the world, people’s love for Apple is quite known and even a once-in-century pandemic can also not affect it in any manner. This has been proven by a whopping increase of $1.2 billion in its value during the pandemic while its net worth currently stands at $2.17 trillion.
The indelible marks of lockdown that this pandemic has left on our conscience can never be forgotten. Amid those horrific days, while we were locked up in our homes, OTT platforms like Netflix came for our ultimate rescue, isn’t it? Even the figures suggest that Netflix revenues rose by $111 billion eventually taking the company’s net worth to $240 billion.
With the onset of lockdown, various conferences like official meetings and classes of students moved to digital video-conferencing apps like Zoom, and their demand also surged during the pandemic. As a consequence of it, the app clocked a whopping increase of $82.9 billion while the company’s total worth stood at $112.8 billion.