Eric Yuan : Yes, I think that’s a good question. First of all, I don’t think that we will depart — it’s departure to what are we trying to do before, so meaning more like an augment to whatever doing now. Because given a lot of new opportunities, I do not think everything should be done by our own developers, right? And that’s why we also want to leverage the third party. I do — not something tuning as a strategy, just more augment to what we’re doing today.
Kelcey McKinley: And we’ll go ahead, and we’ll move on to Mark Murphy with JPMorgan.
Mark Murphy: So you’ve added so much value into the product. When we look at the amount of recording storage, the white-boarding, you have mail and calendar client and so much more that’s on the come. Could you update us perhaps on your pricing strategy and whether you think this could be the right time to perhaps increase prices a bit or even to just go out of maybe activate a CPI adjustment that would benefit you.
Eric Yuan : Yes, Kelly, please go ahead.
Kelly Steckelberg : Sure. We have announced a price increase for our online customers that we will be effective. I believe the date is March 1, as we announced it last — earlier this month, and we believe that reflects — and that’s only for monthly customers, not for annual customers. And we believe that starts to reflect the value, as you said, that we have created for our customers over the last few years it’s been many, many, many years, it predates me since the last time there was a price increase. And then on the Enterprise side, we did a pricing update all-inclusive with Zoom One, the bundle that we came up with last year. And we believe that really reflects the best way for our customers to buy and to get full value out of the platform. And that considers all of the products that are included and what we feel is an appropriate price point at this time.
Mark Murphy : Okay. But so nothing planned outside of Zoom One on the Enterprise side and nothing more material than what you had already announced.
Kelly Steckelberg : Yes. That’s right.
Kelcey McKinley: Piper Sandler’s James Fish has the next question.
Quinton Gabrielli : This is Quinton on for Jim Fish. In terms of the longer-term vision for Zoom, how is the team thinking about the maturity of the core meetings and phone products at this point, especially following what was a really strong Phone quarter in Q4. Do we need adoption of emerging products like Contact Center and e-mail or calendar to reaccelerate growth as we look to ’25 and ’26. Or are there catalysts that can help the core products kind of reaccelerate from the guided 2024 levels?
Eric Yuan : I think — great question. I think we sort of focused on both. I take Phone for example, the market potential is still huge. And we are doing extremely well and will help us more because given the product, very reliable as it’s really innovation and better than any other phone service providers. That’s why on core part, I see the huge growth opportunity. On to side of that, the new products Zoom Contact Center, Virtual Agent and Zoom IQ for Sales down the road, and more and more department of applications, in particular AI and is not a grid layer, I feel like a lot of new opportunity ahead of us. I think in the second half of this year, probably the transition period for us, given the — we launched the Contact Center early last year, Zoom IQ for Sales as well.
Although the new services, plus new services in the pipeline, I think, will help us. We need to focus on both. The reason why our real distributor are all-in-one collaboration platform, right? You can leave within a Zoom interface, can get most of work done, right? I think that that’s our business.
