There were special shifts, in the mornings, evenings, extra hours on weekends, servers were also rented – everything to cope with the great demand. “We experienced the pandemic wave up close in our offices”, Oliver Steil, CEO of Teamviewer, describes the last few months in the podcast “The Hour Zero” (Personal-Financial.com, Stern, n-tv). In the company there was an “unrestrained commitment of the employees”.
Teamviewer is a German success story, a tech success story. The provider of software for remote access and remote support was founded in 2005 and sold in 2014 to the financial investor Permira. In 2019 Teamviewer went public, where it is currently valued at over 9 billion euros. Permira still holds 39 percent of the shares. The software is installed on 2.25 billion devices worldwide.
Teamviewer benefits from the digitization boost in the crisis
In the crisis, when numerous companies switched to home offices, the topic of remote access became even more important. The use of Teamviewer software is free of charge for private customers, companies must purchase licenses. In the lockdown, however, Teamviewer decided to end the separation. “When the crisis in China started, we said quickly that it could be used free of charge, even for commercial purposes,” reports Steil, who has headed the Göppingen-based company since January 2018. The claims process was also suspended for customers with payment difficulties.
Steep expects the surge in digitization to continue. The pandemic had raised awareness of the issue, companies would invest more. Demand had already risen sharply in the first quarter, and license revenues rose 75 percent year-on-year to almost EUR 120 million. “Sustainable development is in progress,” believes Steil. In the important US market alone, because the country is still fighting the pandemic, one has to wait and see which trends continue. In other countries, “digitization-now-but-really” got stuck in people’s heads.
You can hear why Oliver Steil is not annoyed by the boom of the video conference provider Zoom, how Teamviewer is using augmented reality and whether Göppingen wants to buy other companies Audio Now, Apple or Spotify or via Google.