Office Video Firm Goes Bankrupt After Remote Work Saps Sales

Video conferencing firm Lifesize Inc. filed bankruptcy, saying its office-to-office services were largely abandoned once employees started working from home during the pandemic.

The company’s core product — called VCaaS — was historically used by employees coming into conference rooms in order to connect remotely with people sitting in separate offices.

“When users stopped using conference rooms and, therefore, did not need Lifesize’s VCaaS offerings as much, the company’s VCaaS business declined abruptly and sharply,” Marc Bilbao, co-chief restructuring officer, said in court papers. At the same time, competitors less focused on in-office video were able to ...