It's funny you'd say that when there are so many companies doing chat and video software and they're all billion dollar companies.
Quick math, assume one tool is charging $8 per employee per month (meaning $100 a year). It only takes one million customers to be a billion dollar company ($100M yearly recurring revenues at 10x valuation).
And one million customers is just a couple of fortune 100. The whole market is orders of magnitude bigger than that!
That's assuming there is a monopoly. The cost of providing a chat service is low and dropping. If Microsoft or Google can provide it for free on top of the communications services companies are already buying, why would anyone pay an additional $8 per user per month for chat?
Companies are paying as much as $25 per month per employee for minor tools. It's not uncommon that a company has 3 different tools doing the same thing. Enterprise are not rational actors trying to save money. Vendors don't go below $5 a month because they know enterprise will bear the cost.
Quick math, assume one tool is charging $8 per employee per month (meaning $100 a year). It only takes one million customers to be a billion dollar company ($100M yearly recurring revenues at 10x valuation).
And one million customers is just a couple of fortune 100. The whole market is orders of magnitude bigger than that!