Zoom Video Communications, Inc. is an American communications technology company headquartered in San Jose, California. It provides videotelephony and online chat services through a cloud-based peer-to-peer software platform. It is used for teleconferencing, telecommuting, distance education, and social relations. Its aggressive revenue growth, and perceived ease-of-use and reliability of its software, resulted in a USD 1 billion valuation in 2017.
About Zoom Video Communications in brief
Zoom Video Communications, Inc. is an American communications technology company headquartered in San Jose, California. It provides videotelephony and online chat services through a cloud-based peer-to-peer software platform. It is used for teleconferencing, telecommuting, distance education, and social relations. Eric Yuan, a former Cisco engineer and executive, founded Zoom in 2011, and launched its software in 2013. Zoom’s aggressive revenue growth, and perceived ease-of-use and reliability of its software, resulted in a USD 1 billion valuation in 2017, making it a \”unicorn\” company. The company first became profitable in 2019, and completed an initial public offering that year. It joined the NASDAQ-100 stock index on April 30, 2020. Its software products have faced public and media scrutiny related to security and privacy issues. A portion of Zoom’s workforce is based in China, which has given rise to surveillance and censorship concerns. In May 2017, Zoom announced integration with Microsoft’s conferencing systems, enabling features such as multiple screen and wireless screen sharing. On April 18, 2019, the company became a public public offering via an initial share offering on US$36 per share. After the IPO, Zoom’s share price increased over 72% to over $36.50 per share on September 25-27, 2017. At this time, Zoom had 40 million users, with 65,000 organizations subscribed and a total of 1 billion meeting minutes since it was established.
In April 2020, the app’s CEO, Eric Yuan,. announced Zoom’s daily users have ballooned to more than 200 million. In November 2015, former president of RingCentral David Berman was named president of the company, and Peter Gassner, the founder and CEO of Veeva Systems, joined Zoom’s board of directors. In July 2013, Zoom established partnerships with B2B collaboration software providers, such as Redbooth, and also created a program named Works with Zoom. In January 2017, theCompany raised US$100 million in Series D funding from Sequoia Capital at a US$1 billion valuation. With version 2. 5 in October 2015, Zoom increased the maximum number of participants allowed per conference to 50 and later to 1,000 for business customers. In May, Zoom launched a scalable telehealth product allowing doctors to host remote consultations with patients. It also announced a partnership with Meta to integrate Zoom with augmented reality, augmented reality integration with Slack and Workplace by Facebook, and first steps towards an artificial intelligence speech recognition program. In June 2011, Zoom raised USD 3 million of seed money from WebEx founder Subrah Iyar, former Cisco SVP and General Counsel Dan Scheinman, and venture capitalists Matt Ocko, TSVC, and Bill Tai. At that time, it had 3 million users.
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This page is based on the article Zoom Video Communications published in Wikipedia (as of Dec. 14, 2020) and was automatically summarized using artificial intelligence.
