*Zoom, founded by Eric Yuan* Zoom App Vision:- “Video communic | Brain Vibe ®

*Zoom, founded by Eric Yuan*
Zoom App Vision:-
“Video communications are empowering people to accomplish more.”
Zoom App Mission:-
“Make video communications frictionless.”
*How did zoom start?*
Zoom was founded in the year 2011 by Eric S. Yuan. It is headquartered in San Jose, California. He was a former executive at Cisco WebEx.
At Cisco, he came across the fact that customers were disappointed because of the poor audio and video quality when many people tried connecting to the App. He decided to start his own Video conferencing platform, which was initially named Saasbee later on rebranded as Zoom.
*Zoom founding story*
Zoom launched its first product in 2013. Video conferences could host 40 people at the same time. With advancements in technology and improved updates, the number of people that can attend a meeting has become 500.
By May 2013, Zoom reached a significant peak of 1 million participants. Zoom has simultaneously improved its database and included more proficient features, thus attracting many more users. Currently, Zoom App has 2.5k plus employees, 1 lakh plus followers on Facebook, and 2 lakh plus twitter followers. Zoom hosted Zoomtopia 2017 from September 25-27, 2017, its first annual user conference. Zoom announced a partnership with Meta to integrate Zoom with augmented reality, integration with Slack and Workplace by Facebook, and first steps towards an artificial intelligence speech recognition program.
It has two core products: Zoom Meetings and Chat as well as Zoom Rooms and Workspaces.
Zoom Rooms and Workspaces are used by large scale organizations to conduct virtual meetings.
*Zoom funding*
In May 2011, Zoom started with a seed funding of $3 million.
This increased to $6 million in Jan 2013 in Series A from its investor Qualcomm Ventures.
In September 2013, it raised $6.5 million in Series B from its investor Horizon Ventures.
In December 2014, it raised $30 million in series C from the investor’s emergence, Horizon, and Qualcomm.
In January 2017, it raised $30 million in Series D from the investor’s Sequoia, Emergence, AME cloud ventures, and Qualcomm, making it so-called Unicorn.
In April 2019, it raised $840 million in IPO.
*Zoom annual revenue and valuation*
Zoom was already profitable before its IPO and earned $7.58 million in net income for the fiscal year 2018. Its annual revenue in 2019 was $622.7 million, up 88% year-over-year. In Q1 2020, the revenue was $188.3 million. Currently, zoom is valued at 68B.