Zoom has been exploded to being the number one video and web-based online conferencing application around the world. Millions of people out there are using this app nowadays for their own reasons and purposes. One is allowed to use this app, whether for connecting with their family, friends, or dear ones. It is also used by business professionals and educational organizations in different parts of the world.
Zoom Video Communications, Inc. is known to be an American communication tech company which is based in California. It is known to be there to offer online chat and video telephony services through a cloud-based software program. It is generally used for telecommunicating, social relations, distance education, teleconferencing, etc. The business strategies of Zoom are there to focus on offering easy and effective use of the products than their competitors.
The meteoric rise of Zoom in the year 2020 brings out the most sought question, who owns Zoom? If you want to explore more information about the founders of Zoom, then keep on reading.
Who owns Zoom?
Eric Yuan, who happened to be a Cisco WebEx executive and engineer, founded Zoom in the year 2011. Yuan always had the belief that he had the ability to create a better web-based platform for the customers, along with the features of great video-based collaboration tools.
But after the creation of Zoom, Yuan was not the only owner of Zoom Video Communications. He had to raise the capital of Zoom for financing the growing operations of the company. In the initial days, the necessary capital was raised from the venture capital firms that need some kind of ownership stake in the return. All these investors, along with Eric, eventually became the owners of the company ever since.
Hence, if you want the answer of the question, ‘’who owns Zoom’’? Then the answer will be in the plural. Presently Zoom is regarded as a public limited company trading under stock ticker the ‘’ZM’’ on the NASDAQ. It simply means that anyone might become an owner of this company if he/she happens to buy some share of it. There are thousands of separate individuals that own some part of this company.
However, there are thousands of owners of Zoom; there happens to be the single largest owner of the company for holding a maximum share. Eric Yuan holds the maximum ownership of Zoom. He owns 28.5% of all the shares of the company. Today, the stock of Zoom is trading at $151.7, which means the ownership of Yuan values at $7 billion.
On the other hand, excluding investment funds and corporations, Li Ka-Shing happens to be the second-largest owner of the company. This Hong Kong-based business tycoon is known to be the richest man in Asia who is holding an 11.6% share in Zoom. That apart, the 3rd largest owner of the company is Solina Chau, who happens to have a 7.9% share in the company.
On the other hand, among the institutional owners, Emergence Capital Partners, a venture capital firm, is known to have the most share of Zoom. They happen to have a 19.7% share in total. Then there is Sequoia Capital. They have a 16.1% share in the company. Some of the other notable shareholders of Zoom are Salesforce and Artisan Partners Limited Partnerships. Artisan Partners Limited Partnership happens to have a 6.40% share, and Salesforce has 2.50% share in Zoom. The shares of Zoom have been reaching heights since March 2020.
Early years of Zoom
Once Zoom was founded by Eric Yuan, this web-based platform started its journey. Yuan eventually left Webex in the year 2011, along with 40 engineers of the company, to begin another company. Zoom, in its initial days, had difficulty in having investors because people thought that the video telephony market had become saturated. In the month of June 2011, Zoom managed to raise around $3 million from the former Cisco SVP, the WebEx founder, as well as Dan Scheinman and others.
In 2012, the name Zoom was acquired. In September 2012, Zoom managed to launch the beta version of the application that was able to host a meeting with 15 video participants at most. In 2012, Zoom signed a deal with Stanford University as its very first customer out there. Service of Zoom was happened to launch in the month of January 2013 after raising around $6 million from Yahoo, Qualcomm Ventures, and others. Therefore Zoom launched its 1.0 version of the program that allowed 25 numbers of people to participate in the meeting together at once. At the end of the first month, Zoom had already managed to have 400,000 users which reached around 1 million by the month of May 2013.
In the month of July 2013, Zoom was able to establish effective partnerships with the B2B collaborations software provider named Redbooth. Then they managed to create a useful program known as Works, which made them have partnerships with Logitech, InFocus, and Vaddio. By the end of 2013, Zoom was successfully able to raise more than $6.5 million from Waze and Facebook. By the end of the first of 2014, Zoom managed to have 10 million users worldwide.
In the year 2015, Zoom got $30 million in funding from different investors around the world, such as Horizon ventures, Emergence Capitals, Jerry Yang, etc. They also reached around 40 million users at the same time. More than 65,000 organizations around the world got subscriptions of Zoom. Then in the years 2015 and 2016, Zoom managed to integrate the software along with Slack, Skype for Business, and Salesforce.
They bought version 2.5 in the month of October 2015. They also enhanced the maximum numbers of allowed participants in a single meeting to 50. In the month of November 2015, David Berman became the president of Zoom. On the other hand, Peter Gassner was named as one of the members of the board of directors of Zoom. Hence, multiple names are known to be the answers to the question, who owns Zoom?