Zoom Video Communications, Inc. (NASDAQ: ZM) was founded in April 2011, formerly known as Saasbee, Inc., and changed to its current name in 2012. It is headquartered in San Jose, California, and has 1,702 full-time employees ( 1/31/2019), is a company that uses cloud computing to provide remote conferencing services. Zoom provides communication software that combines video conferencing, online conferencing, chat and mobile collaboration.
Zoom Video Communications (ZM):
Zoom is a leader in modern enterprise video communications, with a simple and reliable cloud platform that can be used to hold video and audio conferences, collaborate, deliver messages, and host webinars on mobile devices, desktops, phones, and conference room systems. Zoom Rooms is a software-based meeting room solution originally used worldwide, which is used in seminars, meetings, small meeting rooms, training rooms, executive offices and classrooms. Since its establishment in 2011, Zoom has helped many companies and organizations gather their teams into an ideal environment to become more efficient. Zoom is a private company headquartered in San Jose, California.
Zoom Video Communication Company provides a video-first communication platform that provides happiness and fundamentally changes the way people interact. The company connects people through video, voice, chat, and content sharing, and provides a face-to-face video experience for thousands of people in a single meeting on different devices and locations.
Zoom’s cloud-native platform provides reliable, high-quality video, is easy to use, manage and deploy, provides an attractive return on investment, is scalable and easily integrates with physical spaces and applications.
Zoom’s flagship product, Zoom Meetings, is a multi-person mobile phone cloud video conferencing software that provides users with free cloud video calling services with both high-definition video conferencing and mobile web conferencing functions. Users can conduct multi-person video and voice calls, screen sharing, meeting reservation management and other business communications with work partners through mobile phones, tablets, and PCs. Zoom supports high-definition video calls and is currently the leading mobile video conferencing tool. Zoom is suitable for Windows, Mac, Linux, iOS, Android systems.
Zoom regards Cisco ‘s Webex, Microsoft ‘s Skype, Google and LogMein as competitors, and stated that Amazon and Facebook “may invest in video communication tools in the past and in the future.” Zoom relies on its own data center infrastructure and also uses Amazon Web Services and Microsoft’s public cloud service Azure.
Zoom has gained widespread popularity by creating easy-to-use services that can work smoothly on a variety of mobile devices and are quite affordable even for small groups and teams, thus creating a broad and diverse customer base . The company said that its top 10 customers accounted for less than 10% of total revenue, and its thousands of customers include Uber , Williams-Sonoma , Palo Alto Networks , Proofpoint , Slack , Go Daddy , UCLA, RingCentral , and Sonos .
Unlike most technology companies at this stage, Zoom has already achieved profitability. According to documents released by the regulatory authorities, in the last fiscal year ended January 31, 2019, Zoom’s net profit was US$7.6 million and revenue was US$330.5 million, an increase of 118% over the previous year.
Zoom video communications company has raised a total of 145 million US dollars, investors include Emergence Capital and Horizons Ventures. Its earliest supporters include Gao Fengtou, Yahoo founder Yang Zhiyuan, WebEx founder Subrah Iyar, and former Cisco senior vice president and angel investor Dan Scheinman (Dan Scheinman).
Zoom Video Communications (ZM) product features:
1. Cloud video conference
- HD video
- High-definition voice through dynamic voice detection
- Full screen and library view
- Dual screen dual stream
- Feature-rich iOS and Android mobile apps
- Join through Zoom Rooms
- Join as a participant with only viewing rights (Zoom video webinar)
- Join through H.323/SIP conference room system
- Dial in to join by phone
2. Group assistance
- Mac, Windows, Linux, Chromebooks, iOS and Android
- Group messaging
- Evaluate and share documents, photos and video clips
- Sync screen sharing
- Share iPhone/iPad screen with iOS mirroring
- Annotations and joint annotations
- Keyboard and mouse control
- Work email, single sign-on (SSO) or Google login
- Secure Socket Layer (SSL) encryption
- AES 256-bits encryption
- HTTPS access
- Position-based access control
- Administrator function control
- Unlimited VOIP
- Call me / dial out
- Phone bill options
- Free options in 60+ countries
- Integrate any third-party conference call service
5. Hybrid cloud services
- Personal Cloud Conference Connector
- Virtualization software setup in minutes
- Easily measure and add features
- Local high availability
- 24×7 online monitoring
- Instant global service support
6. Simple online meeting
- High-quality desktop and application sharing
- Personal meeting ID and URL name
- Immediate or scheduled meeting
- Google Chrome and Outlook plugin
- MP4 or M4A recording
- Virtual background
- Host control
- Raise hand
7. Partner integration
- Content sharing
- Plan and kick-off meeting
- Single sign-on
- Marketing/process automation
- Meeting room collaboration
- Multi-person video calls: Zoom supports multi-person video conferences, allowing you to communicate online with multiple friends or colleagues during the call. No need for expensive hardware equipment, just install the Zoom software on your mobile phone or computer to initiate a video conference with one click.
- Add contacts: Zoom supports searching for Zoom numbers and adding frequently used contacts; the mobile version of Zoom supports viewing and importing the phone address book, and can invite friends with one click.
- Sharing screen presentation: In the Zoom video conference, the sharing screen function is supported. Demonstrate personal screen operation to other meeting friends, and explain in detail with speaking. In the process of sharing the screen, it supports functions such as brush marking, paragraph selection, network link jump presentation, color selection, and cancellation.
- Permissions of the meeting host: In a Zoom multi-person video conference, the initiator can organize and manage the video conference as the host, making the video conference more efficient and orderly. The moderator has the highest authority of the video conference, can manage the speech and participation authority of the participants, and can transfer the moderator’s authority to other participants.
- Remote operation: In a Zoom video conference, the initiator can authorize the participants to remotely operate the shared interface permissions to help participants express their views more clearly.
- Meeting recording: Supports the Zoom meeting recording function, which can record the audio and video of the meeting at the beginning or during the meeting. Support MCU, MP4, VLC and other formats to save files.
- Meeting reservation reminder: Zoom supports meeting reservation and reminder functions. The meeting time can be reserved in the zoom calendar, meeting information notification text can be automatically generated, and emails can be sent to participants quickly. Log in to Zoom on the mobile terminal to make an appointment. It supports SMS, email, address book and other methods to notify the participants. The information can be automatically synchronized to the mobile phone calendar and notebook applications, and the pre-meeting reminder function is supported.
Zoom Video Communications (ZM) financing:
- On January 27, 2013, the Series A financing raised $10.6 million.
- On September 23, 2013, Series B financing raised $6.5 million.
- On February 3, 2015, Series C financing received 30 million US dollars.
- On January 25, 2017, the D round of financing received 115 million U.S. dollars, valued at 1 billion U.S. dollars, and became a unicorn.
Zoom Video Communications (ZM) History:
- Zoom was founded in 2011 by Eric S. Yuan, chief engineer of Cisco Systems, and WebEx, its collaboration business unit. Founder Eric S. Yuan graduated from Stanford University and served as the vice president of engineering at Cisco, responsible for collaborative software development. The service started in January 2013, and by May 2013, there were already 1 million users. In the first year of its release, Zoom has established a partnership with B2B collaboration software providers. Its partnership with Redbooth (called Teambox at the time) helped in adding video components to Redbooth. Soon after this collaboration, Zoom created a program called “Works with Zoom”, which has established partnerships with multiple hardware and software vendors such as Logitech , Vaddio, and InFocus . At the end of the year, Zoom successfully integrated its software into Interview Stream, which provides employers with remote video interview capabilities. Interview Stream uses Zoom’s video service to expand their video interview capabilities.
- On December 11, 2013, Centrify Corporation announced that it would integrate Microsoft Active Directory, access control and single sign-on (SSO) compatible applications with Zoom.
- In 2013, Zoom entered China and brought this simple and practical multiplayer video tool to Chinese users.
- As of March 17, 2014, Zoom has increased the ability of participants to join the conference by dialing in a free public switched telephone network number through its cooperation with Voxbone. Version 3.5, released later that year, added mobile screen sharing to mobile devices running iOS.
- In June 2014, the number of participants in Zoom has increased to 10 million.
- As of February 2015, the number of participants using the main product of Zoom Video Communication-Zoom Meetings reached 40 million, of which 65,000 were subscribed by organizations. In addition, the company’s total meeting minutes during the entire service period exceeded 1 billion.
- On February 4, 2015, Zoom Video Communications received a $30 million Series C financing . Participants in this financing include Emergence Capital, Horizons Ventures (Li Ka-shing), Qualcomm Ventures, Jerry Yang and Dr. Patrick Soon-Shiong.
- On September 15, 2015, Zoom partnered with Salesforce to integrate video conferencing into the CRM platform, allowing salespeople to use their potential customers to initiate such meetings without leaving the app.
- On November 3, 2015, David Berman , the former president of RingCentral , was appointed as the president of Zoom Video Communications. Peter Gassner, founder and CEO of Veeva Systems , joined Zoom’s board of directors on the same day.
- In February 2016, Zoom opened a new office in Denver, Colorado. According to the company’s chief executive Eric S. Yuan, the reason for this expansion was to take advantage of the state’s “evolving technological sector” and its position in the central United States. Later that year, the company added the CIO of Basket Iyer-VMware as a business consultant.
- In January 2017, Zoom has officially entered the Unicorn Club and attracted Sequoia Capital’s Series D financing of US$ 100 million with a valuation of US$1 billion.
- On April 24, 2017, video communications provider ZOOM announced the launch of its first scalable telemedicine product, allowing doctors to visit patients for consultation through video. The solution, called Zoom for Telehealth, is integrated with other healthcare applications in the hospital’s infrastructure to provide patients with a “virtual waiting room.” It also allows signed business partner agreements to maintain HIPAA compliance for adopters.
- In May 2017, Zoom announced a partnership with Polycom through a new product called Zoom Connector for Polycom . The Zoom Connector for Polycom integrates Zoom’s video conferencing into Polycom’s conferencing system, supporting multi-screen and device conferencing, high-definition and wireless screen sharing, and calendar integration with Outlook, Google Calendar, and iCal.
- In August 2017, Marketwired issued a press release commending Zoom for several milestones in the company’s development. Highlights include holding more than 20 billion annual meeting minutes (6.9 billion last year), opening offices in Sydney and the United Kingdom, a year-on-year increase of 150%, a 100% increase in customer base, cooperation and optimization of integration of Polycom, Crestron and Cisco, and New features and enhancements are introduced on its platform, including Zoom Rooms Scheduling Display and Zoom for Telehealth. In addition, Zoom is ranked 18th on the Forbes Cloud 100 list and scored 4.8/5 on Gartner Peer Insights.
- In September 2017, Zoom hosted Zoomtopia 2017, Zoom’s first annual user conference. Zoom announced a series of new products and partnerships, including the collaboration between Zoom and Meta, the combination of Zoom and augmented reality, integration with Slack and Workplace through Facebook , and the first step towards artificial intelligence speech-to-text converters.
- In October 2017, Zoom announced that Jonathan Chadwick had joined Zoom’s board of directors as chairman of the audit committee, responsible for overseeing financial reporting and disclosure.
- On November 8, 2017, Zoom announced that Kelly Steckelberg, former CEO of Zoosk and CFO of Cisco’s WebEx division, has joined Zoom as the new Chief Financial Officer (CFO).
- On March 22, 2019, Zoom submitted its IPO prospectus and plans to list on the Nasdaq.
Zoom Video Communications (ZM) investment:
Zoom Video Communications, Inc. (NASDAQ:ZM), a company called Zoom Video Communications, Inc. (NASDAQ:ZM), submitted IPO documents on 3/22/2019, and landed on Nasdaq on 4/18/2019. The planned issue price is US$28-32, and the actual issue price is 36. USD, issued 20.9 million shares, raised USD 752.4 million, underwritten by Morgan Stanley/JP Morgan/Goldman Sachs/Credit Suisse.