Zoom has launched a $ 100 million investment fund

News

Zoom has launched a $ 100 million investment fund

22.04.2021 News

The video conferencing service Zoom has announced the creation of its venture fund Zoom Apps Fund, its volume will be $ 100 million, this is stated in a press release from the company.

Startups in the fund’s portfolio will receive from $ 250,000 to $ 2.5 million. In this way, the company wants to motivate developers using Zoom technology, start a business and thus build an ecosystem of services around its video calling platform. Dozens of Zoom applications are currently under development, according to the site. The investment will be given to partners with “viable” products and a small market share who will be able to give users a “valuable and engaging experience”. According to Zoom, new ideas should make Zoom-based communication more productive, efficient and fun.

Zoom intends to make investment decisions on a monthly basis. He writes that he will prefer investments in the very first round of A, but in general is not limited to them.

The company announced the Zoom Apps project for video service-based applications last year. At the same time, she launched an app store. In March 2021, Zoom released a software development kit (SDK) that made it easier for developers to embed Zoom features in their applications.

Zoom’s popularity skyrocketed in 2020, when many people had to switch to remote work and meetings with friends over video. As a result, the company’s revenues grew and its shares rose. Forbes estimates the fortune of the company’s founder Eric Yuan at $ 14.3 billion, according to the Forbes Real-Time rating, which is updated in real time.

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