Profile: Zoom Video Communications is a communications technology company that provides a video-first communication platform and Web conferencing services. Its cloud platform offers video, voice, content sharing, and chat for mobile devices, desktops, telephones, and room systems.
The company was founded in 2011 and has seen tremendous growth in the last year as the COVID-19 pandemic hasprompted a large-scale shift toward remote work across many industries globally. As of April, 2021, the company has a market capitalization of $94.4 billion.In Zoom, 10 Customers can engage in one-on-one chats or conduct large-scale online events with up to 10,000 view-only attendees. As of January 31, 2021, Zoom had more than 467,000 customers with at least 10 employees, nearly six times the number of customers compared to a year earlier. Shares of Zoom have skyrocketed over the past year. Zoom has quickly become the number one video communications platform for people working or studying from home, and its stock price followed its rising popularity.
History: Originally named as Saasbee, Inc, in May 2012, the company changed its name to Zoom, influenced by Thacher Hurd’s children’s book Zoom City. In September 2012, Zoom launched a beta version that could host conferences with up to 15 video participants and in November 2012, the company signed Stanford University as its first customer. The service was launched in January 2013 and by May 2013 it had 1 million users.
Top Executives: Mr. Eric S. Yuan is the Founder & Chief Executive Officer of Zoom Video Communication.
Founder & CEO, Eric S. Yuan owns 43,284,343 shares of Zoom, representing about 18.5% of all outstanding shares
Bin Yuan, family member of Zoom founder Eric Yuan and Cathy Wang have shared voting and dispositive power over 22,587,156 shares of Class A Common Stock held in trusts for which they serve as co-trustees, representing 9.6% of the shares of Class A of Common Stock.
Santiago Subotovsky owns 212,143 shares of Zoom, or about 0.07% of all outstanding shares (Zoom’s board of directors since 2014).
Sales: Zoom Video Communication’s Total revenue for the fiscal year was $2,651.4 million, up 326% year-over-year. GAAP income from operations for the fiscal year was $659.8 million, compared to GAAP income from operations of $12.7 million for fiscal year 2020. Zoom’s annual gross profit for 2021 was $1.829B, a 260.64% increase from 2020.
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