Thursday Apr 21, 2011 to Present
California, U.S.Zoom Video Communications, Inc. (Zoom) is an American communications technology company headquartered in San Jose, California. It provides videotelephony and online chat services through a cloud-based peer-to-peer software platform and is used for teleconferencing, telecommuting, distance education, and social relations. Zoom's business strategy focuses on providing an easier to use product than competitors, as well as cost savings, which include minimizing computational costs at the infrastructure level and having a high degree of employee efficiency.
In July 2013, Zoom established partnerships with B2B collaboration software providers, such as Redbooth (then Teambox), and also created a program named Works with Zoom, which established partnerships with Logitech, Vaddio and InFocus.
On February 4, 2015, the company received US$30 million in Series C funding from investors including Emergence Capital, Horizons Ventures (Li Ka-shing), Qualcomm Ventures, Jerry Yang, and Patrick Soon-Shiong. At that time, Zoom had 40 million users, with 65,000 organizations subscribed and a total of 1 billion meeting minutes since it was established.
With version 2.5 in October 2015, Zoom increased the maximum number of participants allowed per conference to 50 and later to 1,000 for business customers.
In May, Zoom announced integration with Polycom's conferencing systems, enabling features such as multiple screen and device meetings, HD and wireless screen sharing, and calendar integration with Microsoft Outlook, Google Calendar, and iCal.
From September 25-27, 2017, Zoom hosted Zoomtopia 2017, its first annual user conference. At this 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.
On April 18, 2019, the company became a public company via an initial public offering. After pricing at US$36 per share, the share price increased over 72% on the first day of trading. The company was valued at US$16 billion by the end of its first day of trading. Prior to the IPO, Dropbox invested $5 million in Zoom.
In March 2020, New York State Attorney General Letitia James launched an inquiry into Zoom's privacy and security practices; the inquiry was closed on May 7, 2020, with Zoom not admitting wrongdoing, but agreeing to take added security measures.
In June 2020, Zoom was criticized for closing multiple accounts of U.S. and Hong-Kong based groups, including that of Zhou Fengsuo and two other human rights activists, who were commemorating the 1989 Tiananmen Square protests. The accounts were later re-opened, with the company stating that in the future it "will have a new process for handling similar situations."
On July 1, 2020, Yuan wrote a blog post detailing efforts taken by the company to address security and privacy concerns, stating that they released 100 new safety features over the 90-day period. Those efforts include end-to-end encryption for all users, turning on meeting passwords by default, giving users the ability to choose which data centers calls are routed from, consulting with security experts, forming a CISO council, an improved bug bounty program, and working with third parties to help test security. Yuan also stated that Zoom would be releasing a transparency report later in 2020.
On July 15, 2020, the company announced Zoom for Home, a line of products for home use, designed for those working from home. The first product, with software by Zoom and hardware by DTEN, is called Zoom for Home - DTEN ME. It consists of a 27-inch screen with three wide-angle cameras and eight microphones, with Zoom software preloaded on the device. It is expected to be available in August 2020.
In July 2020, Zoom announced its first hardware as a service products, bundling its videoconferencing software with third-party hardware by DTEN, Neat, Poly, and Yealink, and running on the ServiceNow platform. It will begin with Zoom Rooms and Zoom Phone offerings, with those services available to US customers, who can acquire hardware from Zoom for a fixed monthly cost.