Zoom Communications to invest $100 million in startup software companies

Zoom Video Communications is a company headquartered in San Jose,California United States.It provides video calling and online chat services the company was founded by Eric Yuan in the year 2011 but the year 2020 was a major game changing event for this video communication platform.

 

According to the statistics Zoom by the end of the year 2020 Zoom had acquired the net profit of $671 million.Zoom communications provides  intrinsic value to its users through a simple interface.

 

The application can be used to conduct webinars and classes, organize meetings, it even offers an online marketplace for retailers. Zoom breakout rooms allow the host to split a  meeting into fifty different sessions .

 

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It allows the participants to meet in small groups and share ideas.As the schools shifted online Zoom provided teachers with the option of using whiteboard ,marker to enable the makeshift from offline to online teaching easy and interactive.

 

Recently Zoom Communications has launched a $100 million fund to invest in applications that are making use of  zoom’s technology.

 

Big companies like 15 Five,Ablio,Acosta,AgriWebb are  using zoom communications for a variety of purposes. The Arizona State University is also  using the platform for delivering the online lectures of its accredited programs.

 

According to ET times, Zoom applications can be used to display information from corporate systems during the sales meetings ,Zoom wants to encourage the software developers to develop new functions .

 

For example digital whiteboards for efficient online teaching.A smart AI platform in responding to monotonous meeting messages.A digital marker which can ensure that the platform could further be used in delivering the online lectures of Fine Arts(with making paintings along with the teacher approach).

 

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The startups that will introduce features to enhance zoom communications  will thus qualify in the category for receiving funds.

 

In the year 2020 Zoom’s market stood  at $117 million .Its shares peak price was around $568 on October 19,2020.For the year 2022 Zoom is expecting the revenue of $2.6 billion.