Zoom Video Communications history
Zoom Video Communications company history timeline
In April 2011, Zoom began its journey.
He left Cisco in April 2011 with 40 engineers to start a new company, originally named Saasbee, Inc.
In May 2012, the company changed its name to Zoom, influenced by Thacher Hurd's children's book Zoom City.
The very first version of Zoom was released on August 22, 2012.
In September 2012, Zoom launched a beta version that could host conferences with up to 15 video participants.
In November 2012, the company signed Stanford University as its first customer.
In January 2013, Zoom 1.0 was released to the world.
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.
In September 2013, Zoom raised $6.5 million as part of its Series B round led by Horizons Ventures.
Zoom experienced strong growth throughout 2013.
In August 2014, Zoom unveiled its Video Webinar platform.
Throughout 2014, many of the industry’s most powerful incumbents soon found themselves on the defensive.
Surprisingly, for a company growing as quickly as Zoom was, the company made very few major updates to the product in 2014.
Similar to the launch of the core Zoom product, the timing of the launch of Zoom Video Webinars was perfect. It was around 2014 when marketers––and content marketers in particular––began to figure out that webinars could be a powerfully effective lead-generation strategy.
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.
In November 2015, former president of RingCentral David Berman was named president of the company, and Peter Gassner, the founder and CEO of Veeva Systems, joined Zoom's board of directors.
One of the most significant updates to the core product to date came in December 2015, with the introduction of Breakout Rooms.
At first, it could only host 15 people, and by 2015 could host one thousand business customers.
In July 2016, Zoom introduced virtual backgrounds to the core product.
By 2016, Gartner (a global research company) had named Zoom a leader in its Magic Quadrant for Web Conferencing.
In 2016, Zoom entered into a three-year partnership with the Warriors.
The company had achieved profitability in Q3 2016.
Thanks to strong customer and revenue growth, Zoom ended 2016 in a very enviable position.
In January 2017, the company raised US$100 million in Series D funding from Sequoia Capital at a US$1 billion valuation, making it a unicorn.
In April 2017, Zoom launched a scalable telehealth product allowing doctors to host remote consultations with patients.
From September 25–27, 2017, Zoom hosted Zoomtopia 2017, its first annual user conference.
Zoom kept the feature updates coming in late 2017, when the company announced several new features in December.
In 2018, the Zoom app marketplace launched, housing various Zoom integrations to enhance the work experience within Zoom.
In late June 2019, Logitech released its Room Solutions for Zoom Rooms hardware line.
However, Zoom’s frantic pace of feature development took a backseat in July 2019, when the company was rocked by news of a zero-day security exploit in Zoom’s OS X code.
After releasing some minor updates to screen-sharing and Breakout Rooms in August, Zoom updated the core product again in September 2019.
In 2019, the business went public and was valued at sixteen billion dollars by the end of the day of its initial public offering.
Zoom announced that, as of Q3 2019, simultaneous real-time translation services would be supported.
“Money is not going to bring me happiness,” Yuan said in 2019. “Millennials grew up realizing that they can get the job done without having to go to the office.
On one day in March 2020, the Zoom app was downloaded 2.13 million times.
So, while you may have been using Zoom for the first time during 2020, you’d probably seen it displayed somewhere.
On May 7, 2020, Zoom announced that it had acquired Keybase, a company specializing in end-to-end encryption.
In June 2020, the company hired its first chief diversity officer, Damien Hooper-Campbell.
On July 15, 2020, the company announced Zoom for Home, a line of products for home use, designed for remote workers.
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.
In October 2020, Zoom announced end-to-end encryption for free and paid plans for meetings with up to 200 participants.
As of November 2020, Zoom stock was selling at around $450 per share.
Digging further into the F1 partnership, Zoom was a sponsor of the Virtual F1 Paddock during 2020—a year when everything went virtual and a large number of meetings went Zoom.
The company’s price doubled in early 2020 despite sharing a now-crowded marketplace with Microsoft Teams and Skype, Slack, Yammer,Go-to-Meetings, Facetime, Google Hangouts, and more.
In May 2021, Zoom Events was launched to create specific Zoom spaces for virtual experiences.
Free cash flow was $454.2 million, compared to $251.7 million in the first quarter of fiscal year 2021.”
Its financial results for the first quarter of the fiscal year 2022 show a first quarter total revenue of $956.2 million, up 191% year over year.
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Zippia gives an in-depth look into the details of Zoom Video Communications, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Zoom Video Communications. The employee data is based on information from people who have self-reported their past or current employments at Zoom Video Communications. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Zoom Video Communications. The data presented on this page does not represent the view of Zoom Video Communications and its employees or that of Zippia.
Zoom Video Communications may also be known as or be related to Zoom Video Communications and Zoom Video Communications, Inc.