![]() ![]() ![]() Too many features can prevent users from upgrading to a premium version. However, free users may never convert to paid users if the product is not up to the mark. Manier times, even if the user doesn’t upgrade or purchase premium services, the company can still make money by collecting their user information and data, and showing them targeted ads. This model is extremely popular among software applications as it has the advantage of acquiring a large set of initial users, especially when there’s no cost associated with trying out an app or a service, as most people are willing to take a new app or service for a spin, giving the company an easy way to acquire potential users and study their usage behavior. It also improved its product-enabling features like multiple screens and device meetings, HD and wireless screen sharing, and calendar integration with Microsoft Outlook, Google Calendar, and iCal. In January 2017, it achieved unicorn status after a series D funding from Sequoia Capital. Finally, the service was launched in January 2013, and by the end of the first month, Zoom had 40,000 users, which went up to 1 million by May 2013.įrom hereon, the company went on to form various B2B collaborations, gaining more market share. Stanford University was the first customer they signed in November 2012. ![]() By September 2012, they launched a beta version of the app, hosting up to 15 video participants. Influenced by Thacher Hurd’s children’s book Zoom City, the company changed its name to Zoom in May 2012. They raised their first seed money of $3 million from WebEx software founder Subrah Iyer and venture capitalists Matt Ocko, TSVC, and Bill Tai. Since the video communication market was already saturated, they had trouble finding investors. Along with 40 engineers, he left Cisco to start a new company called Saasbee Inc. Zoom was founded in 2011 by a former Cisco Vice President, Eric Yuan. ![]()
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