The coronavirus outbreak has seen millions of people ordered to stay in their homes flock to Zoom, which has garnered praise for its features and usability. If you don’t try, you will never know. Zoom founder Eric Yuan before Thursday’s Nasdaq opening bell ceremony in New York. I voiced my opinion and was always told I was wrong. In 4th grade, Yuan collected construction scraps to recycle copper for cash. We and third parties such as our customers, partners, and service providers use cookies and similar technologies ("cookies") to provide and secure our Services, to understand and improve their performance, and to serve relevant ads (including job ads) on and off LinkedIn. I viewed WebEx as my baby and had no control to impact the customer experience. The Inspiring Story of Zoom and Its Founder Eric Yuan. See our, MÜŞTERİ ETKİLEŞİMİNDE YAPAY ZEKÂ DÖNÜŞÜMÜ…, The rise of NeoBanks and Challenger Banks. Why don’t we use Zoom? I continued to apply again and again over the course of two years and finally received my visa on the ninth try.”, “I was absolutely miserable at Cisco. He would routinely code all day long and got himself accepted. The upbeat revenue forecast sent shares of the company. It was a critical milestone for Zoom and it managed to move over it with a huge success. The WFH (Work from Home) community is thankful for your hard work, and we don’t know what we would be without Zoom. He is a high school student, entrepreneur, investor, and author of Generation Optimism. Who would have thought Zoom would be saving the world by allowing us to work from home? I was a corporate Vice President at the Cisco systems. Zoom Video Communications Inc.'s upbeat revenue forecast sent shares of the company surging. I can’t hear you well and please turn the video on, I can’t see you well. You can change your cookie choices and withdraw your consent in your settings at any time. If you’d like to receive future essays via email, subscribe to my newsletter. Do you remember Skype? It’s a mindset that looks like a no-brainer, but it is hard to execute. Zoom Founder Drops $5 Billion as Vaccine Hits Covid Winners By . Well, Zoom is like a Skype 2.0. Benjamin Stupples. In 1990s, Eric Yuan heard Bill Gates speaking about the internet. You have to keep working hard to make your customers happy, and you have to be in control of your own destiny. Zoom’s founder says the company behind the popular videoconferencing app will spend the next 90 days focused on fixing security issues. In an interview with Thrive Global, Yuan said that he wasn’t happy because he met many customers and he realized that they weren’t happy with the video-conferencing services. When Zoom launched, it had several key differences from the crowd. For its founder, that translates into a $2 billion (Dh7.36 billion) wealth bump. From startup to industry leader, hear Zoom's story from the founder himself, and where he plans to innovate next About this Event For the next event in Rice University's Lilie Lecture Series and President's Lecture Series, we will be joined by Eric Yuan, CEO and Founder of Zoom. The Exclusive Inside Story … Now, almost a decade later, they made $330 million dollars in revenue in 2019 and their customers include Fortune 500 companies and 90% of top U.S. This valued the company at $9.2 billion. and . He was previously a manager of WebEx at Cisco, which acquired the video conferencing company in 2007. Saasbee to Zoom. Creating a company or start-up is a process where many people give up or fail, but it does not hurt to try, you might fail (most likely) or you could make it (just like Eric did). Zoom Rooms is the original software-based conference room solution used around the world in board, conference, huddle, and training rooms, as well as executive offices and classrooms. This happened for eight times and he finally got his U.S. visa after 2 years. But Yuan refused to give up. While the world suffered greatly, the one big success story to come out of the year was Zoom. Subscribe my channel #success. In the summer of 1997, Yuan joined Webex, two-year-old start-up then. I am sure many of you did use Zoom before Coronavirus but now even my kids are using Zoom to attend their classes. Newly elected president of the United States, Joe … Zoom founder Eric Yuan poses in front of the Nasdaq building after the company's IPO in April 2019. I read Eric Yuan’s story on Forbes magazine two years ago, and I was impressed by what Eric achieved moving from China to the U.S. Hi Eric, who are you and what do you do? And I came to Cisco a… Yuan and his team quietly worked on their product for nearly two years. Zoom founder Eric Yuan poses in front of the Nasdaq building as the screen shows the logo of the video-conferencing software company Zoom after … This essay was originally published on my website. Zoom is the leader in modern enterprise video communications, with an easy, reliable cloud platform for video and audio conferencing, chat, and webinars across mobile, desktop, and room systems. These three quotes show the three most important angles of Eric Yuan. Photo: AFP. Eric Yuan, the founder and CEO of video conferencing startup Zoom Technologies, Inc., built a $35 billion video conferencing empire in nine years. Many people would have given up after the third try but Eric continued applying until the ninth try! If there’s one company that’s made a huge splash during the coronavirus, it’s Eric Yuan’s Zoom. He moved to Silicon Valley in 1997 and joined a videoconferencing startup called WebEx. Oh, wait! His visa was denied. For the next year and a half, the now-skeptical immigration services would deny him seven more times. Webex went public in July of 2000 and was acquired by Cisco for $3.2 billion in 2007. After he realized only the metal was needed, he attempted to burn away the extra material in a chicken shack behind his neighbor’s house. The number of users that downloaded Zoom ‘zoomed’ as work-from-home took over in the first few months of 2020. Mostly because of their faith in Yuan, the investors, including former Webex CEO Subrah Iyar, gave him $3 million for his startup, which was then called Saasbee. This reminds of his fellow Chinese entrepreneur, Jack Ma. Zoom was founded by Eric Yuan. Eric Yuan was born in Chi n a and graduated from the Shandong University of Science & Technology. I could see myself in him. Listen to your customers — Beta Boom, Outsourcing Your Weaknesses: How to Build Your Business by Admitting Your Flaws, Hey, Reid Hoffman, that (scale-up advice) ain’t right, Meet The Disruptors: Daryl Losaw of IceWind On The Three Things You Need To Shake Up Your Industry, “The first time I applied for a U.S. visa, I was rejected. He would spend hours traveling to visit his girlfriend. I am the founder and CEO of Zoom video communications. He found a problem; he noticed that the current solutions were not the best or didn’t work well, and he attempted to solve it himself by creating Zoom. He decided to move out of China but his journey to success has not been an easy one. If the Zoom founder had not moved to the U.S., Zoom would not have existed as well as many other inventions and ideas that are positively impacting our world. Zoom's IPO wowed Wall Street. READ FULL ARTICLE. A natural-born entrepreneur, Eric made his first foray into business at a young age and nearly burned down his neighbor’s cottage in the process. For its founder, that turns into a $ 2 billion (Dh7.36 billion) funding Zoom founder Eric Yuan was inspired by a talk Bill Gates gave in the 1990s. And I think our service offers the best quality, is of use in the video conferencing service. This Nonprofit Is the MacGyver of Tough Problems in War Zones, What the Bright Future of Remote Work Means For Your Startup, How To Apply Design Thinking To Customer Development, Want your startup to thrive? Zoom: Founder, Company Details Zoom was founded by Eric Yuan, a Chinese-American billionaire businessman. And the last its price, It worked at $9.99 per host per month ($14.99 today), it undercut its rivals. Zoom Founder Hailed As Businessman Of The Year; Joe Biden Is Person Of The Year By Times. https://fortune.com/2020/03/19/zoom-is-the-king-of-social-connection-in-this-crazy-new-world/, https://edition.cnn.com/2020/04/02/tech/zoom-ceo-apology-privacy/index.html, https://investors.zoom.us/static-files/09a01665-5f33-4007-8e90-de02219886aa. As a first-year university student in 1987, he was inspired to develop videotelephony software while he took 10-hour train rides to visit his girlfriend and was looking for an easier way to "visit" her. Needless to say, the firefights had to come put out the blaze. I really could! I chose the most meaningful quotes that highlight his perseverance, hard work, and courage. The inspiring story of Zoom and its founder Eric Yuan. Their sales model combines viral demand generation and free Zoom Meeting plan with a sales approach optimized for the size of each customer opportunity. Zoom founder Eric Yuan. This is the story of Zoom’s founder. After Cisco acquired WebEx, Eric felt that he couldn’t make an impact and create something meaningful. "The purpose of life is to pursue happiness," says Zoom founder and CEO Eric Yuan. Second, Zoom could operate even at 40% data loss, so it would still work on a spotty or slow internet connection. Who came up with this genius idea? How Zoom came up was, in fact, very romantic. How much better big companies could be if they avoid bureaucracy. In the fourth grade, Eric collected construction scraps to exchange the copper for cash. Early life. This is the story of Zoom’s founder. That’s when he got the idea to develop a platform that would make customers happy. Yuan was in China, his home country, and in his 20s then. Zoom shares rocketed 72% on the first day of trading. Hi, everyone. He spent two decades working as a software engineer in Silicon Valley before he launched his own start-up. We are building the number one best video conferencing service worldwide. The Chinese businessman who became a billionaire thanks to the pandemic. Eric Yuan is the founder of Zoom, a video communications tool that went public in April 2019. Not long after, Cisco tapped Yuan to lead Webex's engineering group. Yuan studied applied mathematics and computer science and then, at age 22, got married while pursuing his Master’s degree. Zoom Rooms is the original software-based conference room solution used around the world in board, conference, huddle, and training rooms, as well as executive offices and classrooms. Zoom Is Now Worth More Than ExxonMobil—And Founder Eric Yuan’s Net Worth Has Nearly Doubled In Three Months (Forbes) Zoom, Zoom, Zoom! Zoom Video Communications Inc. Zoom boss Eric Yuan, whose business exploded during the pandemic, says working from home is here to stay. The video conferencing company expects sales to … And prior to founding Zoom, I worked for Cisco. In a blog post Thursday, Zoom founder Eric S. Yuan said the technology firm is enacting a “feature freeze,” in which employees will turn their attention from enhancing usability toward tightening data protection. Good times. You must be wondering how Eric Yuan come to earn such huge money when the world’s economy is totally unstable due to the world pandemic, COVID-19. After he quit at Cisco, over 40 fellow engineers followed Eric in his new venture and a year later they launched the Zoom platform in 2012. This flock comes with a price. Many people think they need to create the next Facebook or the next Amazon to become a billion-dollar company. Yuan is the son of geology engineers. Like me, he was an immigrant and was a crazy entrepreneur who wanted to help the world and was willing to take risks. But by 2010, Yuan became unhappy. Universities (perhaps even more now). Martin:Hi, Today we are in San Jose in the Zoom office. He was born and raised in Tai'an, Shandong Province, China. Now, I can hear and see you well. (Bloomberg) -- Zoom Video Communications Inc.’s upbeat revenue forecast sent shares of the company surging. I wonder how it becomes so popular even there are many other tools in the market and here comes my findings. He is also the CEO of the company and owns 22% of Zoom Video Communications. Published on April 4, 2020 April 4, 2020 • 31 Likes • 0 Comments Already convinced he’d start a company someday, and fascinated by entrepreneurs like Bill Gates, he set his sights on the U.S. tech boom. In the past three months, Eric’s net worth increased by 112% to $7.57 billion through the video conferencing startup Don’t be afraid to start — just go for it!”. Some even argue that is a ripoff of other video conferencing platforms. 3 Interesting facts from the story of Eric Yuan, founder of Zoom. Thanks, Zoom, and Thanks, Eric Yuan! With Microsoft owning Skype, Google in the market via Hangouts and Cisco still leading in market share, video conferencing had entrenched incumbents; there were also multiple startups. Zoom Video Communications, Inc. (or simply 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.. Eric Yuan, a former Cisco engineer and executive, founded Zoom … Eric Yuan’s Zoom is another incredible example of the companies and ideas created by immigrants such as Elon Musk (Tesla, SpaceX, PayPal), Patrick Collison (Stripe), Peter Thiel (PayPal, Palantir Technologies), Sergey Brin (Google), among many others. Zoom went to public last April and raised $356.8 million after selling 9.91 million shares in the IPO. A little-known app that literally became a household name. Another week without Donald Trump’s tweets and Facebook posts. This start-up was later acquired by Cisco, and he became Cisco’s corporate VP of engineering. Story. Zoom founder drops USD 5 billion as vaccine hits Covid-19 winners Zoom Video Communications Inc. has hosted school lessons, family gatherings … Zoom isn’t that innovative. After raising another $6.5 million from Li Ka-shing’s Horizons Ventures, Zoom raised a $30 million round from Emergence Capital in 2015. This website uses cookies to improve service and provide tailored ads. Zoom founder and CEO Eric Yuan responds to concerns about the privacy and security of its video conferencing app after federal officials are now warning of "Zoombombing." Eric: First of all, thank you for visiting us. The video-conferencing software company ended it first day … After a year of pestering his bosses to let him rebuild Webex, Yuan gave up and decided to leave Cisco in 2011. These daydreams would later become the foundation for Zoom. Why should I even go to the office?”, “Although the start-up journey is long and tough, it’s also fun and exciting. Behind the $16 billion market cap bonanza: new billionaire Eric Yuan, the immigrant founder whose video conference app just works better. By the time Sequoia backed Zoom in a $115 million Series D round in early 2017, valuing the company at $1 billion, the famed venture firm had been fighting to get a piece of it for more than two years. Eric Yuan was born in China and graduated from the Shandong University of Science & Technology. At the time Yuan started his company, there is a tough competition in the video conferencing business. By using this site, you agree to this use. A month ago his company was merely a fast-growing success story in the somewhat boring universe of enterprise communications. The pandemic-induced lockdowns resulted in a 70 times increase in the user base for Zoom in the four months to April 2020, the video conference app's founder … CORRECTION: An earlier version of this story misstated the year for Zoom… I am Eric Yuan. Saasbee to Zoom. Yuan asked friends to write him $250,000 checks so he could pay 30 engineers (some in China) to work on a new idea: create better technology for video communications, then figure out what app to build on top. I can’t hear you? Eric Yuan’s entrepreneurial spirit is one that we can all admire. Select Accept cookies to consent to this use or Manage preferences to make your cookie choices. Today, Zoom has 2.532 full time employee and 81.900 paid business customers with more 10 employees. He would talk to customers, and they weren’t satisfied with the current collaboration solution. Zoom is the leader in modern enterprise video communications, with an easy, reliable cloud platform for video and audio conferencing, chat, and webinars across mobile, desktop, and room systems. Zoom is to pause the development of any new features to concentrate on safety and privacy issues, in the wake of criticism from users of the app. But when he had set out for the US to turn his dreams into a reality, little did he know that the road ahead was not going to be as easy as he had envisaged. Who would have thought most of us would be using Zoom (almost every day now)? First, its lightweight web client could figure out almost instantly what kind of device you were using, meaning Zoom didn’t need different versions for Mac or PC. Can you hear me? You know what, Let’s use Zoom. For more information, see our Cookie Policy. This quote shows exactly how Eric sees the world and how entrepreneurial he is. Devon Pendleton. At least we have clips of his “perfect” speeches replayed in the Senate trial. He hated those rides and brainstormed ways he could visit his girlfriend without moving a single foot. As a young employee, Yuan did what he knew best. Yuan said Zoom crossed 200 million daily meeting participants in the month of March. Juan David Campolargo is an unwavering optimist and go-getter. Last week, the huge uptake of Zoom has created the new phenomenon of 'zoombombing' which sees uninvited guests join video conferences, usually to shout abuse, share pornography or make racist remarks. In 2011, he quit and decided to make the daydreams of visiting his girlfriend without moving a reality. In other words, they think they need to be super innovative to create something valuable and useful. I love this quote. Zoom boss apologizes for security issues and promises fixes. Jack is also well-known for his impressive perseverance and work ethic.
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