ZOOM VIDEO COMMUNICATIONS LAUNCHES US$100 MILLION VENTURE FUND
KUALA LUMPUR, April 20 -- Zoom Video Communications Inc recently announced the creation of a new US$100 million venture fund to stimulate growth of Zoom’s ecosystem of Zoom Apps, integrations, developer platform and hardware. (US$1 = RM4.118)
Via the Zoom Apps Fund, portfolio companies will receive initial investments of between US$250,000 and US$2.5 million to build solutions that will be core to how Zoom customers meet, communicate and collaborate.
Based on a statement, the Zoom Apps Fund will invest in developer partners with viable products and early market traction, providing valuable and engaging experiences to customers.
Zoom Apps, announced at Zoomtopia 2020, are leading applications that will bring productivity and engaging experiences directly into the Zoom platform.
Over the past year, Zoom Founder and Chief Executive Officer, Eric S. Yuan learnt it was imperative meetings needed to be kept as productive and fun.
He hoped this fund would help customers meet happier and collaborate even more seamlessly and simultaneously help entrepreneurs build new businesses.
More details at zoom.com/fund.
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