Daily Management Review

Zoom launches $100m investment fund


Zoom has launched a $100 million venture capital fund to invest in startups that leverage the video service's capabilities in their businesses. Zoom wants to build an ecosystem of applications and platforms for developers around its technology. Each selected company will receive between $250,000 and $2.5 million.

Video conferencing service Zoom announced the creation of its venture fund Zoom Apps Fund, which will amount to $100 million, according to the company's press release.

The startups in the fund's portfolio will receive $250,000 to $2.5 million, which is how the company wants to encourage developers that use Zoom technologies to launch businesses and thereby build an ecosystem of services around its video calling platform. Several dozen Zoom apps are now in development, the site says. The investment will go to partners with "viable" products and a small market share that can give users a "valuable and engaging experience". According to Zoom's vision, the new ideas should make people's Zoom-based communication more productive, efficient and fun.

Zoom intends to make investment decisions every month. The company writes that it would prefer to invest on the very first round of A, but is generally not limited to it.

The company announced the Zoom Apps project for video-based apps last year. At the same time, it launched a shop of applications. In March 2021, Zoom released a software development kit (SDK) that made it easier for developers to build Zoom features into their software.

source: reuters.com