ZOOM VIDEO COMMUNICATIONS, INC.

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Zoom Video Communications : More than a Dozen Companies Part of First Batch of Zoom Apps Fund Investments

08/30/2021 | 04:32pm EDT
More than a Dozen Companies Part of First Batch of Zoom Apps Fund Investments
Zoom

August 30, 20215 min read

In just over four months, the Zoom Apps Fund has completed its first batch of investments in Zoom's developer ecosystem. These efforts are part of a $100 million global venture fund conceived to support Zoom Apps and partners building apps and integrations on the Zoom Developer Platform.

These Zoom Apps Fund portfolio companies are building solutions that will fundamentally improve how our customers connect virtually. Our initial portfolio companies have created apps for a wide range of use cases, including Collaboration & Productivity, Community & Charity, DE&I & PeopleOps, andGaming & Entertainment. Here's more on our goals for this fund and the benefits for the broader Zoom user community.

Innovating with the Zoom Apps Fund

The Zoom Apps Fund is actively investing in our developer ecosystem and looking for developers who want to build solutions that will become core to how Zoom customers meet, communicate, and collaborate.

All Zoom Apps and many applications created on the Zoom Developer Platform live on the Zoom App Marketplace, which serves as the leading source for building, discovering, and distributing apps and integrations using our developer solutions.

'Building out a Venture Investing effort has allowed Zoom to bring an entirely new dimension of support to our developer ecosystem,' said Colin Born, Head of Corporate Development at Zoom. 'Providing support around fundraising allows our app partners to focus more on innovation, which will increase the quality and variety of apps available to Zoom's customers around the world. It is critical we drive the growth of solutions that meet the needs of our customers.'

For more information and to apply for funding, please visit the Zoom Apps Fund page and complete our application.

Zoom Apps Fund portfolio companies

We've invested in more than a dozen apps so far, including:

Collaboration & Productivity
  • Docket - Docket is the meeting productivity platform designed to make meetings better before they start, while they're happening, and long after they're over.
  • Fathom - Fathom is a free app for business professionals that records, transcribes, and highlights the key moments from your Zoom calls so you can focus on the conversation instead of taking notes.
  • Hive - Made in New York, Hive is the world's first community-built project management and collaboration platform helping teams of all sizes move faster and work better together.
  • Polly - Polly is an instant engagement app built for modern work teams. Through fun, real-time, interactive questions, teams that use Polly see a 10x increase in engagement over traditional surveys.
  • Spinach - Spinach is reimagining remote meetings and workflows, enabling distributed teams to be more effective than they were at the office. Spinach's first release helps teams run better daily stand-ups.
  • Warmly - Warmly is the free business card for Zoom. Share more about yourself with auto-generated virtual backgrounds. Plus, see instant information and unique details about everyone else you're meeting with.
  • WorkPatterns - WorkPatterns simplifies people management. Managers use WorkPatterns to collaborate, run 1-on-1 and group meetings, exchange feedback, set goals, and measure progress over time.
Community & Charity
  • Pledge - Pledge empowers people, companies, and nonprofits to seamlessly fundraise via Zoom, livestream, text, e-commerce, and the web to raise funds for 2M+ verified nonprofits globally.
DE&I & PeopleOps
  • BrightHire - BrightHire's interview intelligence platform helps the world's fastest-growing teams capture interviews and make fast, effective, equitable hiring decisions based on substance, not subjectivity.
  • Canvas - Canvas is the No. 1 diversity recruitment platform (DRP). With Canvas' diversity data, analytics, and sourcing tools, companies can hire diverse teams with confidence, and easily set, track, and hit DE&I goals.
Gaming & Entertainment
  • Bright - Bright is a live video conversation platform that offers inspiring and entertaining learning experiences from hundreds of today's most intriguing and talented leaders with more added every week.
  • Quicksave Interactive - Quicksave Interactive develops HTML5 games and game development tools for the new social market.

We are inspired by your innovation, and we thank you for letting Zoom be a part of your story!

About Zoom Apps

Zoom Apps are custom-developed in-product apps for before, during, and after your meetings. Over 50 Zoom Apps were included in the program's official launch back on July 21, and there are many more in development. If you haven't already, be sure to update your Zoom client to start using Zoom Apps now!

About the Zoom Developer Platform

The Zoom Developer Platform equips developers with the tools and resources needed to build applications and integrations on top of our video-first unified communications platform. Developers can request access to a collection of developer solutions, including our Meeting SDK and Video SDK, APIs, and more.

Discover what's possible

Want to discover what's possible with Zoom Apps and experience these apps for yourself? Be sure to update your Zoom client to the most recent version to enjoy all that Zoom Apps has to offer.

If you'd like to learn more about investing in Zoom Apps or applying for funding, please visit the Zoom Apps Fund webpage. Be sure to check out our Developer Platform site to learn more about our developer-first solutions and to sign up for our developer notifications, including updates to Zoom Apps' general availability for all developers.

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Disclaimer

Zoom Video Communications Inc. published this content on 30 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 August 2021 20:31:07 UTC.


© Publicnow 2021
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Financials (USD)
Sales 2023 4 543 M - -
Net income 2023 416 M - -
Net cash 2023 4 162 M - -
P/E ratio 2023 77,8x
Yield 2023 -
Capitalization 32 678 M 32 678 M -
EV / Sales 2023 6,28x
EV / Sales 2024 5,31x
Nbr of Employees 7 155
Free-Float 73,9%
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Mean consensus OUTPERFORM
Number of Analysts 29
Last Close Price 109,52 $
Average target price 126,11 $
Spread / Average Target 15,1%
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Managers and Directors
Eric S. Yuan Chairman & Chief Executive Officer
Greg Tomb President
Kelly S. Steckelberg Chief Financial Officer
Harry D. Moseley Global Chief Information Officer
Brendan Ittelson Head-Global Customer Support
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