Zoom-based startups? What’s that? have a look! Zoom is a video communications tool launched in 2011. Consequently, it gained huge popularity since the pandemic hit the world in 2020. Since then, Zoom has emerged to be a hot favorite online business tool. And why not? It is completely free of cost and offers up to 40 mins frame with 100 attendees.
With time, Zoom has emerged as a platform. Recently they have declared that they are willing to invest around $100 million in startups that use their technology to build apps. Zoom has created a Zoom Apps Fund, worth $100 million. It aspires to invest up to $2.5 million in startups across this massive video spectrum.
The chief technology officer at zoom – Mr. Brendan Ittelson has been quite reluctant about the details of the news though. As per reports, he says that it’s too early to provide any details as of now. The project is still in the nascent stage and he did not want to put chains on the prospect of the project.
Mr. Brendan Ittelson goes on to say – “At the end of the day, we’re looking at folks that are working with our ecosystem, be that Zoom Apps, integrations, hardware.”
At present, he is focussing on the early-stage investments in various startup companies and ventures that are on the verge of getting traction.
This is not a new venture for Zoom though. They have always been a frontrunner in the investment game. Zoom funds are only an extension of that, to be honest! Zoom has been investing in lots of additional ventures and Zoom-based startups over the years.
To be precise, Zoom as a company aspires to encourage more development in this space. Correspondingly, this will in turn make use of the Zoom technologies and build the platform to be as massive as Zoom imagines the future of itself to be!
Guess what? This kind of self-investment has become pretty normal these days. For instance, Amazon has declared to invest around $200 million in it’s own tech – Alexa. Similarly, Google has been investing hordes in Google-tech related startups and companies.
Everything is in sync with a massive developer ecosystem to emerge in the near future! To know more about such topics, click here!