This ex-Cisco exec’s startup kicked off 2017 by getting a $1 billion valuation that’s putting it in the spotlight
The new year has already been good to videoconferencing startup #Zoom, a fast-growing competitor to #Cisco ‘s ubiquitous #WebEx. Just last week, the San Jose-based company raised $100 million at a $1 billion valuation in a round led by legendary investment firm Sequoia Capital, making it Silicon Valley’s newest “unicorn.” At the same time, Zoom disclosed it had 450,000 customers, including Uber and SolarCity, and that it finished 2016 with two cash flow positive quarters, back to back. Days later, a report from fellow enterprise unicorn Okta indicated that in 2016, Zoom was the fastest-growing app among its subscribers — a distinction previously held by $3.8 Silicon Valley golden child Slack. In other words, if you haven’t heard of Zoom yet, you probably will soon. Business Insider sat down with Zoom CEO Eric S. Yuan (via a Zoom videoconference, naturally) to talk about where his startup came from, and where it’s going next.