New Delhi: Zoom Video Communications, Inc. (NASDAQ: ZM) today announced the Zoom Apps Fund, a new $100 million venture fund created to stimulate growth of Zoom’s ecosystem of Zoom Apps, integrations, developer platform, and hardware. Portfolio companies will receive initial investments between $250,000 and $2.5 million to build solutions that will become core to how Zoom customers meet, communicate, and collaborate. Zoom Apps, announced at Zoomtopia 2020, are leading applications that will bring productivity and engaging experiences directly into the Zoom platform.
Dozens of Zoom Apps are currently in development and are an important component in building the future of video communications. The Zoom Apps Fund will invest in developer partners with viable products and early market traction that will provide valuable and engaging experiences to our customers.
“I founded Zoom in 2011, nearly ten years ago. Without the support of early investors, Zoom would not be what it is today,” said Eric S. Yuan, CEO and founder of Zoom. “What I’ve learned over the past year is that we need to keep meetings productive and fun. My hope is that the Zoom Apps Fund will help our customers meet happier and collaborate even more seamlessly, and at the same time help entrepreneurs build new businesses as our platform evolves.”