Zoom’s principal private shareholders comprise Eric S. Yuan, a Chinese-American billionaire businessman who founded Zoom. Dan Scheinman has been a board member and angel investor in Zoom since the start, and Santiago Subotovsky was also an early investor in Zoom. Zoom follows a “freeterprise businessmodel” where free accounts are channeled into enterprise customers.
Zoom is a video platform, which enabled remote working. As such it competes with other large tech players like Google and Microsoft for the productivity space, and other startups like Slack and Go-To-Meetings.
Zoom is a video communicationplatform whose mission is to “make video communications frictionless.” Leveraging on the viral growth from its freemiummodel, Zoom then uses its direct sales force to identify opportunities and channel those as B2B and enterprise accounts, thus enabling Zoom to monetize the brands’ growth generated by its freemium; in 2023 Zoom generated $4.39 billion in revenue and $103 million in net profits.
Zoom generated $4.39 billion in revenues for 2023, compared to over $4 billion in revenue in 2022, over $2.6 billion in revenue in 2021, and over $622 million in 2020.
In 2023, Zoom generated over $103 million in net profits compared to over $1.37 billion in profits, and over $672 million in profits in 2021. Zoom has been profitable since 2019.
A freeterprise is a combination of free and enterprise where free professional accounts are driven into the funnel through the free product. As the opportunity is identified the company assigns the free account to a salesperson within the organization (inside sales or fields sales) to convert that into a B2B/enterprise account.
Gennaro is the creator of FourWeekMBA, which reached about four million business people, comprising C-level executives, investors, analysts, product managers, and aspiring digital entrepreneurs in 2022 alone | He is also Director of Sales for a high-tech scaleup in the AI Industry | In 2012, Gennaro earned an International MBA with emphasis on Corporate Finance and Business Strategy.