Zoom Makes $100-Million Asset to Put resources into Applications Utilising Its Innovation

The asset will be run from Zoom’s monetary record instead of as an independent funding element.

Zoom said it has established a $ 100 million fund (approximately Rs 7.5 billion) to invest in startup software companies that use its technology to build applications. And competing platforms like Microsoft’s Teams and Cisco’s Webex. Zoom CFO Kelly Steckelberg told Reuters the fund will invest between $ 250,000 (approximately Rs 18 million) and $ 2.5 million (approximately Rs 186,000 million).

Enter the company that established Zoom Apps, and the company can connect the company’s video conferencing software to add new functions to it. Although established companies like Salesforce have a Zoom app, for example, they can display information on the company’s system for discussion at sales meetings, Steckelberg said Microsoft, Zoom hopes to encourage developers to create new features, such as digital whiteboards for outline the idea.

He said the fund will also be open to companies (such as telemedicine application providers or conference room hardware manufacturers) that want to take advantage of Zoom’s cloud-based video system. As an independent venture capital firm, it will not seek to serve on the board of directors of the companies in which it invests. “This really helps to invest in early-stage developers and gain market appeal,” he said in an interview with Reuters. “He is definitely becoming a strategic investor.”

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