Video conferencing company Zoom has doubled its market value in three months, as fast as offices have emptied
Photo par Mark Lennihan/AP/SIPA
This week, the stock markets are shaking under the tidal wave of sales caused by the coronavirus. Eric Yuan, seated in front of a curtain of swaying palm trees, seems extremely calm.
In Silicon Valley parlance, the founder and CEO of Zoom Video Communications eats “his own dog food,” a phrase meaning that a company uses its own products. The view of the beach behind it is one of the on-demand wallpapers that has contributed to Zoom’s wild success in the video conferencing world.
Eric Yuan is one of the few Chinese-born company founders to become the head of a famous start-up, and whose journey has been somewhat tumultuous. Zoom’s smashing IPO last year turned out to be much more profitable than others, much more well-known, like Lyft or Pinterest, which also went public.
“The view of the beach behind him is one of the on-demand wallpapers that has contributed to Zoom’s wild success in the video conferencing world”
Today, opportunistic investors are chasing companies that could benefit from the global health panic, and Zoom is riding the ridge. Thursday, March 5, its share price rose 6% while Wall Street unscrewed 3%. Its capitalization has reached $ 35 billion, double what it was three months ago.
Eric Yuan is as compelling as any Silicon Valley start-up founder when it comes to highlighting Zoom’s groundbreaking service. For him, modern plagues such as global warming and prices […]