One of the 100 richest people in the world managed to raise US $ 17 billion because his company’s shares have soared since the pandemic. Call it Eric Yuan, the founder and CEO of Zoom. Previously, in 2007, Yuan worked on video call software, namely Webex, which Cisco purchased.
As a result of the Covid-19 pandemic which has been going on for almost a year, many people are still working and learning from home. Many of the activities and outreach are done virtually. This aspect of life is inseparable from Zoom.
Zoom’s Revenue Increases Fourfold
Zoom’s revenue has quadrupled, even as its profit has shot up 90 times. All this has no doubt surprised analysts. The company’s shares are getting higher and become one of the top this year. Zoom is on par with vaccine makers like Moderna and Chinese challenger Tesla, Nio, which grossed over 450%.
In fact, Yuan was already a billionaire before the Covid-19 pandemic. This was after he published Zoom in April 2019 and impressed investors with the combination of fast growth and profitability.
Coupa CEO Rob Bernshteyn’s testimonials can serve as an illustration. Coupa has long been a customer of Zoom. Bernshteyn had known Yuan for about four or five years. Coupa, according to Bernshteyn, began allowing employees to use their company zoom account for private meetings.
“This is one of the things he’s said from day one wanting to make sure this platform creates happiness. He’s really created a great platform and foundation to move in that direction for the many people who otherwise wouldn’t be able to connect,” he said, quoting CNBC International, Sunday, (27/12/2020).
