9/17/2023 0 Comments Zoom logo history![]() And in January 2017, they raised $100M in Series D funding and Okta announced Zoom as the fastest growing app on their platform. ![]() In November 2016, Zoom announced 215% year-over-year growth in usage and was named a leader in Gartner’s Magic Quadrant for Web Conferencing (according to Raney, the Zuora infrastructure was a “definite factor” in this award). An enterprise multi-entity version of Zuora which is key to their planned international expansion: a strategic priority for Zoom.Īs a result of their awesome product and strategic growth, customers, journalists, and analysts alike all laud Zoom’s services.Support for online account management and a range of online payment methods for self-service customers-both of which are essential to drive customer satisfaction, conversions, and upgrades.Deep insight into customer usage to help identify upsell opportunities and build strategic upsell paths.Pricing and packaging flexibility which allows Zoom to design customized product editions engineered to increase deals and ACV per deal.In short, Zuora is supporting Zoom’s growth by providing: ![]() Since that time, they’ve experienced exponential growth and received numerous industry kudos alongside an additional huge funding round from Sequoia that places Zoom at a $1B valuation. In 2015, Zoom implemented Zuora in just four months. So they went looking for a platform solution to help them mature as a company. And big logos had unique requirements which Zoom’s former billing system couldn’t support. To work with mid-market and enterprise customers, they needed more: more customization, more reporting, different plans, easy discounting. According to Sunil Madan, Head of Business Operations for Zoom, “It was going to get out of control” and was completely unscalable. They had no quoting solution and were relying on inefficient MS Word docs and spreadsheets. To do this, they needed the right foundation.Īs they moved upmarket, their existing billing system was not supporting their customers’ needs. As Zoom grew up, they needed to be more strategic about their growth. Since Zoom is a collaborative platform, it naturally lends itself to viral growth-every time you invite someone new to a meeting, they get to know Zoom (and to know Zoom, is to love Zoom!).īut word-of-mouth growth can only take a company so far. In the beginning, their growth was organic, with technology companies and higher education as early adopters, happily embracing Zoom technology.Īccording to Janelle Raney, Product Marketing for Zoom, “Freemium has always been a big engine,” driving conversions to paid accounts. After Zoom launched their video conferencing software to the public in February 2013, they quickly attracted over 20,000 businesses and 1,400 educational institutions globally. ![]() Cloud-based video conferencing company Zoom was founded in 2011 by former engineers from Cisco and WebEx. ![]()
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