Today San Jose, California-based video-conferencing software Zoom has filed a prospectus for an IPO. For the fiscal year ended January 31, Zoom saw a net income of $7.6 million on $330.5 million in revenue according to a regulatory filing via CNBC. And revenue was up 118% compared to the prior year.
Zoom is going to trade on the Nasdaq under the symbol “ZM.” And the company is planning to raise as much as $100 million through the IPO — which may be subject to change.
The video conferencing system Zoom built is known for being easy to use and works smoothly on mobile devices. Plus it is affordable for smaller teams.
Zoom’s top 10 customers make up less than 10% of its revenue. And the company has thousands of clients including Autodesk, Box, Conde Nast, GoDaddy, Logitech, Okta, Rakuten, Slack, Ticketmaster, Uber, and Williams-Sonoma. And some of Zoom’s rivals include Cisco Webex, Microsoft Skype, Google Hangouts, and LogMeIn.
Launched in 2011, Zoom has over 1,700 employees. Zoom’s largest outside shareholder is Emergence Capital at 12.5% ownership. Sequoia Capital has an 11.4% stake. And Zoom founder and CEO Eric Yuan owns 22%. Yuan previously worked as a VP of Engineering at Cisco and was one of the founding engineers of WebEx.
Zoom’s products include Zoom Phone, Zoom Rooms, and Zoom Meetings. These products combine video, content sharing, voice, and chat. These solutions have support for both inbound and outbound calling. And the company’s apps are native for Windows, macOS, iOS, and Android.
The board of directors at Zoom includes Bart Swanson (Horizons Ventures), Carl Eschenbach (Sequoia Capital), Dan Scheinman (independent board member), Jonathan Chadwick (independent board member), Kim Hammonds (independent board member), Peter Gassner (independent board member), and Santi Subotovsky (partner at Emergence Capital).
