Cloud Giants: Meeting Eric Yuan, CEO and Founder of Zoom
On Cloud Giants, a podcast brought to you by Bessemer Venture Partners (BVP), Byron Deeter of BVP interviews entrepreneurs, founders and great leaders who have built world-changing cloud companies.
In this episode, Byron talks to Eric Yuan, founder and CEO of Zoom Video Communications, about the origin story of Zoom, Eric’s background and how Eric is looking at the current situation of the global pandemic.
Listeners will hear about:
- How the idea of Zoom was inspired by Eric’s experience at Webex, a first-generation product sold to Cisco. Eric noted that he was embarrassed to contact Webex customers on the different problems and issues that they were reporting, as Cisco had an aversion to making these changes.
- How Eric’s experience immigrating to Silicon Valley provided a good training in perseverance. He also mentioned inspiration from hearing Bill Gates speak as Internet access was proliferating during the 1990s.
- His advice to founders to hold to their convictions as success will not come overnight. There will always be doubt and voices or reasons against them.
- Eric’s focus on the users of Zoom, the deep sense of loyalty in his community of users from the early days and how much the strategy of the company was geared toward this.
- The growth Zoom experienced during the COVID-19 pandemic in the first four months of 2020, when “daily meeting participants” grew by a factor of 30 to a figure of more than 300 million by April. Of course, Zoom’s share price also appreciated substantially through the year.
Listen to the full recording:
We hope that you enjoy Eric’s deep sense of humility even amidst the incredible success of Zoom in a fairly short time. In the face of mounting competition, it is clear that he continues his plan to keep the user first in his thinking and Zoom’s strategy, and to not try and predict the efforts of the competition.
At WisdomTree, we offer an investment strategy that favors pure-play cloud companies. To find out more about our unique cloud computing investment strategy in collaboration with Bessemer Venture Partners, visit our Cloud Computing Strategy page.
Important Risks Related to this Article
The WisdomTree Cloud Computing Fund (WCLD), through a collaboration with Nasdaq, leverages the expertise of Bessemer Venture Partners (BVP), a leading venture capital investor in cloud-based businesses with more than a decade of investment success in the cloud computing industry. BVP is not affiliated with WisdomTree Asset Management.
There are risks associated with investing, including possible loss of principal. The Fund invests in cloud computing companies, which are heavily dependent on the Internet and utilizing a distributed network of servers over the Internet. Cloud computing companies may have limited product lines, markets, financial resources or personnel and are subject to the risks of changes in business cycles, world economic growth, technological progress and government regulation. These companies typically face intense competition and potentially rapid product obsolescence. Additionally, many cloud computing companies store sensitive consumer information and could be the target of cybersecurity attacks and other types of theft, which could have a negative impact on these companies and the Fund. Securities of cloud computing companies tend to be more volatile than securities of companies that rely less heavily on technology and, specifically, on the Internet. Cloud computing companies can typically engage in significant amounts of spending on research and development, and rapid changes to the field could have a material adverse effect on a company’s operating results. The composition of the Index is heavily dependent on quantitative and qualitative information and data from one or more third parties, and the Index may not perform as intended. Please read the Fund’s prospectus for specific details regarding the Fund’s risk profile.
References to specific securities and their issuers are for illustrative purposes only and are not intended to be, and should not be interpreted as, recommendations to purchase or sell such securities.