The global COVID-19 pandemic has contributed to Zoom seeing exponential growth
The video conferencing service is worth more than one of the largest oil and gas companies, ExxonMobil. At the beginning of 2020, Zoom had a market cap of $19 billion and posted $1.35 billion in earnings over the past year.
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Over the past three months, the founder of Zoom, Eric Yuan, has seen his fortune double. Yuan was born in China and immigrated to the Silicon Valley in 1997. He applied nine times for a visa to the United States before being accepted.
Yuan spoke very little English when arriving in the United States and joined WebEx as one of the first 20 hires. He became the vice president of the engineering department. After the company was sold to Cisco, Yuan suggested a smartphone video conferencing system but was rejected. He left and established Zoom Video Communications.
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