Zoom Launches $100 Mn Fund for App Developers Working on Platform
by EVENTFAQS Bureau Industry Watch | April 22, 2021 | News
American communications technology company Zoom Video Communications has launched a $100 million Zoom Apps Fund to invest in apps that are using its technology. The company is looking to make an initial investment of $250,000 to $2.5 million in each portfolio company.
"We’re excited to announce the launch of our $100 million Zoom Apps Fund, which will invest in portfolio companies looking to revolutionize the way Zoom customers meet, collaborate, and communicate on our rapidly expanding platform," said Colin Born, Head of Corporate Development, Zoom.
“The ecosystem of Zoom apps, integrations, video and client SDKs, and hardware play a role in creating frictionless, engaging, collaborative, and even fun Zoom experiences. We’re committed to fostering growth across our ecosystem and supporting our developer community to bring the best and most innovative ideas to life for our customers. As we see the first batch of Zoom apps demos and betas, it’s clear to us how powerful this engagement model will be. It has also become clear that there is a massive opportunity right now for innovation with the potential to reach and impact millions of customers in a brand new way. That’s the inspiration behind the Zoom Apps Fund," Born added.
The company is looking to make an initial investment of $250,000 to $2.5 million in each portfolio company.