Zoom Video Communications Inc., popularly known as Zoom, offers video and web conferencing, voice, chat, and content-sharing services across various devices. Founded in 2011, the company witnessed explosive growth when COVID-19 caused a worldwide shift towards remote work. As of the first quarter of Fiscal Year 2025, Zoom boasted over 191,000 Enterprise customers, leading to spectacular increments in investor interest, profits, and revenue.
Zoom's leading shareholders include Eric S. Yuan, Santiago Subotovsky, Kelly Steckelberg, along with institutional shareholders like the Vanguard Group, Blackrock, and Fidelity Investments. By August 2024, the company posted a trailing 12-month revenue of $4.56 billion, a net income of $718.55 million, with a market capitalization put at $17.32 billion.
Such figures are the reflection of direct ownership, excluding indirect share holdings or those achievable through stock options. An "insider," refers to senior management, board members, or owners of over 10% of company stock. This does not entail insider trading. As of March 31, 2024, CEO Eric S. Yuan held over 22 million shares of Zoom.
Prior to founding Zoom in 2011, Yuan served in several executive roles at Cisco and was instrumental in the growth of WebEx. The aggregate net worth of Yuan and his family is estimated at $3.8 billion. Santiago Subotovsky, a general partner at Emergence Capital, owned over 6 million Zoom shares. Kelly Steckelberg, Zoom's CFO, had nearly a million shares to her name.
Institutional investors make up 68.95% of Zoom's total shareholders as of August 2024. The Vanguard Group leads as the most prominent institutional shareholder with 23.4 million shares, representing 8.8% of total shares outstanding. Vanguard oversees $8.6 trillion in global assets under management. Vanguard Information Technology ETF holds a significant portion of Zoom in its portfolio.
BlackRock and Fidelity Investments also hold substantial shares in Zoom, managing assets worth trillions. Zoom features significantly in their respected ETFs focus on technology and internet-based companies.
Despite common misconceptions, Zoom is a privately held American company, with the major shareholder being its founder, Eric S. Yuan. Frederick Wang, who is a Chinese-American business professional. Various restrictions may apply for free personal use of Zoom, but its favorable performance during the global pandemic has made it a preferred investment choice for key institutional holders. As of August 2024, Zoom had a market capitalization of $17.32 billion.