Zoom was founded by Eric Yuan, a former WebEx worker at Cisco, which was a platform for video conferences.
Customers of the company were unhappy with the service quality. Yuan left Cisco together with about 40 other employees and had a plan for his own startup.
He raised around $250,000 from his friends to pay for the people. His project was called Saasbee. The aim was to stand a challenge for video-conference giants, like Skype or Hangouts.
After one year, Saasbee was renamed Zoom. In contrast to their competitors, Zoom was lightweight, stable, and worked even with poor internet connection.
Zoom went public in 2019, and 2020 saw the outbreak of COVID-19. Many people stayed at home to work remotely. That turned them to video conferencing. During the pandemic Zoom's daily downloads increased 30 times. Zoom said that March 2020 saw their user base skyrocketed to 200 million (from 10 million in December 2019).
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