Recently the video conferencing platform Zoom’s net worth was valued at $31.73 Billion. Since then, zoom and its CEO Eric yuan has been subjected to severe scrutiny regarding its privacy and security issues in its platform.
Eric S. Yuan, Zoom’s CEO apologized for the same stating that the platform has seen a sudden increase in users up to 1900% than it was in December 2019 which Zoom was unable to handle.
In light of these situations, we tried our best to know more about Zoom and its CEO Eric Yuan.
The Attention :
People started using Zoom because it’s free and has an easy to use intuitive interface. Even the early 80’s generation has no problem using this service, I know because my grandparents too use Zoom to check up on their favorite grandson [me].
In his own words, Eric yuan when asked how he had the idea to start this company said, “People simply do not feel happy when using products like Skype, Webex, etc and I asked why they told me all these kinds of reasons and I realized if customers are not happy about the solution then you have the opportunity to do something to make them enjoy using the product”.
The woman behind every Success :
An interesting fact is when in China, Eric Yuan and his girlfriend were enrolled in different colleges, so he used to travel 10 hours twice a year to see her, he always dreamt that in the future there would be a way to see her in a click of a button.
Eric Yuan started his career in Webex in 1997 which was later acquired by Cisco in 2007. In 2011, when he pitched a video conferencing platform at Cisco his idea was rejected because the market was considered saturated.
These experiences made him find a solution to his existing problem.
So he left Cisco to start his own company. For the first two years, his company worked head down on the product side to make a great product.
Since 2011 is the year when the mobile market started booming, other products available at the time were not actually ready for the emerging smartphone market so Zoom had a headstart in the right direction.
One example is that they’ve written assembly-level codes for the IOS app development, which makes it work smoother and cleaner in the mobile platforms.
Eric was working 18 hours a day for several years before the product launched a beta version in September 2012. By the end of the first month, it achieved a 4,00,000 user base.
The rise and scrutiny
The company had an astounding growth from there raising around US $143 million in a series of fundings by January 2017 placing the company at a US$1 billion valuation, making it a so-called unicorn.
According to the firm, the average daily users were 10 million in December, by march users have increased to 200 million, this considerably increased the share price of the company making billions.
This sudden increase in their customer base also increased scrutiny.
Researchers within the week published details of a replacement vulnerability in the Zoom Windows client which might be exploited to steal user passwords and two flaws within the macOS app that might be abused to remotely install malware or pay attention to users.
Zoombombing is when an uninvited user enters a meeting for cheap laughs at the expense of others. It is not a security flaw, but the carelessness of the participants sharing the Meeting links on the internet.
Recently this has taken a new form, using deepfakes to impersonate famous personalities in zoo bombing.
While this may be a harmless prank, this can easily damage the lives of unaware users. On April 05, 2020, Zoom has released some updates but it has to be done manually.
In his Interviews, Eric S. Yuan often states that he wants to bring happiness to the world and we know it’s not just a gimmick.
The proofs are out there like his hiring policy which screens people for their value of bringing happiness and even their virtual backgrounds in their platform tell the same story, these small things express his attention in preserving their core values.
So it’s safe to say that, not only the product but the people who make them are just as important.