Zoom's CEO emigrated from China 22 years ago and spoke little English — now he's worth almost $3 billion
Not even Eric Yuan's closest friends, oldest advisers and earliest investors thought Zoom needed to exist. It was 2011, and the market was littered with videoconferencing systems from Google, Skype, GoToMeeting and Cisco, where Yuan had been leading WebEx's engineering team.
Yuan, who owns 20% of the shares, is tech's newest billionaire, with a stake worth about $2.9 billion. "For the first several years, I was just writing code and I was extremely busy," Yuan said in an interview from New York on Thursday at the Nasdaq, where he was celebrating with about 80 employees, customers and investors. Yuan said he opted not to spend the time going through formal English training and,"I just learned it from my teammates."
"I said, 'I believe in you and I don't care what's in that presentation, because this is about you,'" Scheinman said, in an interview."He said, 'For both of our sakes, can I show you the presentation?'" Yuan said he would try and get them on a Zoom call to talk through their problems and see how he could fix them. Sometimes those users would stick around and even turn into evangelists, Yuan said.
Oded Gal, who worked for Yuan at Cisco and left in 2011, says that Zoom not only had to go up against massive incumbents but also faced competition from a new crop of start-ups aiming to modernize the videoconferencing experience. Bay Area tech companies are full of fluffy catch phrases that define their mission and rally employees. Zoom appears to fit right in with a motto of"delivering happiness," which also happens to be the title of a 2013 book written by Zappos CEO Tony Hsieh.
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