the 3 secrets behind zoom’s triple-digit growth
TRANSCRIPT
The 3 Secrets Behind Zoom’s Triple-Digit Growth
As someone who uses Zoom every single day to meet with my teammates, it’s easy for me to see the value.
me
But here’s what doesn’t make sense:
Video conferencing software isn’t new.
And when Zoom officially entered the market back in 2013, it was absolutely crowded.
There were competitors in every direction, including big established players as well as a host of startups.
Flash forward to today, and Zoom has grown its customer base to 700,000+ businesses.
100,000
200,000
300,000
400,000
500,000
600,000
700,000
2013 2014 2015 2016 2017
4,50030,000
170,000
450,000
700,000
Zoom’s Customer
Growth
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sblog.drift.com/how-zoom-grew
Last year, revenue grew 300%, marking their fourth consecutive year of triple-digit growth.
Oh, right, and since raising $100 million in funding back in January, Zoom’s valuation has grown to $1 billion. 🦄
Series A (Jan 2013)
Series B (Sep 2013)
Series C (Feb 2015)
Series D (Jan 2017)
$0 $25,000,000 $50,000,000 $75,000,000 $100,000,000
Total amount raised:
$145.5 million
valuation = $24 million
valuation = $48.5 million
valuation = n/a
valuation = $1 billion
Zoom’s Funding
blog.drift.com/how-zoom-grew
$6 million
$6.5 million
$30 million
$100 million
By all measures, Zoom has become a hypergrowth company, joining the likes of Slack and MailChimp.
But how the heck did they do it?
I’ve uncovered 3 secrets behind Zoom’s growth strategy…
1) Being customer-driven is ingrained in Zoom’s company DNA.
Eric YuanFounder & CEO, Zoom
(founding engineer, WebEx)
From the moment we founded Zoom, our main focus has been to provide a cloud video communications solution that would make customers happy.
“
2) Zoom is building a product that can sell itself.
20,000,000
40,000,000
60,000,000
80,000,000
100,000,000
2013 2014 2015
Zoom’s Meeting
Participant Growth
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3 million
30 million
100 millionblog.drift.com/how-zoom-grew
-Sequoia Capital spokesperson
We had been watching the video conferencing space for many years because we were convinced that it was a huge market primed for innovation. But we couldn’t find a product that customers loved to use. That changed when our portfolio companies started raving to us about Zoom.
“
3) Zoom isn’t afraid to splurge when it comes to building their brand.
Want to learn more about how Zoom grew?
Click here to read our in-depth post.
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