Eric Yuan is the founder and CEO of a leading video chat app company called Zoom Video Communications. Zoom is headquartered in San Jose, California. Eric started this tech firm in 2011, and its exponential success has led him to become one of the richest Chinese-American businessmen in the world. Unlike other Silicon Valley CEOs, he has been late to begin his entrepreneurial journey at age 41. However, he has been able to influence the way how most global enterprises interact today through his innovative cloud-based video conferencing solution. Besides, he already has ten patents in his name, and 20 more are there in the pipeline.
When he went for an IPO in 2019, Zoom emerged as one of the best-performing companies in the tech field, leaving behind Pinterest and Lyft. His app witnessed 200 million daily meetings in May 2020, which zoomed to 300 million the next month, while in December 2019, the usage was only about 10 million. The tremendous increase in the app’s popularity is attributable to the pandemic situation. But it was his leadership that the company could scale up quickly, navigating all the challenges. Today, his product has made its footprint in as many as 20 countries already. Â
Yuan conducts all his meets on Zoom so that he has to travel only twice a year for business purposes. In addition, it allows him to be with his family. In the early phase of the business, he would personally respond to customer emails if they faced any challenges with his platform. Investors admire him for his ability to run a tight ship. As a seasoned business executive, he advises young entrepreneurs to set up the company’s culture from day one.
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Zoom Competitors
Some of the archrivals for the company are:
- Verizon
- Microsoft
- Zoho
- Salesforce
Salary & Net Worth – Investors, Funding, & Valuation
Eric S. Yuan’s net worth can be expected to be around USD 14.7 to USD 17.7 billion in 2021. In addition, he has nearly 22% of the stake in his video conferencing company, whose current valuation is more than USD 100 billion. In 2017, Sequoia Capital had invested USD 100 million when it became a unicorn after its 1 billion dollar valuation. Besides, some other old investors of the company include AME Cloud Ventures, Emergence Capital, and Qualcomm Ventures.
As the company’s Chairman, President, and CEO, in 2021 Yuan earned around USD 9.49 million in total compensation, including salary and pension.
Career & Education – Company, University, & College
After listening to Bill Gates’ speech in 1995 during his four-month training program in Japan, he moved to the US after two years. He started his career at a web conferencing startup called WebEx, becoming a part of its first 20-member team. Cisco Systems acquired it in 2007, and Eric became VP of engineering. In 2011, Yuan proposed launching a mobile phone-based video conferencing system to the management. But after facing rejection, he decided to start his venture, Zoom Video Communications.Â
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The idea struck him when he was in college in China. He had to cover a 10-hour train journey to meet his girlfriend and future wife. Due to the long-distance, he could see her only twice a year. So he wanted a device he could use to see and talk to her at the push of a button. His experience in the teleconferencing business further strengthened his vision.
Yuan attended Shandong University of Science and Technology for a bachelor’s degree in applied mathematics and a minor program in computer application. From China University of Mining and Technology Beijing, he did MA in geology engineering. He also went to Stanford University for an executive course.
Contact Eric Yuan – Email Address | Twitter | LinkedIn
Zoom CEO Eric’s Twitter handle is @ericsyuan. His LinkedIn profile is available at https://www.linkedin.com/in/ericsyuan. You can try to reach out to him at his email id [email protected].
Eric Yuan Wiki – Age, Wife, Family, & More
He was born in 1970 in China’s Tai’an, Shandong Province. When he was in grade 4, he would recycle copper from construction scraps for money. The entrepreneur, aged 51, married his girlfriend Sherry at the age of 22; he was doing a master’s then. The couple lives in Santa Clara, California, with their three children. He has become a naturalized US citizen.Â
Business Insider honored him with the title of one of the ‘Most Powerful People’ in Enterprise Tech, and Glassdoor as the number one CEO of a leading US company in 2018. In addition, the Bloomberg 50 recognized him as a game-changer for global business in 2019. He also won Time 100 Most Influential People award in 2020.