Zoom, announces $100 million fund to invest in start-up software companies that use its technology to develop applications. During the pandemic, companies and schools turned to the Zoom platform. The video conferencing company has become a household name and has huge competitors like Microsoft and Cisco.
Zoom’s Chief Financial Officer, Kelly Steckelberg, said-
The company will invest between $250,000 and $2.5 million in special connections. These funds will go to companies that developers “Zoom applications” that can connect to the company’s video conferencing software. The main reason for these applications will be to add new features to Zoom and in form on Zoom’s website with their information to get Live Transcription. However, we expect that the wider free rollout of this feature will arrive soon.
Source: Economic Times