Zoom's 2019 IPO letter from Eric S. Yuan
- Written by
- Eric S. Yuan
- Organisation
- Zoom Video Communications
- Published
- 22 Mar 2019
- Sector
- Communications software
Read the original at sec.gov (opens in a new tab)
About this letter
Eric S. Yuan, Zoom's founder, president and chief executive, wrote this letter for the registration statement Zoom Video Communications filed with the US Securities and Exchange Commission on 22 March 2019, ahead of its initial public offering. He addresses it directly to readers of the prospectus who are considering an investment, writing a little over seven years after founding the company in 2011.
The letter is brief and personal. Yuan recalls his time as an engineering leader at a major technology company, mentions awards the company won on the strength of its employees' ratings and reviews and illustrates what the platform is used for with examples such as a medical team planning a child's care, a brewery exploring payments to farmers and a state park taking students under Lake Tahoe. He names caring as the company's core value. The prospectus around it reports revenue of $330.5 million for the year to January 2019 and net income of $7.6 million, after a loss the year before.
Why read it
A short founder letter built on one idea, customer and employee happiness, backed by satisfaction data; useful for discussing product-led software growth.
What to notice
- 1
Yuan founded Zoom after hearing, as an engineering leader elsewhere, how unhappy customers were with existing videoconferencing.
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Companies discussed
- Zoom (ZM)
Topics
- ipo
- customer obsession
- culture
- product
L3VLUP does not host this document. It belongs to Zoom Video Communications; the notes above are L3VLUP’s reading of it.