Eric Yuan’s Journey to Building Zoom |
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Early Life and Inspiration |
Eric Yuan was born in China in 1970 with entrepreneurial instincts. He became fascinated with technology after reading about Silicon Valley and companies like Microsoft and Apple. |
Education and Early Career |
Eric attended college in 1987, where he dreamed of a device to see and interact with his long-distance girlfriend remotely. He later attended a conference where Bill Gates spoke about the internet’s potential for video calling. |
Moving to America and Joining WebEx |
Eric moved to Silicon Valley in 1997 to join WebEx as one of their first 10 engineers. He worked tirelessly, rising through the ranks, but eventually became frustrated with the company’s lack of innovation and poor customer service. |
Founding Zoom |
Eric quit his six-figure job to start Zoom in 2011, despite initial rejections from venture capitalists. He envisioned a simple, stable, and user-friendly platform that prioritized customer happiness. |
Launch and Growth |
Zoom launched in 2012, attracting 50,000 new users on its first day. Eric handled all aspects of the company, gathering feedback from customers to improve the service. By 2019, Zoom had a valuation of $25 million and revenue of over $300 million. |
IPO and Challenges |
Zoom’s initial public offering in 2019 led to a 72% price surge, valuing the company at $15.9 billion. However, the company faced significant challenges, including security vulnerabilities and “Zoom bombing” incidents. |
Covid-19 Pandemic and Rapid Growth |
Zoom’s popularity soared in 2020 due to the pandemic, becoming the preferred choice for both business and casual users. The company’s revenue increased from $330 million in 2019 to over $4 billion in 2022. |
Current Challenges and Future Plans |
Zoom is now experiencing a decline in users and customers, partly due to competition from Google Meet. Eric has taken a 98% pay cut to maintain morale and aims to expand into new areas, including AI language translation. |
| Term | Definition | Example Usage |
|---|---|---|
| Entrepreneurial | Having the skills and mindset to start and run a business, often taking calculated risks. | Eric Yuan’s entrepreneurial instincts led him to start Zoom despite initial rejections from venture capitalists. |
| Valuation | The process of determining the economic value of a company or asset. | By 2019, Zoom had a valuation of $25 million and revenue of over $300 million. |
| Initial Public Offering (IPO) | The first public sale of a company’s stock, allowing it to raise capital from the public. | Zoom’s initial public offering in 2019 led to a 72% price surge, valuing the company at $15.9 billion. |
| Security Vulnerability | A weakness or flaw in a system or software that can be exploited by attackers. | Zoom faced significant challenges, including security vulnerabilities and “Zoom bombing” incidents. |
| Market Competition | The rivalry between companies in the same market or industry. | Zoom is now experiencing a decline in users and customers, partly due to market competition from Google Meet. |
| Artificial Intelligence (AI) | The development of computer systems that can perform tasks that typically require human intelligence. | Eric aims to expand into new areas, including AI language translation. |
| Customer Service | The support and assistance provided to customers by a company. | Eric became frustrated with WebEx’s poor customer service and prioritized customer happiness when founding Zoom. |
| Revenue Growth | The increase in a company’s revenue over a specific period. | Zoom’s revenue increased from $330 million in 2019 to over $4 billion in 2022. |
| Pay Cut | A reduction in an employee’s salary, often taken by executives to demonstrate solidarity with the company. | Eric has taken a 98% pay cut to maintain morale. |
| Market Decline | A decrease in the value or demand for a company’s products or services. | Zoom is now experiencing a decline in users and customers, partly due to market competition. |
Vocabulary Quiz: Eric Yuan’s Journey to Building Zoom |
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Question 1: Entrepreneurial |
What does the word “entrepreneurial” mean? |
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Relating to working for a large company Having the skills and mindset to start and run a business Focusing on a specific area of expertise Working in a team environment |
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Question 2: Valuation |
What does the word “valuation” mean in a business context? |
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The total number of employees a company has The total revenue a company earns in a year An estimate of a company’s worth or value The cost of starting a new business |
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Question 3: Visionary |
What does the word “visionary” mean? |
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Someone who is very detail-oriented A person who has a clear idea of what they want to achieve Someone who is good at working in a team A person who is very organized |
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Question 4: Vulnerabilities |
What does the word “vulnerabilities” mean in a business context? |
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Weak points in a company’s security system Areas where a company excels Opportunities for growth and expansion Threats to a company’s financial stability |
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Question 5: Morale |
What does the word “morale” mean in a business context? |
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A company’s financial performance The overall attitude and confidence of a company’s employees A company’s market share A company’s customer satisfaction ratings |
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Answer Key |
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Question 1 |
b) Having the skills and mindset to start and run a business |
Question 2 |
c) An estimate of a company’s worth or value |
Question 3 |
b) A person who has a clear idea of what they want to achieve |
Question 4 |
a) Weak points in a company’s security system |
Question 5 |
b) The overall attitude and confidence of a company’s employees |
Using the Past Perfect Simple and Past Perfect Continuous Tenses
| The past perfect simple and past perfect continuous tenses are used to describe actions that happened before another action in the past. They are often used to show cause and effect or to describe a past action that was in progress when another action occurred. The past perfect simple is used to describe completed actions, while the past perfect continuous is used to describe ongoing actions. |
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Quiz: Past Perfect Simple and Past Perfect Continuous Tenses
1. Before he founded Zoom, Eric Yuan _______________________ (work) at WebEx for several years.
A) had worked
B) was working
C) has worked
D) worked
2. By the time Eric attended college, he _______________________ (read) about Silicon Valley and companies like Microsoft and Apple.
A) had read
B) was reading
C) has read
D) read
3. Eric’s vision for Zoom was to create a platform that _______________________ (prioritize) customer happiness.
A) had prioritized
B) was prioritizing
C) has prioritized
D) prioritized
4. By 2019, Zoom _______________________ (launch) seven years earlier and had gained a valuation of $25 million.
A) had launched
B) was launching
C) has launched
D) launched
5. Before the Covid-19 pandemic, Zoom _______________________ (face) significant challenges, including security vulnerabilities and “Zoom bombing” incidents.
A) had faced
B) was facing
C) has faced
D) faced
Answer Key
1. A) had worked
2. A) had read
3. B) was prioritizing
4. A) had launched
5. A) had faced
