Zoom announced a $100M fund to support the most promising startups that are using the company’s technology in their products.
10 years ago, we were a startup. We wouldn’t be where we are now without the support of our early investors. We're excited to announce the Zoom Apps Fund, a $100m global venture fund to stimulate the growth of our ecosystem. https://t.co/d1ZAzRrKFI pic.twitter.com/IG3HJCE14p— Zoom (@Zoom) April 19, 2021
Last year, Zoom launched its marketplace, revealing its ambition to provide more than just a video conferencing solution. It plans to be a platform that developers could use to build applications on top of Zoom.
The company plans to invest between $250,000 and $2.5 million in Zoom apps that are looking to revolutionize the way its customers meet, collaborate, and communicate.
Zoom CTO Brendan Ittelson said
“A big part of this is helping facilitate those early companies and giving them the access to resources and connections within Zoom, so that they can grow and succeed,”
Apart from Zoom, other tech companies also have their own funds that support startups in their ecosystems such as the Slack Fund and Salesforce’s Impact Fund.
What are your thoughts on fund allocations by tech companies to support their partners?