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Zoom video conferencing service raises $100 million from Sequoia on billion-dollar valuation
Zoom, the cloud video conferencing service, announced a $100 million Series D round, entirely funded by Sequoia. The company now boasts a $1 billion valuation, putting it in the vaunted unicorn club.
It also announced a significant update to the product that includes the ability for customers and third parties to build applications on top of the Zoom platform.
The company, which was cash-flow positive last quarter, had previously raised $45.5 million. It actually wasn't even looking for funding, according CEO Eric S. Yuan, when Sequoia came knocking. Sequoia had been looking for a company in the video conferencing space when it heard about Zoom from its portfolio clients.
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