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Zoom Scoops Customers From Cisco In $16 Billion Video Conferencing Market

October 4, 2017 | Telepresence Options

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Story and images by Forbes

What happens when a top executive at a startup goes to work for the big company that acquired it? Usually, the executive stays long enough to get their cash and then bolts. Sometimes, that executive stays for years and ultimately gets so disgusted with how the new owner is ruining their startup, that they leave and start a new company aimed at all those flaws.

This comes to mind in considering the career of Eric Yuan. As he explained in a September 21 interview, he left Beijing in 1997 to be the founding engineering of WebEx. Cisco Systems bought the video conferencing company in 2007 for for $3.2 billion and Yuan stuck around Cisco as a VP in its Collaborative Systems group.

In 2011, Yuan left to start video conferencing service Zoom which is now growing faster than the enterprise video conferencing industry which is estimated at $16 billion this year and expected to grow at a 20% annual rate to about $41 billion by 2022, according to Markets and Markets. FORBES reported that Zoom grew 300% in 2016 after raising $100 million in January 2017 at a $1 billion valuation.

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