Zoom has introduced the Zoom Apps Fund. It is a fund of 100 million dollars (83 million euros) to encourage third parties to build Zoom Apps. In this way, the company hopes to build a broad app ecosystem.
Partners who demonstrate viable products and incipient market traction can expect hefty investments from Zoom. These investments range from 250,000 to 2.5 million dollars (from 208,000 to over two million euros), writes ZDNet.
Zoom announced its platform for Zoom Apps, which the company likes to shorten to Zapps, last autumn. Zapps are third-party apps that can be easily added to Zoom. This is in contrast to the Zoom Marketplace, which users can use to integrate Zoom with other applications.
The importance of growing the ecosystem is obvious, given the significant investment Zoom is making in it. The company hopes to bring more functionality to its platform, mainly for businesses. In the long term, Zoom hopes to become a provider of collaboration services more broadly than it does now.
“I founded Zoom in 2011, nearly ten years ago. Without the support of early investors, Zoom would not be what it is today,” said Zoom CEO Eric Yuan. “What I’ve learned over the last year is that we need to keep meetings productive and fun. My hope is that the Zoom Apps Fund will help our customers meet happier and collaborate even more seamlessly.”
In the past year, Zoom has experienced stormy growth. The Covid-19 pandemic forced much of the world to work from home overnight. As a result, video calling applications suddenly gained tremendous popularity, with Zoom leading the way. However, the company was discredited several times when security problems were discovered time and again.
The majority of security problems seemed to have been solved by now, but earlier this month, a few more surfaced anyways. This concerned several security problems found by Dutch ethical hackers. For finding and reporting the zero-days, the security experts received a reward of 200,000 dollars, or 166,000 euros.