The video conferencing firm Zoom is aiming to file a public S-1 by the top of March, in accordance with a brand new report in Enterprise Insider that provides the corporate may go public as quickly as April.
Enterprise Insider reported final month that Zoom had filed confidentially with the SEC to go public, simply months after Reuters reported that the San Jose, Ca.-based firm had chosen funding financial institution Morgan Stanley to guide its eventual IPO.
We’ve reached out to the corporate for remark.
Zoom was valued at $1 billion when it raised its final funding in 2017 within the type of a $100 million test from Sequoia Capital. Reuters sources have mentioned they anticipate the corporate to be valued at a number of billion on the IPO.
The corporate, based in 2011, has raised $145 million altogether, together with from Emergence Capital and Horizons Ventures. Its earliest backers embody Qualcomm Ventures, Yahoo founder Jerry Yang, WebEx founder Subrah Iyar, and former Cisco SVP Dan Scheinman, who has been an lively angel investor for years.
We had an opportunity to take a seat down with CEO Eric Yuan final yr at a small trade occasion hosted by the enterprise agency NextWorld Capital. He talked about coming to the US as a pupil from China and making use of for a U.S. visa 9 occasions over the course of two years earlier than lastly receiving it and arriving in Silicon Valley in 1997. We additionally talked about his expertise because the 10th worker of WebEx, and his frustration that the corporate’s code remained stubbornly unchanged after it was offered for $three.2 billion to Cisco in 2007.
He wasn’t alone, clearly. When Yuan struck out on his personal to discovered Zoom, totally 45 workers from WebEx joined him, a call for which they’re doubtless grateful now. Monetary rewards apart, Yuan was ranked on the high of Glassdoor’s annual record of best-rated CEOs final yr.
We’ll be capable of take a deeper dive into the well being of Zoom as soon as its reported S-1 is made public. Within the meantime, you may try our chat right here.