This is What Zoom’s CEO Said After Market Debut

Shares of Zoom soared over 70% on their first day of trading in the market on Thursday.

The company had priced its initial public offering at $36 a share and quickly soared to $65. The stock closed at $62.

Zoom calls itself the “leader in modern enterprise video communications, with an easy, reliable cloud platform for video and audio conferencing, collaboration, chat, and webinars across mobile devices, desktops, telephones, and room systems.”

The company is now valued at over $15 billion. CEO Eric Yuan spoke to Yahoo Finance’s On The Move and remarked, “To be a public company, it can really help our company brand. Ultimately we need to double down on our execution — do what we can to care [for] our customers.”

Yuan said he will maintain a personal touch with his consumer base even as the company grows.

“Every day I make calls to the customers,” he said. “If I do not, I do not feel comfortable.”

“We do not focus on our competitors, and we do all we can to make sure our customers are happy,” he said.
Yuan believes the “market opportunity is huge” in the $40 billion industry. He was previously vice president of engineering at the video-conferencing company WebEx.

“When I started Zoom, I started to connect the dots,” Yuan told GGV Capital. “It’s like wow, I thought about that before but the technology was not ready, but the idea was there.”

Yuan owns a roughly 22 percent stake in the company, according to Zoom’s SEC filings .

Disclaimer: We have no position in Zoom Video Communications Inc. (NASDAQ: ZM) and have not been compensated for this article.