In April 2011, Yuan Scheinman called to invite him to tea and a demonstration of his new idea.
Scheinman had also left Cisco this month and was aware of Yuan's background in video and collaboration. They had formed a friendship while working at Cisco, where Yuan established itself as a strong and reliable operator in addition to its technical capabilities. For Scheinman to know with certainty that he did not support a closed maniac, he made two reference calls to Yuan, including one on his trip to the rally.
When he arrived at the Coupa Cafe at Palo Alto in Scheinman He says he signed a $ 250,000 check and only needed Yuan to tell him what name to put there, as there was no company yet.
From the close of the market on Thursday, Scheinman's investment has multiplied by more than 700 ̵
"I said," I believe in you and I do not care what's in this presentation, because it's about you "," Scheinman. "said in an interview." He said, "Can I show you the presentation?"
Yuan says other investors have pledged capital, but Scheinman "was the first to transfer the money to the bank by bank transfer." Scheinman also introduced Yuan to cousin Jim Scheinman, founding partner of Maven Ventures.
Jim not only became an investor and advisor, but also helped Yuan with four possible names for the company: Zippo, Hangtime, Poppy and Zoom. In the end, they chose the last one.
In the first two years of Zoom's history, the company was just a small team – mostly WebEx engineers. The first version of the product was released in 2013, and there were still so few outside the engineering group that Yuan was committed to notifying any user who had canceled a subscription.
Yuan said he would try to call her on a zoom to talk about her problems and see how he can fix them. Sometimes, these users stayed around and even turned into evangelists, Yuan said.