Zoom is preparing for post-pandemic virtual and hybrid events with the summer launch of Zoom Events, an all-in-one platform that combines the features of Zoom Meetings, Chat and Video Webinars in one solution. The platform was designed specifically for event organizers to give them a single solution for ticketed events, live events, paid and free experiences, and internal or external audiences, regardless of size. It will work in conjunction with Zoom’s OnZoom platform, which launched last October but is currently in beta. OnZoom will eventually become part of Zoom Events and become a searchable directory.
Benefits of Zoom Events platform
Zoom has created this platform to offer a range of benefits for entrepreneurs, businesses and organizations. Benefits include the following:
- Offer hosts the ability to create an event hub to manage and share events
- Give hosts the option to create multi-session events like conferences where attendees can network in a virtual lobby setting
- Enable the hosts to create customizable ticketing and registration
- Ability to control access and billing from one online dashboard
- Flexibility in hosting different types of events: free or paid, one-time or series
- Ability to assemble attendees for integrated networking
- Tracking event metrics (e.g., attendance, registration, revenue)
- Ability to host private events, or public events listed in the OnZoom directory for discoverability
- Can be used with existing paid Zoom Meetings or Video Webinar licenses
“It’s an exciting time to be at Zoom where the pace of innovation continues to accelerate,” said Oded Gal, chief product officer at Zoom, in a May 19 news release. “We know that people are looking for flexibility in how they attend events in the future. The hybrid model is here to stay, and Zoom Events is a perfect solution for our customers who are looking to produce and host customer, company, and public events with an easy, yet powerful solution. This is another way we’re helping customers scale to meet consumer demands and the evolving virtual and hybrid landscape.”
Those interested in learning more can sign up at Zoom.us to receive updates about the product.
$100 million Zoom Apps fund
The news comes a month after Zoom announced a $100 million investment in the Zoom Apps fund. The fund was set up to encourage development of apps that can be integrated with Zoom.
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“I founded Zoom in 2011, nearly ten years ago. Without the support of early investors, Zoom would not be what it is today,” said Eric S. Yuan, Founder and CEO of Zoom. “What I’ve learned over the past 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, and at the same time help entrepreneurs build new businesses as our platform evolves.”
Companies can receive initial investments between $250,000 and $2.5 million to create apps that support Zoom users and their functionality. Zoom is primarily looking at companies in the seed and Series A funding stages but are willing consider companies at other stages of funding and development.
“We’re looking for companies creating products that are a solid fit for our Zoom ecosystem and provide value to our customers. Companies should have a viable product and early market traction to be considered. We expect to make investment decisions monthly,” Zoom says on its Zoom Apps fund page.
Trying to help individuals and companies bridge the gaps caused by the pandemic, Zoom has experienced an incredible year of growth. For fiscal year 2021 which ended January 31, 2021, Zoom reported total revenue of $2.65 billion, a 326% increase year-over-year. GAAP net income for the fiscal year was $671.5 million, or $2.25 per share, compared to $21.7 million, or $0.09 per share for fiscal year 2020. The company is using its good fortune to reinvest in new products and services to support what is likely to be a hybrid environment post-pandemic. Zoom Events and OnZoom are just two of their latest innovations. We expect to see more innovation and development from Zoom in the coming year.