Zoom is a San Jose based publicly traded video conferencing company founded in 2011 by its
visionary founding team, a group of individuals who recognized the burgeoning need for
seamless, high-quality virtual communication. Eric Yuan, a former Cisco executive, spearheaded
this journey, driven by a relentless desire to overcome the limitations of existing video
conferencing tools. Yuan’s experience in the field served as the catalyst for Zoom’s inception, as
he sought to create a platform that prioritized user experience and accessibility. They launched
their software in 2013, first became profitable in 2019, and joined the Nasdaq-100 in April 2020.
With over 300 million active participants daily on their platform, Zoom has emerged as a story
of huge disruptive innovation across the globe. It has gained worldwide adoption from
companies (big and small), to remote learning (elementary through university), to entertainment
(e.g., Tonight Show and Conan Zoombombing Tibco), and to personal gatherings (e.g.,
grandparents calls, virtual happy hours, etc). Zoom is even now a verb (Philadephia Inquirer
4/29/20). Zoom
has gained substantial market share over recent years
and it now has over 50% of market share which is increasing each day.
It has also established a large customer base already as compared to
the other applications and with further improvement through
incremental approach with added features, it is attracting even
more customers, dominating the video conferencing platform.
https://svdisrupt.com/blog/f/zoom-a-story-of-disruptive-innovation
https://bostinnovation.com/zoom-unveiling-the-disruptive-innovation-revolution/
https://studylib.net/doc/26122209/disruptive-innovation-in-videoconferencing-market-case-s…
Zoom’s journey commenced with a focused purpose—to bridge geographical gaps and
enable effortless communication. The initial target audience was far-reaching,
encompassing businesses, educational institutions, and individuals seeking an
innovative solution to connect across distances. In the realm of business, Zoom
presented itself as a game-changer, offering companies a tool to conduct meetings,
collaborate on projects, and facilitate teamwork in real time. This early focus on
versatility and adaptability set the stage for Zoom’s rapid ascendancy.
Gap
In the landscape of innovation, addressing market gaps isn’t just about introducing a
new product; it’s about identifying pain points that have long gone unattended and
crafting solutions that resonate with the very essence of user needs. Before Zoom
emerged, the video conferencing market grappled with a series of challenges that
hindered effective communication and collaboration. These pain points, long
recognized but often overlooked, laid the groundwork for Zoom’s meteoric rise and its
subsequent disruption of the status quo.
https://bostinnovation.com/zoom-unveiling-the-disruptive-innovation-revolution/