Updated: Dec 26, 2022
This week, I would like to introduce one of the most impressive business success stories of Eric S Yuan, the founder and CEO of Zoom Video Communications. By sharing his story, I hope to bring inspiration to people who are planning to start a business or are interested in business studies like myself.
I was particularly interested in his story as Zoom has grown tremendously in popularity since the COVID-19 outbreak in 2019; nowadays, Zoom has become an imperative virtual tool for adults to work and children to continue school studies from home.
His Early life & idea of creating video conferencing software as a student:
Today, Eric Yuan is a Chinese-American businessman, engineer, and billionaire. However, his early life was filled with struggles and hard work.
Yuan was born in 1970 in China, and his parents worked as geology engineers. He later graduated from Shandong University of Science and Technology with a degree in applied mathematics. He mentions in an interview with Bloomberg in 2018 that the idea of creating a video conferencing software naturally came up in his mind because he wanted to find convenient ways of seeing and talking to his girlfriend, who lived 10-hour train rides away from him, during his first year of college. Having kept this idea since then, he eventually founded Zoom in 2012.
His struggles & determination never to give up:
After college, Yuan pursued further study and gained masters in geology engineering at China University. Later, He moved to Beijing and then attended a training program in Japan where he was given an opportunity to hear Bill Gates's speech in 1995. Yuan indicates that Bill Gates's speech inspired him which led him to move to the US after 2 years. Despite Yuan's visa being rejected 9 times, he never gave up on entering the US. He went through many problems even after entering the US; he struggled to communicate in English. Nonetheless, he did not ever stop dreaming of expanding his idea from his first year of university.
In the US, he started working at WebEx by Cisco, a video conferencing start-up. Yuan's performance was remarkable that in 2007, he became the vice president of engineering. Later in 2011, he proposed a video conferencing system that could be used with smartphones, but his proposal was rejected. Because of this, he decided to quit his job and start his own company instead.
In 2012, Yuan founded the communication platform Zoom. He launched the software after a year, and it is noted that it successfully gained 1 million users within 2 months. Zoom saw a significant increase in users after the COVID-19 outbreak as people from around the world needed virtual communication systems for various purposes. Furthermore, the company became more worth than Pinterest and Lyft within 2 years, and in 2020, Yuan was chosen as the Businessperson of the Year by Times Magazine.
What we can learn from Yuan's story:
Eric Yuan is one of the most successful business leaders in the world now. His desire to create a tool that allows people to communicate virtually from different places and his determination to never give up on his dream eventually led him to thrive as a business leader. From his story, we could learn that dedication and hard work in pursuing dreams are the keys to success.
I hope you were able to learn about the CEO of Zoom and acquire some life lessons for becoming successful. Feel free to leave comments!!
Thank you :)