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In April 2011, Yuan called Scheinman to invite her to tea and demonstrate her new idea.
Scheinman also left Cisco this month and was fully aware of Yuan's track record of video and collaboration. They had built friendships while working at Cisco, where Yuan has established himself as a strong and reliable operator, in addition to his engineering skills. But for Scheinman to know with certainty that he was not supporting a lunatic locked up, he made two reference calls to Yuan, including one during his visit to the meeting.
By the time he arrived at Coupa Cafe in Palo Alto, Scheinman said that he had signed a check for $ 250,000 and that he just needed Yuan to tell him how to call him because there was no society yet.
At market close on Thursday, Scheinman's investments were multiplied by 700 to reach just under $ 176.5 million, although he was forced to sell for six months.
"I said:" I believe in you and whatever the content of this presentation, because it's about you, "Scheinman said in an interview. He said, "For our good, can I show you the presentation? "
Yuan said that other investors had committed capital, but Scheinman "was the first to transfer money to the bank". Scheinman also introduced Yuan to his cousin, Jim Scheinman, founding partner of Maven Ventures.
Jim not only became an investor and advisor, but also helped Yuan propose four possible names for the company: Zippo, Hangtime, Poppy and Zoom. They ended up choosing the last one.
During the first two years of Zoom's history, the company was a small team, made up mostly of WebEx engineers. The first version of the product was released in 2013 and there were still so few people outside the engineering group that Yuan was responsible for sending an email to any user canceling a subscription.
Yuan said that he would try to get him called by Zoom to discuss their problems and see how he could solve them. Sometimes these users stayed around and even turned into evangelists, Yuan said.
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