New     Submit     Search     Register  

The Zoom IPO (with Santi Subotovsky)

Zoom board member (and general partner at Emergence Capital) Santi Subotovsky joins Aquired to tell the true underdog story behind the hottest IPO of 2019. Together they trace founder Eric Yuan’s incredible journey from immigrant software developer, who didn’t speak any English upon arriving in Silicon Valley in 1997, to Glassdoor’s #1 rated CEO in America in 2018. In an age where border walls have replaced open doors in Washington, and burn rates and privacy scandals have sidelined Silicon Valley’s pretense of making the world a better place, there is no better reminder than Zoom of everything that can be great about our country and our industry.

Updated on June 19
0:00
0:00

Key Smash Notes In This Episode

0

Santi Subotovsky is from Argentina. He founded AXG Tecnonexo, a SaaS e-learning company in Argentina. He has been on the board of Zoom since 2014, when he lead Emergence Investment in the company.

0

He is the founder of Zoom IPO. Inspired by Bill Gates while he was in Japan, later in time, Yuan applied for a work visa nine times until he was accepted to work in the US to enhance technology and change the world. His most important philosophy is about happiness, and how to pursue and sustain it.

0

The work and the cultural changes required can be greater than what people realize. The first audit for public disclosure can delay IPO timing. Second, some public culture policies can be a culture shock to tech companies that are used to being transparent with their employees.

0

You should always find the right partner and group of people, those that believe in you before the business. They will be with you in the good and bad times because the tough times is when you would need a true partner.

0

It went from bring your own device to bring your own app. When bringing your own device, you had full control on what was installed. They knew you had to hook them and deliver value, which rewired the way people thought about business applications.

0

Eric knew from the stats that the most productive business meetings were 45 minutes long, which is why 40 was the magic number. He gave new users just enough time to experience Zoom's full potential, but cut off just a bit, nudging them to convert into paid customers.

0

They don’t recruit publicly known execs, but they seek to invest in rockstars before they are recognized. People who are hungry and have the capacity to learn. They look for those that work and connect with the mission of the company.

0

Yes, it's a great strategy. When selling to SMBs, you end up spending a lot of time focusing on the end user. If you cannot convince an individual to buy your product, then the product isn't good enough.

Eventually once you are ready to move mid-market and above, you will have to learn how to sell to the CIO, and to integrate their opinion into the platforms being used.

0

A great CEO will know when to say no, and that’s probably harder than to say yes. It's better to say no to something if the company is not ready for it.

0

With a lot of capital available, companies tend to focused on spending a lot of money to grow at any cost, rather than doing the right thing. Eventually they will have to care about profitability, and it might not be easy.

0

Markets care about profitability. The key driver to help Zoom deliver results is by making sure the customers are still happy. If the customers are happy, then the employees, investors, and partners will be happy. Also, making sure Zoom is attracting the right people is equally important.

Suggested Episodes