In June 2011, the company raised $3 million of seed money from WebEx founder Subrah Iyar, former Cisco SVP and General Counsel Dan Scheinman, and venture capitalists Matt Ocko, TSVC, and Bill Tai. The company had trouble finding investors because many people thought the videotelephony market was already saturated. He left Cisco in April 2011 with 40 engineers to start a new company, originally named Saasbee, Inc. Zoom was founded by Eric Yuan, a former corporate vice president for Cisco Webex. Its software products have faced public and media scrutiny related to security and privacy issues, though the company has taken measures to address these issues. The company was founded in 2011 by Eric Yuan, a former Cisco engineer and executive. It provides videotelephony and online chat services through a cloud-based peer-to-peer software platform used for video communications (Meetings), messaging (Chat), voice calls (Phone), conference rooms for video meetings (Rooms), virtual events (Events) and contact centers (Contact Center), and offers an open platform allowing third-party developers to build custom applications on its unified communications platform (Developer Platform). (commonly shortened to Zoom, and stylized as zoom) is a communications technology company headquartered in San Jose, California. Please read this website carefully.Financials as of January 31, 2023. Your legal rights are affected whether you act or do not act. This website explains important legal rights you may have. As part of the Settlement, Zoom also has agreed to make certain changes to its policies and practices that benefit Settlement Class Members, pursuant to Section 3 of the Settlement Agreement. Zoom has agreed to pay $85 million to settle the Action.
Instead, both sides have agreed to a Settlement to resolve the dispute without further litigation risk and expense. The Court has not decided who is right or wrong.
Zoom denies these allegations, denies any liability whatsoever, and believes that no member of the Settlement Class, including the Plaintiffs, has sustained any damages or injuries due to these allegations. The lawsuit alleges that Zoom (i) shared certain information with third parties, (ii) should have done more to prevent unwanted meeting disruptions by third parties, and (iii) advertised its Zoom Meetings App as being encrypted “end-to-end” when Plaintiffs contend it was not at that time. The lawsuit focuses on alleged privacy and security issues with the Zoom Meetings Application (“App”). (“Zoom”) have reached a settlement in a class action lawsuit (the “Action”) entitled In re: Zoom Video Communications, Inc. Plaintiffs and Class Representatives (“Plaintiffs”) and Zoom Video Communications, Inc. If you used the Zoom Meetings application between March 30, 2016, and July 30, 2021, this proposed class-action settlement may affect your rights.
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