Question: Show me the steps to solve Another key element in Zoom s success is accessibility. When it launched, Zoom had several competitive advantages. For instance,

Show me the steps to solve Another key element in Zooms success is accessibility. When it launched, Zoom had several competitive advantages. For instance, its software identified the users device, eliminating the need for multiple versions of the software. Additionally, it had high security protections in place that kept bugs out. But perhaps most important to the customer, Zoom was able to operate on slow internet connections. From the start, Zoom was easy to use, and this holds true today. Case in point, when someone is invited to a Zoom meeting, they need only to click a link to attend. Even if users choose to register for a basic account, its free to host up to 100 participants with an unlimited number of meetings. Premium features are available on Pro, Business, and Enterprise accounts at competitive rates. This is known as a freemium pricing model. By offering free entry-level access, Zoom has opened up its platform to the masses and lowered barriers to product trial.
Many start-ups struggle to find financing. Initial funding for Zoom came from Webex executives who knew Yuan and believed in his ability to build a quality product. Though Zoom didnt see profits for many years, investors kept investing because of the platforms promising future. When Zoom made its initial public offering (IPO) on the Nasdaq stock market, it was already growing and profitable, a rarity for tech companies. With an IPO price of $36 per share, Zoom was valued at $9.2 billion. Now, the video communications company is valued at close to $100 billion.
Yuans ability to identify a growing market and create a superior product that was easy to use led to Zooms present-day success. The COVID-19 pandemic only accelerated Zooms path to the front of the pack. As people worked from home, students attended school online, and friends gathered for virtual happy hours, Zoom emerged as the go-to service. Looking to the future, Zoom is focusing on new products and winning over large clients. Maintaining its customer orientation and continuing to innovate will better prepare Zoom for future growth opportunities and challenges.

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