Zoom Video Communications Launches $100 Million Fund for App Developers

Zoom Video Communications (NASDAQ: ZM) is encouraging the development of third-party apps for its platform through a new investment vehicle. The company announced Monday it is launching the Zoom Apps Fund, a $100 million venture fund, for this purpose. "We now have dozens of companies working on Zoom Apps integrations, and as we see the first batch of Zoom Apps demos and betas, it's clear to us how powerful this engagement model will be," the company's head of corporate development, Colin Born, wrote in an official blog post.