Zoom launches $100 million fund to invest in apps using its technology

FILE PHOTO: Small toy figures are seen in front of Zoom logo in this illustration picture taken March 15, 2021. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) - Zoom Video Communications Inc on Monday said it has created a $100 million fund to invest in startup software companies that build apps using its technology.

The video conferencing company has become a household name during the pandemic as businesses and schools shifted to its platform, along with rival platforms such as Microsoft Corp's Teams and Cisco Systems Inc's Webex.