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Zoom to invest $100 million in companies developing third-party apps for its marketplace

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In a move towards becoming a mass adoption internet platform, Zoom announced the launch of a $100 million fund that will invest in companies that can build products using Zoom's developer platform. The "Zoom Apps Fund" will provide developers funds to build products and services for the Zoom Apps marketplace that was launched last year. "We're looking for companies with a viable product and early market traction, and a commitment to developing on and investing in the Zoom ecosystem," said Colin Born, head of Zoom's Corporate Development, in a blog post. What is Zoom's marketplace? The company, which became extremely popular during the COVID19 pandemic, launched a marketplace that sold services on top of the main Zoom application. This was Zoom's way of indicating to the marketplace that it doesn't want to be seen as just a video-calling app. The mini-apps, dubbed "Zapps",…

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