Taiwan investor makes fortune over Zoom stock surge: Bloomberg

A little-known Taiwanese investor has benefited from the uptick in demand for Zoom videoconferencing since employees worldwide started working from home.

Two Zooms are soaring after IPO: Did you buy the wrong one?
Nasdaq is ready for the Zoom IPO, Thursday, April 18, 2019 in New York. The videoconferencing company is headquartered in San Jose, California. (AP Photo/Mark Lennihan)

TAIPEI (The China Post/ANN) – Shares of Zoom recently reported a 170-percent increase in first-quarter revenue, leading some of the biggest names in finance and business to make a fortune.

According to Bloomberg, a little-known Taiwanese investor, who started putting money in the video-conferencing software about a decade ago, has also benefited from the uptick in demand for video conferencing since employees worldwide started working from home.

Samuel Chen, which participated in Zoom’s early funding rounds through his Digital Mobile Venture Ltd, allegedly controls a US$1.6 billion (NT$47.5 billion) stake in the company based on last Thursday’s closing price — assuming the company hasn’t sold stock since the holding was last disclosed at the end of March.

Analysts tracked by Bloomberg are split on the stock’s prospects though, as that there is a risk that many people will abandon the service after the pandemic ends and they return to the workplace en masse.

Zoom’s surging popularity has also been marred by concerns over its security practices, prompting the company to bolster protective measures for users.

Taiwan has already banned the app from all government organizations and specific non-government agencies citing cybersecurity issues.

Bloomberg stressed that Chen keeps a low profile and doesn’t give interviews. He received a bachelor’s degree in chemistry from Taiwan’s National Tsing Hua University and earned his early fortune through a business trading ink, according to a book on successful former students published to celebrate the college’s 100th anniversary.

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