A China-born entrepreneur, Eric Yuan, who was denied visa by the United States of America government is now a billionaire.
Yuan finally made it to the US two years after his visa rejection and has become a major shareholder of video conference services firm Zoom Video Communications Inc.
The video communications company have raised $751 million in an initial public offering Wednesday, April 17, Bloomberg reports.
It was gathered that Yuan’s family stock hit $57 million, based on Zoom’s IPO price of $36 a share.
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The billionaire’s company’s reported net income of $7.6 million on revenue of $331 million for the year is now nine times worth 1 billion.
Yuan who started his career at the WebEx communication also worked at Cisco Systems Inc.before he came up with Zoom video communications.
He said his dream was to have a smart device which can allow him see and talk to people in just one click.
The billionaire said: “And every day I thought about that.”
TUKO.co.ke earlier reported how a Kenyan business tycoon has taken to the courts to battle it out with a mobile money lending company that blacklisted his name with the Credit Reference Bureau (CRB) over KSh 1,000 loan that he never took.
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