Video conferencing software Zoom is available for $28 to $32, with yuan of Chinese descent as the majority shareholder

Video conferencing software Zoom has updated its prospectus and announced a range of $28 to $32. Zoom is listed on Nasdaq under the ticker symbol "ZM" .

Zoom's videoconferencing service is easy to use, supports mobile devices well and is cost-effective for small teams, thus attracting a broad and diverse customer base.

Zoom's customers include Conde Nast, Uber and Williams-Sonoma.

Zoom's rivals include Cisco Webex, Microsoft Skype, Google and Logmein, and point out that Amazon and Facebook "could invest in video communications tools in the past and in the future. ".

In the previous fiscal year, which ended on 31 January, Zoom earned $330.5 million, an increase of 118 per cent over the same period a year earlier, when it earned $151 million. Zoom reported a net profit of $7.6 million, compared with a loss of $3.82 million a year earlier.

After the IPO, Eric Yuan, the Chinese founder of Zoom, owned 21 per cent and 20.7 per cent of the voting rights.

Zoom's largest external shareholder is Emergence Capital, with a 13.3% stake and 13.1% voting power. Sequoia capital holds a 12.1 percent stake and 11.9 percent voting rights.

In addition, Digital Mobile Venture Ltd holds 9.3% of the shares and 9.2% of the voting rights, while Bucantini Enterprises Limited holds 6.4% and 6.3% of the voting rights.

Yuan topped Glassdoor's list of the top 100 U.S. ceos.

Tech ceos made the top 100 with 26, Facebook CEO Mark Zuckerberg at No. 8, and Apple CEO Cook at No. 25 with a total of 96