Zoom Video Communications (ZM) SC 13G/A Zoom Video Communications / SEQUOIA CAPITAL U.S. GROWTH FUND V ownership change

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G

(Rule 13d-102)

Information to be Included in Statements Filed Pursuant to § 240.13d-1(b), (c) and (d) and

Amendments Thereto Filed Pursuant to § 240.13d-2

Under the Securities Exchange Act of 1934

(Amendment No. 1)*

ZOOM VIDEO COMMUNICATION, INC.

(Name of Issuer)

Class A Common Stock, $0.001 par value per share

(Title of Class of Securities)

98980L101

(CUSIP Number)

December 31, 2020

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this schedule is filed:

☐ Rule 13d-1(b)

☐ Rule 13d-1(c)

☒ Rule 13d-1(d)

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

** This CUSIP number applies to the Issuer’s American depositary shares, each representing four Class A Ordinary Shares.

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

CUSIP No. 98980L101 SCHEDULE 13G Page 2 of 16 Pages

1	NAME OF REPORTING PERSON   SEQUOIA CAPITAL U.S. GROWTH FUND V, L.P. (“SC USGF V”)
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP   (a)  ☐        (b)  ☐
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION   CAYMAN ISLANDS

NUMBER OF SHARES  BENEFICIALLY  OWNED BY EACH REPORTING PERSON WITH	5	SOLE VOTING POWER   0
	6	SHARED VOTING POWER   0
	7	SOLE DISPOSITIVE POWER   0
	8	SHARED DISPOSITIVE POWER   0

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON   0
10	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES   ☐
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9   0.0%1
12	TYPE OF REPORTING PERSON   PN

1 Based on a total of 198,715,606 shares outstanding as of November 20, 2020, as reported in the Issuer’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on December 4, 2020.

CUSIP No. 98980L101 SCHEDULE 13G Page 3 of 16 Pages

1	NAME OF REPORTING PERSON   SCGF V MANAGEMENT, L.P. (“SCGF V MGMT”)
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP   (a)  ☐        (b)  ☐
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION   CAYMAN ISLANDS

NUMBER OF SHARES  BENEFICIALLY  OWNED BY EACH REPORTING PERSON WITH	5	SOLE VOTING POWER   0
	6	SHARED VOTING POWER   0
	7	SOLE DISPOSITIVE POWER   0
	8	SHARED DISPOSITIVE POWER   0

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON   0
10	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES   ☐
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9   0.0%1
12	TYPE OF REPORTING PERSON   PN

1 Based on a total of 198,715,606 shares outstanding as of November 20, 2020, as reported in the Issuer’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on December 4, 2020.

CUSIP No. 98980L101 SCHEDULE 13G Page 4 of 16 Pages

1	NAME OF REPORTING PERSON   SEQUOIA CAPITAL U.S. GROWTH FUND VII, L.P. (“SC USGF VII”)
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP   (a)  ☐        (b)  ☐
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION   CAYMAN ISLANDS

NUMBER OF SHARES  BENEFICIALLY  OWNED BY EACH REPORTING PERSON WITH	5	SOLE VOTING POWER   0
	6	SHARED VOTING POWER   0
	7	SOLE DISPOSITIVE POWER   0
	8	SHARED DISPOSITIVE POWER   0

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON   0
10	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES   ☐
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9   0.0%1
12	TYPE OF REPORTING PERSON   PN

1 Based on a total of 198,715,606 shares outstanding as of November 20, 2020, as reported in the Issuer’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on December 4, 2020.

CUSIP No. 98980L101 SCHEDULE 13G Page 5 of 16 Pages

1	NAME OF REPORTING PERSON   SEQUOIA CAPITAL U.S. GROWTH VII PRINCIPALS FUND, L.P. (“SC USGF VII PF”)
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP   (a)  ☐        (b)  ☐
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION   CAYMAN ISLANDS

NUMBER OF SHARES  BENEFICIALLY  OWNED BY EACH REPORTING PERSON WITH	5	SOLE VOTING POWER   0
	6	SHARED VOTING POWER   0
	7	SOLE DISPOSITIVE POWER   0
	8	SHARED DISPOSITIVE POWER   0

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON   0
10	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES   ☐
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9   0.0%1
12	TYPE OF REPORTING PERSON   PN

1 Based on a total of 198,715,606 shares outstanding as of November 20, 2020, as reported in the Issuer’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on December 4, 2020.

CUSIP No. 98980L101 SCHEDULE 13G Page 6 of 16 Pages

1	NAME OF REPORTING PERSON   SC U.S. GROWTH VII MANAGEMENT, L.P. (“SC USG VII MGMT”)
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP   (a)  ☐        (b)  ☐
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION   CAYMAN ISLANDS

NUMBER OF SHARES  BENEFICIALLY  OWNED BY EACH REPORTING PERSON WITH	5	SOLE VOTING POWER   0
	6	SHARED VOTING POWER   0
	7	SOLE DISPOSITIVE POWER   0
	8	SHARED DISPOSITIVE POWER   0

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON   0
10	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES   ☐
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9   0.0%1
12	TYPE OF REPORTING PERSON   PN

1 Based on a total of 198,715,606 shares outstanding as of November 20, 2020, as reported in the Issuer’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on December 4, 2020.

CUSIP No. 98980L101 SCHEDULE 13G Page 7 of 16 Pages

1	NAME OF REPORTING PERSON   SEQUOIA CAPITAL GLOBAL GROWTH FUND II, L.P. (“SC GGFII”)
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP   (a)  ☐        (b)  ☐
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION   CAYMAN ISLANDS

NUMBER OF SHARES  BENEFICIALLY  OWNED BY EACH REPORTING PERSON WITH	5	SOLE VOTING POWER   0
	6	SHARED VOTING POWER   0
	7	SOLE DISPOSITIVE POWER   0
	8	SHARED DISPOSITIVE POWER   0

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON   0
10	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES   ☐
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9   0.0%1
12	TYPE OF REPORTING PERSON   PN

1 Based on a total of 198,715,606 shares outstanding as of November 20, 2020, as reported in the Issuer’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on December 4, 2020.

CUSIP No. 98980L101 SCHEDULE 13G Page 8 of 16 Pages

1	NAME OF REPORTING PERSON   SEQUOIA CAPITAL GLOBAL GROWTH II PRINCIPALS FUND, L.P. (“SC GGFII PF”)
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP   (a)  ☐        (b)  ☐
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION   CAYMAN ISLANDS

NUMBER OF SHARES  BENEFICIALLY  OWNED BY EACH REPORTING PERSON WITH	5	SOLE VOTING POWER   0
	6	SHARED VOTING POWER   0
	7	SOLE DISPOSITIVE POWER   0
	8	SHARED DISPOSITIVE POWER   0

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON   0
10	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES   ☐
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9   0.0%1
12	TYPE OF REPORTING PERSON   PN

1 Based on a total of 198,715,606 shares outstanding as of November 20, 2020, as reported in the Issuer’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on December 4, 2020.

CUSIP No. 98980L101 SCHEDULE 13G Page 9 of 16 Pages

1	NAME OF REPORTING PERSON   SC GLOBAL GROWTH II MANAGEMENT, L.P. (“SCGGFII MGMT”)
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP   (a)  ☐        (b)  ☐
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION   CAYMAN ISLANDS

NUMBER OF SHARES  BENEFICIALLY  OWNED BY EACH REPORTING PERSON WITH	5	SOLE VOTING POWER   0
	6	SHARED VOTING POWER   0
	7	SOLE DISPOSITIVE POWER   0
	8	SHARED DISPOSITIVE POWER   0

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON   0
10	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES   ☐
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9   0.0%1
12	TYPE OF REPORTING PERSON   PN

1 Based on a total of 198,715,606 shares outstanding as of November 20, 2020, as reported in the Issuer’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on December 4, 2020.

CUSIP No. 98980L101 SCHEDULE 13G Page 10 of 16 Pages

1	NAME OF REPORTING PERSON   SC US (TTGP), LTD. (“SC US TTGP”)
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP   (a)  ☐        (b)  ☐
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION   CAYMAN ISLANDS

NUMBER OF SHARES  BENEFICIALLY  OWNED BY EACH REPORTING PERSON WITH	5	SOLE VOTING POWER   0
	6	SHARED VOTING POWER   0
	7	SOLE DISPOSITIVE POWER   0
	8	SHARED DISPOSITIVE POWER   0

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON   0
10	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES   ☐
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9   0.0%1
12	TYPE OF REPORTING PERSON   OO

1 Based on a total of 198,715,606 shares outstanding as of November 20, 2020, as reported in the Issuer’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on December 4, 2020.

CUSIP No. 98980L101 SCHEDULE 13G Page 11 of 16 Pages

1	NAME OF REPORTING PERSON   ROELOF BOTHA (“RB”)
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP   (a)  ☐        (b)  ☐
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION   USA

NUMBER OF SHARES  BENEFICIALLY  OWNED BY EACH REPORTING PERSON WITH	5	SOLE VOTING POWER   165,351, of which 165,351 shares are Class A common stock
	6	SHARED VOTING POWER   0
	7	SOLE DISPOSITIVE POWER   165,351, of which 165,351 shares are Class A common stock
	8	SHARED DISPOSITIVE POWER   0

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON   165,351
10	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES   ☐
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9   Less than 0.1%1
12	TYPE OF REPORTING PERSON   IN

1 Based on a total of 198,715,606 shares outstanding as of November 20, 2020, as reported in the Issuer’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on December 4, 2020.

CUSIP No. 98980L101 SCHEDULE 13G Page 12 of 16 Pages

1	NAME OF REPORTING PERSON   DOUGLAS LEONE (“DL”)
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP   (a)  ☐        (b)  ☐
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION   USA

NUMBER OF SHARES  BENEFICIALLY  OWNED BY EACH REPORTING PERSON WITH	5	SOLE VOTING POWER   0
	6	SHARED VOTING POWER   0
	7	SOLE DISPOSITIVE POWER   0
	8	SHARED DISPOSITIVE POWER   0

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON   0
10	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES   ☐
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9   0.0%1
12	TYPE OF REPORTING PERSON   IN

1 Based on a total of 198,715,606 shares outstanding as of November 20, 2020, as reported in the Issuer’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on December 4, 2020.

CUSIP No. 98980L101 SCHEDULE 13G Page 13 of 16 Pages

ITEM 1.

(a) Name of Issuer:

Zoom Video Communications, Inc.

(b) Address of Issuer’s Principal Executive Offices:

55 Almaden Boulevard, 6th Floor

San Jose, California 95113

ITEM 2.

(a) Name of Persons Filing:

Sequoia Capital U.S. Growth Fund V, L.P.

SCGF V Management, L.P.

Sequoia Capital U.S. Growth Fund VII, L.P.

Sequoia Capital U.S. Growth VII Principals Fund, L.P.

SC U.S. Growth VII Management, L.P.

Sequoia Capital Global Growth Fund II, L.P.

Sequoia Capital Global Growth II Principals Fund, L.P.

SC Global Growth II Management, L.P.

SC US (TTGP), LTD.

Roelof Botha

Douglas Leone

The General Partner of SC USGF V is SCGF V MGMT. The General Partner of each of SC USGF VII and SC USGF VII PF is SC USG VII MGMT. The General Partner of each of SC GGFII and SC GGFII PF is SCGGFII MGMT. The General Partner of each of SCGF V MGMT, SC USG VII MGMT and SCGGFII MGMT is SC US TTGP. The directors and stockholders of SC US TTGP who exercise voting and investment discretion with respect to the shares held by SC GGFII and SC GGFII PF are Messrs. DL and RB.

(b) Address of Principal Business Office or, if none, Residence:

2800 Sand Hill Road, Suite 101

Menlo Park, CA 94025

(c) Citizenship:

SC USGF V, SCGF V MGMT, SC USGF VII, SC USGF VII PF, SC USG VII MGMT, SC GGFII, SC GGFII PF, SCGGFII MGMT, SC US TTGP: Cayman Islands

RB, DL: USA

(d) CUSIP Number:

98980L101

ITEM 3. If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:

NOT APPLICABLE

ITEM 4. OWNERSHIP

SEE ROWS 5 THROUGH 11 OF COVER PAGES

ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS

If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following  ☒.

CUSIP No. 98980L101 SCHEDULE 13G Page 14 of 16 Pages

ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON

NOT APPLICABLE

ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY.

NOT APPLICABLE

ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.

NOT APPLICABLE

ITEM 9. NOTICE OF DISSOLUTION OF GROUP.

NOT APPLICABLE

ITEM 10. CERTIFICATION

NOT APPLICABLE

CUSIP No. 98980L101 SCHEDULE 13G Page 15 of 16 Pages

SIGNATURES

After reasonable inquiry and to the best of my knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

Dated: February 16, 2021

Sequoia Capital U.S. Growth Fund V, L.P.
By:	SCGF V Management, L.P.
	its General Partner
By:	SC US (TTGP), Ltd.
	its General Partner
By:	/s/ Douglas Leone
	Douglas Leone, Director
SCGF V Management, L.P.
By:	SC US (TTGP), Ltd.
	its General Partner
By:	/s/ Douglas Leone
	Douglas Leone, Director
Sequoia Capital U.S. Growth Fund VII, L.P. Sequoia Capital U.S. Growth VII Principals Fund, L.P.
By:	SC U.S. Growth VII Management, L.P.
	its General Partner
By:	SC US (TTGP), LTD.
	its General Partner
By:	/s/ Douglas Leone
	Douglas Leone, Director
SC U.S. Growth VII Management, L.P.
By:	SC US (TTGP), Ltd.
	its General Partner
By:	/s/ Douglas Leone
	Douglas Leone, Director

CUSIP No. 98980L101 SCHEDULE 13G Page 16 of 16 Pages

Sequoia Capital Global Growth Fund II, L.P. Sequoia Capital Global Growth II Principals Fund, L.P.
By:	SC Global Growth II Management, L.P.
	its General Partner
By:	SC US (TTGP), Ltd.
	its General Partner
By:	/s/ Douglas Leone
	Douglas Leone, Director
SC Global Growth II Management, L.P.
By:	SC US (TTGP), Ltd.
	its General Partner
By:	/s/ Douglas Leone
	Douglas Leone, Director
SC US (TTGP), Ltd.
By:	/s/ Douglas Leone
	Douglas Leone, Director
Roelof Botha
By:	/s/ Roelof Botha
	Roelof Botha
Douglas Leone
By:	/s/ Douglas Leone
	Douglas Leone