Zoom mogul drops $15M on 2 Rancho Palos Verdes pads

Investor and tech entrepreneur bought nearby Tuscan-style homes with cliffside views

Los Angeles /
Apr.April 12, 2021 10:05 AM
Subrah Iyar and one of his Sea Cove Drive properties (Getty, Redfin)
Subrah Iyar and one of his Sea Cove Drive properties (Getty, Redfin)

Tech entrepreneur and early Zoom investor Subrah Iyar paid $14.5 million for two nearby homes in Rancho Palos Verdes.

The properties are both Tuscan-style villas about five houses from one another on Sea Cove Drive, each with sweeping views of the Pacific Ocean and Catalina Island, according to Dirt.com.

Iyar has a long history in Silicon Valley and lives there still. He worked for Apple in the 1980s, then Intel, and in the mid-1990s founded a web conferencing company that sold to Cisco in 2007 for $3.2 billion. He was one of the earliest investors in Zoom and serves as the company’s strategic adviser.

His two daughters recently married twin brothers in a wedding featured on Netflix’s “The Big Day” series, and it’s possible the homes are wedding presents, according to Dirt.

Both homes were built in 1989. Iyar paid $7.8 million for the larger of the two, which spans 7,900 square feet with six bedrooms and 6.5 bathrooms. The property encompasses 1.66 acres.

He paid $6.7 million for the other home, which is 7,600 square feet and has six bedrooms and 6.5 bathrooms. It is on about two-thirds of an acre.

As the pandemic turbocharged demand for Zoom, the company’s stock price soared, from about $68 in early 2020 to a peak of $559 in October. Its stock price remains above $300.

[Dirt] — Dennis Lynch

 

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