Its name stands for Virtualized Environment Neglected Operations Manipulation and VENOM is a particularly apt term given that it can be exploited to allow attackers to execute code on a host computer from a virtual machine, and also access other VMs that are running on the same host. This is especially serious because of the popularity of server consolidation, whereby companies and individuals save on hardware costs by running multiple VMs on the same host OS.
Read more about it here:
http://www.darkreading.com/cloud/venom-zero-day-may-affect-thousands-of-cloud-virtualization-products/d/d-id/1320389
