RingCentral

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RingCentral, Inc.
TypePublic company
IndustryCloud computing-based business phone systems
Founded1999
HeadquartersBelmont, California, U.S.
Key people
Vlad Shmunis (CEO)
Mo Katibeh (COO)
Vaibav Agarwal (Interim CFO)
John Marlow (CAO)[1]
ProductsRingCentral Office
RingCentral Mobile
RingCentral Fax
RevenueIncrease US$1.59 billion (2021)[2]
Decrease US$−376.25 million (2021)[2]
Decrease US$−301.79 million (2021)[2]
Total assetsIncrease US$2.58 billion (2021)[2]
Total equityIncrease US$338.97 million (2021)[2]
Number of employees
3,919 (December 2021)[2]
Websiteringcentral.com

RingCentral, Inc. is an American publicly traded provider of cloud-based communication and collaboration products and services for businesses.[3][4][5][6][7][8][9]

CEO Vlad Shmunis and CTO Vlad Vendrow founded the company in 1999.[10][11][12] Investors included Doug Leone, Sequoia Capital, David Weiden, Khosla Ventures, Rob Theis, Scale Venture Partners, Bobby Yerramilli-Rao, Hermes Growth Partners and DAG Ventures.[13][14][15] It completed its IPO in 2013.[16][17]

History[edit]

RingCentral founders Shmunis and Vendrow previously worked together at RingZero Systems, where Shmunis was founder/CEO and Vendrow was director of engineering. RingZero was focused on small business communications on Microsoft Windows.[18] The company was sold to Motorola for "double-digit millions". After Motorola changed the focus exclusively on mobile platforms, Shmunis and Vendrow founded RingCentral.[19][11]

RingCentral was bootstrapped from 1999 until it received its first round of venture capital investment in 2006.[18] In 2011, it added Cisco and Silicon Valley Bank as investors and had, to date, secured $45 million in capital investment.[20] It completed its ISO on September 27, 2013,[16][17] and completed a follow-on offering in March 2014 that raised $39.8 million.[21]

In May 2019, it purchased naming rights to the Oakland Coliseum, renaming RingCentral Coliseum.[22]

In February 2020, RingCentral and Avaya unveiled the Avaya Cloud Office application.[23] Within four months, RingCentral shares rose 54%.[24]

In April 2020, RingCentral launched RingCentral Video, a video-conferencing product.[25][26]

Acquisitions[edit]

In June 2015, RingCentral acquired Glip, a team collaboration provider.[27] In October 2018, it acquired Dimelo, a Paris-based OmniChannel contact center provider.[28]

In January 2019, it acquired Connect First, a Boulder, Colorado-based outbound and blended customer engagement provider.[29]

In December 2020, it purchased DeepAffects, which specializes in intelligence-assisted speech recognition.[30] In March 2021, it purchased Kindite, an encryption service provider.[31]

Products[edit]

RingCentral's flagship product is RingCentral Office. The company also offers RingCentral Professional, and RingCentral Fax.[32][33]

It also provides a cloud-based business phone system with PBX features such as multiple extensions, call control; Outlook, Salesforce, Google Docs, DropBox and Box integration; SMS; video conferencing and web conferencing; fax; auto-receptionist; call logs; and rule-based call routing and answering.[7][33][34] Unlike most cloud-based technologies, business customers are not required to invest capital or purchase maintenance contracts.[35]

RingCentral Office[edit]

RingCentral Office is a cloud-based PBX system for businesses.[34] RingCentral Office features include call auto-attendant, company directory, call forwarding and handling, multiple extensions, a mobile app for iPhone and Android, Business SMS, video conferencing and screen-sharing, and fax.[34]

RingCentral Professional[edit]

RingCentral Professional is a suite that provides a telephone number, voice mail, dial-by-name directory, call forwarding, and other features through iPhone and Android apps for phones and other devices.[15][36]

RingCentral Fax[edit]

RingCentral Fax lets users send and receive faxes via the Internet without a fax machine.[37][38] It integrates with Dropbox, Box, and Google Docs.[37]

Other products[edit]

RingCentral Meetings is a video conferencing product based the Zoom software application[39]

RingCentral Webinar allows companies to host HD-ready virtual events with up to 3000 attendees.

RingCentral Rooms is a web-conference management tool.

RingCentral Glip[edit]

In June 2015, RingCentral acquired Glip,[40] a persistent workstream collaboration platform that adds team messaging, document sharing, task and event management, and other collaboration functionality to the RingCentral platform.[41]

Offices[edit]

RingCentral's headquarters are in Belmont, California, with other US offices in Denver, Charlotte, Boulder and Boca Raton. It has international offices in Toronto; London; Paris; Singapore; Manila; Bangalore; Xiamen, China; and Odessa, Ukraine.[42][13][43][18]

References[edit]

  1. ^ "Meet our executive team | RingCentral". www.ringcentral.com.
  2. ^ a b c d e f "RingCentral, Inc. 2021 Form 10-K Annual Report". U.S. Securities and Exchange Commission. 1 March 2022.
  3. ^ Rebecca Buckman (March 4, 2008). "Internet Phone Service Gets Plush". The Wall Street Journal. Retrieved August 22, 2017.
  4. ^ "The jobs machine". The Economist. April 13, 2013. Retrieved August 22, 2017.
  5. ^ "Services That Eliminate Telephone Tag". Bloomberg Businessweek. August 11, 2009. Retrieved August 22, 2017.
  6. ^ Kurt Wagner (June 10, 2013). "Native ads? Bitcoins? 5 tech buzzwords explained". Fortune. Retrieved August 22, 2017.
  7. ^ a b "Businesses Move To Voice-Over-IP". Forbes. December 9, 2008. Retrieved August 22, 2017.
  8. ^ Zack Stern (September 16, 2009). "Online Phone Service Bundles Small-Business Needs". Washington Post/PC World. Retrieved August 22, 2017.
  9. ^ "13 startup stars on the verge of an IPO". Fortune. CNNMoney. Retrieved August 22, 2017.
  10. ^ "Cloud-based phones bring angelic benefits". The Salt Lake Tribune. May 18, 2012. Retrieved August 22, 2017.
  11. ^ a b "Vlad Vendrow". Retrieved August 6, 2019.
  12. ^ Pierre Bienaimé (February 9, 2012). "The Man Who Turned $5,000 into RingCentral". Palo Alto Patch. Retrieved August 22, 2017.
  13. ^ a b Patrick Hoge (June 9, 2010). "Ringtones in the Cloud". Upstart Business Journal. Retrieved August 22, 2017.
  14. ^ Sean Ludwig (September 9, 2011). "RingCentral raises an additional $10M to bring calling to the cloud". VentureBeat. Retrieved August 22, 2017.
  15. ^ a b Leena Rao (April 18, 2012). "RingCentral Launches New Mobile, Cloud-Based Phone System For Businesses". TechCrunch. Retrieved August 22, 2017.
  16. ^ a b Patrick Hoge (September 27, 2013). "RingCentral makes music, Violin Memory plunges". San Francisco Business Times. Retrieved August 22, 2017.
  17. ^ a b Tomio Geron (September 27, 2013). "Violin Memory IPO Flails, RingCentral IPO Soars". Forbes. Retrieved August 22, 2017.
  18. ^ a b c Bill Robinson (March 24, 2012). "Memo to Small Business: RingCentral Will Take Your Calls". HuffPost. Retrieved August 22, 2017.
  19. ^ "The Man Who Turned $5,000 into RingCentral". Retrieved August 6, 2019.
  20. ^ Leena Rao (September 8, 2011). "Eyeing An IPO, Cloud-Based Phone System RingCentral Raises $10M From Cisco And Others". TechCrunch. Retrieved August 22, 2017.
  21. ^ John Sailors (March 12, 2014). "RingCentral closes follow-on offering". San Francisco Business Times. Retrieved August 22, 2017.
  22. ^ "Report: Oakland Coliseum to seal Ring Central naming rights deal". Retrieved August 6, 2019.
  23. ^ "Avaya and RingCentral Introduce Avaya Cloud Office™, Making Cloud Communications Simple". ringcentral.com. Retrieved 2021-07-05.{{cite web}}: CS1 maint: url-status (link)
  24. ^ "RingCentral Stock Gains 54% In Four Months On New Avaya Partnership". forbes.com. Retrieved 2021-07-05.{{cite web}}: CS1 maint: url-status (link)
  25. ^ Savitz, Eric J. "Zoom Is Getting New Competition, as RingCentral Jumps Into Video Chat". www.barrons.com. Retrieved 2020-04-06.
  26. ^ "RingCentral dials back Zoom partnership with video app launch". SearchUnifiedCommunications. Retrieved 2020-04-06.
  27. ^ "RingCentral Gobbles Up Glip". Retrieved August 6, 2019.
  28. ^ "RingCentral Acquires Customer Engagement Platform Dimelo". Retrieved August 6, 2019.
  29. ^ "RingCentral Announces Definitive Agreement to Acquire Connect First to Expand its Customer Engagement Portfolio". Retrieved August 13, 2022.
  30. ^ "Virtual Phone System: What Is It & How Does It Work?". founderjar.com. 25 May 2021. Retrieved 2021-07-05.{{cite web}}: CS1 maint: url-status (link)
  31. ^ "RingCentral Acquires Encryption Company". mytechdecisions.com. 22 March 2021. Retrieved 2021-07-05.{{cite web}}: CS1 maint: url-status (link)
  32. ^ "RingCentral, Inc". Bloomberg Businessweek. Retrieved August 22, 2017.
  33. ^ a b Oliver Rist (January 7, 2008). "RingCentral DigitalLine VoIP Service". PC Magazine. Retrieved August 22, 2017.
  34. ^ a b c Fahmida Y. Rashid (February 12, 2013). "RingCentral Office". PC Magazine. Retrieved August 22, 2017.
  35. ^ Renee Hopkins Callahan (December 9, 2008). "Businesses Move To Voice-Over-IP". Forbes. Retrieved August 22, 2017.
  36. ^ Elmer-DeWitt, Philip (August 24, 2009). "Why did Apple okay RingCentral?". Fortune. Retrieved August 22, 2017.
  37. ^ a b Sean Ludwig (March 21, 2012). "RingCentral integrates with Dropbox, Box, Google to bring faxing to the cloud". VentureBeat. Retrieved August 22, 2017.
  38. ^ Adam C. Uzialko (August 15, 2017). "The Best Online Fax Services". Business News Daily. Retrieved August 22, 2017.
  39. ^ "Zoom is Suing RingCentral". UC Today. March 15, 2021.
  40. ^ Arik Hesseldahl (June 19, 2015). "RingCentral Expands Beyond Phone Service With Glip Acquisition". Re/Code. Retrieved August 22, 2017.
  41. ^ Nathan Eddy (June 19, 2015). "RingCentral Acquires Cloud Messaging Company Glip". eWeek. Retrieved August 22, 2017.
  42. ^ Fahmida Y. Rashid (April 17, 2013). "RingCentral Explains How the Cloud Transformed VoIP". PC Magazine. Retrieved August 22, 2017.
  43. ^ Nate Werlin (June 21, 2011). "Entrepreneur of the Year finalist: "Never run away from a fight"". VentureBeat. Retrieved August 22, 2017.

External links[edit]