Ooma

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Ooma, Inc.
TypePublic
NYSE: OOMA
Russell 2000 Component
IndustryTelecommunication services
FoundedPalo Alto, California, U.S. in 2004 (2004)
FounderAndrew Frame
Headquarters525 Almanor Avenue, Suite 200,
Sunnyvale
,
California
Key people
Eric B. Stang
(President, Chairman, & CEO)
Ravi Narula (CFO)
ProductsVoice over IP, Talkatone
RevenueIncrease US$ 168.9 million
(FY JAN 31 2021)[1]
Decrease US$ -19.71 million
(FY JAN 31 2020)[2]
Decrease US$ -18.80 million
(FY JAN 31 2020)[2]
Total assetsIncrease US$ 80.61 million
(FY JAN 31 2020)[2]
Total equityDecrease US$ 28.42 million
(FY JAN 31 2020)[2]
Number of employees
848 (FY JAN 31 2020)[2]
Websitewww.ooma.com

Ooma, Inc. is an American publicly traded telecommunications company based in the Silicon Valley, California area. Ooma offers communications services including Voice over IP (VoIP) calling for business, home and mobile users.[3][4] In 2015, Ooma was named one of the fastest-growing private companies by Silicon Valley Business Journal.[5]

History[]

Ooma was founded by Jamie Yukes in early 2003 while building a SMB VoIP company. He later pitched Andrew Frame and Shawn Fanning of "Napster" on a golf trip in San Francisco. Frame (who previously worked for Cisco Systems in 2004)[6][7] quickly left Procket Networks to be Ooma's founding CEO. Ooma's initial product was a "VoIP in a box" device which used peer-to-peer VoIP technology to let users make phone calls over other Ooma users' landline services.[8][9] The system worked through a "hub" which connected to the main phone line as well as "scouts" which connected to additional phones.[10] In January 2008, Ooma terminated the use of peer-to-peer technology.[11]

PC Magazine awarded Ooma the DigitalLife Best of Show award in the hardware innovator category for the Ooma Hub in 2007.[12] Frame stepped down from his role as CEO in 2009 and was replaced by Eric Stang.[13] That same year, Ooma released its Telo system, which consisted of a base system to access unlimited calling and caller ID.[14] In 2009, Ooma was awarded an Internet Telephony product of the year award for its development of Ooma Telo and the Ooma Telo handset.[15] That same year, Ooma was given the TMC Labs Innovation Award for the Ooma Hub and Ooma Scout.[16] Ooma received the gold consumer product of the year award as part of the Best in Biz Awards in 2011.[17]

In 2011, it was announced that Ooma's VoIP-In-A-Box was expanding to Canada.[18][19]

Ooma unveiled its HD2 handset in November 2012. The handset includes one-touch voicemail, an intercom, and baby monitoring features. Ooma also launched Ooma Linx in 2012, which used an AC outlet to connect any phone or fax machine to the Telo base station.[20] In December 2012, Ooma received the Internet Telephony Product of the Year award for its development of the Telo, HD2 handset and Linx.[21] Ooma launched the HD3 handset in December 2017[22] and the Ooma Telo 4G system with wireless internet connectivity in January 2019.[23]

Ooma worked with West Valley City, Utah, in June 2014 to offer free telephone service to households through a fiber network.[24] In 2015, Ooma was named one of the fastest-growing private companies by San Francisco Business Times and Silicon Valley Business Journal.[25] That same year, it was a gold winner of the Best of Biz Awards.[26]

Ooma acquired security camera startup Butterfleye in December 2017,[27] custom business communications provider Voxter in March 2018[28] and business communications provider Broadsmart in May 2019.[29] On September 22, 2021, Ooma announced in an email message to its camera users that "We're sorry to inform you that the operation, maintenance and support of Ooma Butterfleye and Smart Cam security cameras will be ending. As such, the last day of operation of your camera(s) will be October 22, 2021. After this day, your camera(s) will stop working and will no longer record videos. Any videos you currently access through the Smart Cam App will become unavailable."

Funding[]

The company's initial funding round raised $7.8 million in 2005. In 2006, Sean Parker invested in the company. Ooma held a Series B funding round in 2007 which raised $12 million. Investors included Worldview Technology Partners and Draper Fisher Jurvetson.[30] In September 2008, Ooma raised $16 million in its Series C funding round.[31]

Ooma raised a $18.3 million Series D funding round in June 2009. The round was led by Worldview Technology Partners.[13][32]

In January 2012, Ooma raised a funding round of $17.3 million from investors including Draper Fisher Jurvetson and Founder's Fund. The company had raised a total of $83.3 million at that time.[33]

Ooma held its IPO in July 2015. The company went public at $13 per share.[3][7] Ooma raised $85 million from the 5 million shares offered.[7]

Operations[]

Ooma's service offerings are broken down into two business models: Ooma Telo for personal or home use and business services including Ooma Office, Ooma Office Pro and Ooma Enterprise.

Ooma Telo[]

Ooma Telo was released on October 1, 2009. Telo is designed to provide unlimited, free VoIP calls within the United States and features Bluetooth integration, and HD voice. A cordless DECT 6.0 handset was also released.[34] Ooma allows customers with existing landline, cable- or DSL-based VoIP service, or mobile service to port their number to Ooma, provided their number is available and able to be ported.[35]

With the premier package, users get Multi-Ring, Do Not Disturb, and enhanced voicemail. Users will also receive Caller ID with Name, which was removed from the basic package following the release of the Ooma Telo. Ooma Premier offers access to Google Voice extensions for customers with Google Voice accounts (Ooma Telo only).[36]

Ooma Basic customers are charged monthly taxes and regulatory recovery fees (which vary by location), and get unlimited calling within the U.S. and Canada, low-cost international calling, free Ooma-to-Ooma calling, basic voicemail, basic caller ID, call waiting, and E911 service.[37]

Ooma Office[]

Launched in 2013, Ooma Office consists of a cloud-based phone system including business applications such as conferencing, virtual fax extensions and extension dialing.[38] In August 2016, the mobile version of Ooma Office was released. The mobile version does not require the base station unit Ooma Office operates through. Features available through the mobile software include a virtual receptionist, call transferring, local and toll-free numbers, conference bridges, and extension dialing. In 2016, the Ooma Office Partner Program was released.[39][40]

In 2020, Ooma introduced Ooma Connect, a base station and adapter that provides a wireless internet connection.[41] Connect can serve as backup to provide business continuity during internet outages or as a primary source of internet access in locations where wired internet service is costly or slow. Ooma also introduced Ooma Managed Wi-Fi that brings an enterprise-grade Wi-Fi solution to businesses at a more affordable price point coupled with managed services to facilitate the implementation and on-going monitoring and management.

Ooma Office Pro[]

Launched in 2019, Ooma Office Pro provides all the features of Ooma Office in addition to advanced features including video meetings, call recording, a desktop app (also known as a soft phone), robocall blocking and voicemail transcription.[42]

Ooma Enterprise[]

Launched in 2018, Ooma Enterprise provides a full, customizable unified communications as a service (UCaaS) solution.

References[]

  1. ^ "US SEC: Fiscal Year 2021 Financial Results Ooma, Inc". U.S. Securities and Exchange Commission. January 31, 2021. Retrieved January 9, 2021.
  2. ^ a b c d e "US SEC: Form 10-K Ooma, Inc". U.S. Securities and Exchange Commission. January 31, 2020. Retrieved January 9, 2021.
  3. ^ a b Gene Marks (December 2, 2015). "Why Ooma Should Be Dialing Up Small Business Owners". Fox Business. Retrieved October 18, 2016.
  4. ^ "Ooma Sees IPO Price of $16-$18/Share". Street Insider. July 6, 2015. Retrieved October 20, 2016.
  5. ^ Lynn Peithman Stock (October 16, 2015). "Silicon Valley Business Journal reveals fastest-growing private companies". Silicon Valley Business Journal. Retrieved October 20, 2016.
  6. ^ "3 Questions For ooma's Andrew Frame". SFist. August 16, 2007. Archived from the original on May 16, 2016. Retrieved October 22, 2016.
  7. ^ a b c Deborah Gage (July 17, 2015). "Internet Telephony Firm Ooma Flops in Trading Debut". The Wall Street Journal. Retrieved October 18, 2016.
  8. ^ Eric Eldon (July 18, 2007). "Ooma's free land-line calling service". Venture Beat. Retrieved October 22, 2016.
  9. ^ Fred J. Aun (July 19, 2007). "Net Phone Offers Free Calls for LIfe". Tech News World. Retrieved October 22, 2016.
  10. ^ "Inside ooma's new phone service with CEO Andrew Frame". Connected Social Media. July 30, 2007. Retrieved October 22, 2016.
  11. ^ "Ooma Home Review - Free VoIP Service For Life". TheVoIPHub. Archived from the original on September 17, 2016. Retrieved September 8, 2016.
  12. ^ Erik Rhey (September 28, 2007). "DigitalLife 2007: Best of Show". PC Magazine. Retrieved October 22, 2016.
  13. ^ a b Om Malik (June 23, 2009). "Ooma Raises $18.3 Million, Resets Valuation". GigaOm. Retrieved October 18, 2016.
  14. ^ Matt Burns (October 1, 2009). "Ooma Telo is here, let the free* calls begin". Tech Crunch. Retrieved October 22, 2016.
  15. ^ Erik Linask. "2009 Internet Telephony Product of the Year Awards". TMC Net. Retrieved October 22, 2016.
  16. ^ "2009 Unified Communications TMC Labs Innovation Award Winners Announced". TMC Net. May 21, 2009. Retrieved October 22, 2016.
  17. ^ "2011 winners: Product categories". Best in Biz Awards. Retrieved October 22, 2016.
  18. ^ Michael Kwan (November 2, 2011). "Ooma VoIP-In-A-Box Service Coning to Canada, Eh!". Mobile Mag. Retrieved October 22, 2016.
  19. ^ Matt Burns (November 2, 2011). "Ooma Invades Canada, US Premier Subscribers Can Now Talk To Their Northern Cousins For Free". Tech Crunch. Retrieved October 22, 2016.
  20. ^ "Ooma, the best Internet phone system, gets better". Hartford Courant. November 12, 2012. Retrieved October 22, 2016.
  21. ^ "Announcing the 2012 Internet Telephony Product of the Year Award Winners". TMC News. December 7, 2012. Retrieved October 22, 2016.
  22. ^ Inc, Ooma (December 13, 2017). "Ooma Launches New Products for Its Award-Winning Smart Home Phone Service". GlobeNewswire News Room. Retrieved December 30, 2020.
  23. ^ "Ooma Introduces Advanced Wireless Home Phone Using Sprint Nationwide 4G Network". investors.ooma.com. Retrieved December 30, 2020.
  24. ^ Viviane Vo-Duc (June 11, 2014). "West Valley City teams up with Ooma to save residents money on phone and Internet". Deseret News.
  25. ^ "Ooma Earns Distinction as One of the Fastest Growing Companies From Silicon Valley Bus. Journal & San Francisco Bus. Times". ADVFN. Retrieved October 22, 2016.
  26. ^ "2015 winners news". Best in Biz Awards. Retrieved October 22, 2016.
  27. ^ Lardinois, Frederic (December 20, 2017). "Ooma acquires AI-powered video camera platform Butterfleye for its home security service". TechCrunch. Oath Inc. Retrieved November 20, 2017.
  28. ^ "Ooma Agrees to Acquire Voxter, Provider of Advanced UCaaS Solutions for Businesses". investors.ooma.com. Retrieved December 30, 2020.
  29. ^ Inc, Ooma (May 21, 2019). "Ooma Agrees to Acquire Broadsmart, Increasing the Scale of Ooma's Business Communications and UCaaS Platforms". GlobeNewswire News Room. Retrieved December 30, 2020.
  30. ^ "Ooma, home communications co., raises $12M". Venture Beat. March 1, 2007. Retrieved October 18, 2016.
  31. ^ "Ooma gets $16M in 3rd round". Silicon Valley / San Jose Business Journal. September 23, 2008. Archived from the original on June 19, 2009. Retrieved May 15, 2009.
  32. ^ "Ooma Gets $18.3M in New Funding". San Francisco Business Times. June 23, 2009. Retrieved July 7, 2009.
  33. ^ Alexia Tsotsis (January 9, 2012). "Ooma Raises $17.3 Million For Its "Free" Home Calling Service". Tech Crunch. Retrieved October 18, 2016.
  34. ^ "Ooma's Telo steps up to DECT 6.0 for free calls across the US". Engadget. Retrieved August 10, 2009.
  35. ^ Rob Pegoraro (May 31, 2015). "Want to move your home number? Take it to the web". USA Today. Retrieved October 20, 2016.
  36. ^ "ooma Adds Features to Enhance Google Voice Experience". March 18, 2009. Retrieved July 20, 2010.
  37. ^ "Ooma Telo Basic Features - Free VoIP Home Phone Service". Ooma.com. Retrieved January 25, 2017.
  38. ^ Gina Narcisi (August 15, 2016). "CRN Exclusive: VoIP Provider Ooma Calls On The Channel With Brand-New Partner Program". CRN. Retrieved October 20, 2016.
  39. ^ Stephanie Condon (August 3, 2016). "Ooma Office for Mobile lets SMBs operate from smartphones". ZD Net. Retrieved October 20, 2016.
  40. ^ Michael Guta (August 10, 2016). "Meet Ooma for Office Mobile: Now You Really Can Run Your Business from Your Phone". Small Biz Trends. Retrieved October 20, 2016.
  41. ^ "Business Phone and Internet Service Bundles | Ooma Connect". Ooma.com - Smart solutions for home and business. Retrieved December 30, 2020.
  42. ^ "Ooma Office Pro - The Smart Solution For Business | Ooma". Ooma.com - Smart solutions for home and business. Retrieved December 30, 2020.
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