RingCentral

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Not to be confused with Ring cent or GrandCentral.
RingCentral, Inc.
TypePublic company
  • NYSE: RNG (Class A)
  • Russell 1000 component
IndustryCloud computing-based business phone systems
Founded1999
HeadquartersBelmont, California, U.S.
Key people
Vlad Shmunis (CEO)
Anand Eswaran (President & COO)
Mitesh Dhruv (CFO)
John Marlow (CAO)[1]
ProductsRingCentral Office
RingCentral Mobile
RingCentral Fax
Revenue$902.8 million (2019)[2]
Total equityUSD 10B
Number of employees
2,363 (December 2019)
Websiteringcentral.com

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

RingCentral CEO Vlad Shmunis and CTO Vlad Vendrow founded the company in 1999.[10][11][12] RingCentral 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[]

The co-founders of RingCentral, Vlad Shmunis and Vlad Vendrow, previously worked together at RingZero Systems, where Vlad Shmunis was Founder / CEO and Vlad 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, Vlad Shmunis and Vlad 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, RingCentral added Cisco and Silicon Valley Bank as investors and had, to date, secured a total of $45 million in capital investment.[20]

On September 27, 2013, RingCentral completed its IPO.[16][17] The company completed a follow-on offering in March 2014 that raised $39.8 million for the company.[21]

In May 2019, RingCentral purchased the naming rights to the Oakland Coliseum renaming it to the RingCentral Coliseum. It is home to the Oakland Athletics and was the home of the Oakland Raiders during the first year of the naming rights agreement.[22]

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

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

In December 2020, RingCentral purchased DeepAffects that specializes in intelligence-assisted speech recognition.[27]

In March 2021, RingCentral purchased Kindite, an encryption service provider.[28]

Acquisitions[]

In June 2015, RingCentral acquired Glip, a team collaboration provider.[29]

In October 2018, RingCentral acquired Dimelo, a Paris-based OmniChannel contact center provider.[30]

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

Products[]

RingCentral's flagship product is RingCentral Office. The company also offers RingCentral Professional, and RingCentral Fax.[31][32]

RingCentral provides a cloud-based business phone system. It offers 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][32][33] Customers do not require capital investment or maintenance contracts, which lowers customer costs and – as with most cloud-based technologies -- "potentially disrupts" traditional on-premises PBX providers.[34]

RingCentral Office[]

RingCentral Office is a cloud-based PBX system for businesses.[33] 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.[33]

RingCentral Professional[]

RingCentral Professional is a suite that provides a universal telephone number, voice mail, dial-by-name directory, call-forwarding, and other features through a smartphone app on iPhone and Android devices.[15][35]

RingCentral Fax[]

RingCentral Fax allows users to send and receive faxes through the Internet without a fax machine.[36][37] The service integrates with Dropbox, Box, and Google Docs.[36]

RingCentral Meetings, Webinar and Rooms[]

  • RingCentral Meetings is a web conferencing solution[buzzword]
  • RingCentral Webinar allows companies to host HD-ready virtual events with up to 3000 attendees.
  • RingCentral Rooms is to manage web conferences.

RingCentral Glip[]

In June 2015, RingCentral acquired Glip.[38] Glip is a persistent workstream collaboration platform which adds team messaging, document sharing, task and event management, and other collaboration functionality to the RingCentral platform. Glip was acquired by RingCentral for an undisclosed amount.[39]

Offices[]

It is headquartered in Belmont, California, and has additional US offices in Denver, Charlotte, Boulder and Boca Raton, with international offices in Toronto, London, Paris, Singapore, Manila, Bangalore Xiamen, China, St. Petersburg, Russia, and Odessa, Ukraine.[40][13][41][18]

References[]

  1. ^ "Meet our executive team | RingCentral". www.ringcentral.com.
  2. ^ "Stockrow RNG Income Statement". Stockrow. Retrieved May 27, 2020.
  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.
  24. ^ "RingCentral Stock Gains 54% In Four Months On New Avaya Partnership". forbes.com. Retrieved 2021-07-05.
  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. ^ "Virtual Phone System: What Is It & How Does It Work?". founderjar.com. Retrieved 2021-07-05.
  28. ^ "RingCentral Acquires Encryption Company". mytechdecisions.com. Retrieved 2021-07-05.
  29. ^ "RingCentral Gobbles Up Glip". Retrieved August 6, 2019.
  30. ^ "RingCentral Acquires Customer Engagement Platform Dimelo". Retrieved August 6, 2019.
  31. ^ "RingCentral, Inc". Bloomberg Businessweek. Retrieved August 22, 2017.
  32. ^ a b Oliver Rist (January 7, 2008). "RingCentral DigitalLine VoIP Service". PC Magazine. Retrieved August 22, 2017.
  33. ^ a b c Fahmida Y. Rashid (February 12, 2013). "RingCentral Office". PC Magazine. Retrieved August 22, 2017.
  34. ^ Renee Hopkins Callahan (December 9, 2008). "Businesses Move To Voice-Over-IP". Forbes. Retrieved August 22, 2017.
  35. ^ Philip Elmer-DeWitt (August 24, 2009). "Why did Apple okay RingCentral?". Fortune. Retrieved August 22, 2017.
  36. ^ a b Sean Ludwig (March 21, 2012). "RingCentral integrates with Dropbox, Box, Google to bring faxing to the cloud". VentureBeat. Retrieved August 22, 2017.
  37. ^ Adam C. Uzialko (August 15, 2017). "The Best Online Fax Services". Business News Daily. Retrieved August 22, 2017.
  38. ^ Arik Hesseldahl (June 19, 2015). "RingCentral Expands Beyond Phone Service With Glip Acquisition". Re/Code. Retrieved August 22, 2017.
  39. ^ Nathan Eddy (June 19, 2015). "RingCentral Acquires Cloud Messaging Company Glip". eWeek. Retrieved August 22, 2017.
  40. ^ Fahmida Y. Rashid (April 17, 2013). "RingCentral Explains How the Cloud Transformed VoIP". PC Magazine. Retrieved August 22, 2017.
  41. ^ Nate Werlin (June 21, 2011). "Entrepreneur of the Year finalist: "Never run away from a fight"". VentureBeat. Retrieved August 22, 2017.

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