RingCentral

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]

Not to be confused with Ring cent or GrandCentral.
RingCentral, Inc.
TypePublic company
IndustryCloud computing-based business phone systems
Founded1999 (1999)
Founders
  • Vlad Shmunis
  • Vlad Vendrow
HeadquartersBelmont, California, U.S.
Key people
  • Vlad Shmunis (CEO)
  • Mo Katibeh (COO)
  • Sonalee Parekh (CFO)
  • John Marlow (CAO)
Products
  • RingCentral Office
  • RingCentral Mobile
  • RingCentral Fax
RevenueIncrease US$1.99 billion (2022)
Decrease US$−649 million (2022)
Decrease US$−879 million (2022)
Total assetsDecrease US$2.07 billion (2022)
Total equityDecrease US$−483 million (2022)
Number of employees
3,902 (December 2022)
Websiteringcentral.com
Footnotes / references
[1][2]

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

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 it RingCentral Coliseum.[22] However, said naming rights were terminated on April 1, 2023.[23]

In February 2020, RingCentral and Avaya unveiled the Avaya Cloud Office application.[24] Within four months, RingCentral shares rose 54%.[25]

In April 2020, RingCentral launched RingCentral Video, a video-conferencing product.[26][27]

Acquisitions

In June 2015, RingCentral acquired Glip, a team collaboration provider.[28] In October 2018, it acquired Dimelo, a Paris-based OmniChannel contact center provider.[29]

In January 2019, it acquired Connect First, a Boulder, Colorado-based outbound and blended customer engagement provider.[30]

In December 2020, it purchased DeepAffects, which specializes in intelligence-assisted speech recognition.[31] In March 2021, it purchased Kindite, an encryption service provider.[32]

Products

RingCentral's flagship product is RingCentral Office. The company also offers RingCentral Professional, and RingCentral Fax.[33][34]

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][34][35] Unlike most cloud-based technologies, business customers are not required to invest capital or purchase maintenance contracts.[36]

RingCentral Office

RingCentral Office is a cloud-based PBX system for businesses.[35] 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.[35]

RingCentral Professional

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][37]

RingCentral Fax

RingCentral Fax lets users send and receive faxes via the Internet without a fax machine.[38][39] It integrates with Dropbox, Box, and Google Docs.[38]

Other products

RingCentral Meetings is a video conferencing product based on the Zoom software application.[40]

RingCentral Glip

In June 2015, RingCentral acquired Glip,[41] a persistent workstream collaboration platform that adds team messaging, document sharing, task and event management, and other collaboration functionality to the RingCentral platform.[42]

Offices

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; Sofia, Bulgaria; Spain; Paris; Singapore; Manila; Bangalore; Xiamen, China; and Odesa, Ukraine.[43][13][44][18]

References
  1. "RingCentral, Inc. 2022 Form 10-K Annual Report". U.S. Securities and Exchange Commission. 23 February 2023.
  2. "Meet our executive team | RingCentral". RingCentral. Retrieved 14 October 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. "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. "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. 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. Leena Rao (April 18, 2012). "RingCentral Launches New Mobile, Cloud-Based Phone System For Businesses". TechCrunch. Retrieved August 22, 2017.
  16. Patrick Hoge (September 27, 2013). "RingCentral makes music, Violin Memory plunges". San Francisco Business Times. Retrieved August 22, 2017.
  17. Tomio Geron (September 27, 2013). "Violin Memory IPO Flails, RingCentral IPO Soars". Forbes. Retrieved August 22, 2017.
  18. 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. "Oakland Coliseum terminates RingCentral naming-rights deal early". Sports Business Journal.
  24. "Avaya and RingCentral Introduce Avaya Cloud Office™, Making Cloud Communications Simple". ringcentral.com. Retrieved 2021-07-05.{{cite web}}: CS1 maint: url-status (link)
  25. "RingCentral Stock Gains 54% In Four Months On New Avaya Partnership". forbes.com. Retrieved 2021-07-05.{{cite web}}: CS1 maint: url-status (link)
  26. Savitz, Eric J. "Zoom Is Getting New Competition, as RingCentral Jumps Into Video Chat". www.barrons.com. Retrieved 2020-04-06.
  27. "RingCentral dials back Zoom partnership with video app launch". SearchUnifiedCommunications. Retrieved 2020-04-06.
  28. "RingCentral Gobbles Up Glip". Retrieved August 6, 2019.
  29. "RingCentral Acquires Customer Engagement Platform Dimelo". Retrieved August 6, 2019.
  30. "RingCentral Announces Definitive Agreement to Acquire Connect First to Expand its Customer Engagement Portfolio". Retrieved August 13, 2022.
  31. "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)
  32. "RingCentral Acquires Encryption Company". mytechdecisions.com. 22 March 2021. Retrieved 2021-07-05.{{cite web}}: CS1 maint: url-status (link)
  33. "RingCentral, Inc". Bloomberg Businessweek. Retrieved August 22, 2017.
  34. Oliver Rist (January 7, 2008). "RingCentral DigitalLine VoIP Service". PC Magazine. Retrieved August 22, 2017.
  35. Fahmida Y. Rashid (February 12, 2013). "RingCentral Office". PC Magazine. Retrieved August 22, 2017.
  36. Renee Hopkins Callahan (December 9, 2008). "Businesses Move To Voice-Over-IP". Forbes. Retrieved August 22, 2017.
  37. Elmer-DeWitt, Philip (August 24, 2009). "Why did Apple okay RingCentral?". Fortune. Retrieved August 22, 2017.
  38. Sean Ludwig (March 21, 2012). "RingCentral integrates with Dropbox, Box, Google to bring faxing to the cloud". VentureBeat. Retrieved August 22, 2017.
  39. Adam C. Uzialko (August 15, 2017). "The Best Online Fax Services". Business News Daily. Retrieved August 22, 2017.
  40. "Zoom is Suing RingCentral". UC Today. March 15, 2021.
  41. Arik Hesseldahl (June 19, 2015). "RingCentral Expands Beyond Phone Service With Glip Acquisition". Re/Code. Retrieved August 22, 2017.
  42. Nathan Eddy (June 19, 2015). "RingCentral Acquires Cloud Messaging Company Glip". eWeek. Retrieved August 22, 2017.
  43. Fahmida Y. Rashid (April 17, 2013). "RingCentral Explains How the Cloud Transformed VoIP". PC Magazine. Retrieved August 22, 2017.
  44. Nate Werlin (June 21, 2011). "Entrepreneur of the Year finalist: "Never run away from a fight"". VentureBeat. Retrieved August 22, 2017.
  • Official website
  • Business data for RingCentral:
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