RingCentral Files For $100M IPO
In the IPO filing overview the company writes:
We believe that there is a significant opportunity to leverage the benefits of cloud computing to provide next-generation, cloud-based business communications solutions that address the new realities of workforce mobility, multi-device environments and multi-channel communications, thereby enabling people to communicate the way they do business.
The company offers cloud based phone and communication systems.
Founded back in 1999, San Mateo, Calif.-based RingCentral says it saw income of $50.2 thousand truly, $78.9mm this year, and $114.5mm this year. However, it’s also suffering from increasing failures, with net failures of $7.3mm, $13.9 thousand, and $35.4mm respectively.
RingCentral brought up about $44mm in value funding. CEO and creator Vladimir Shmumis continues to be the biggest investor, with 19.6 % of the business’s stock, followed by traders Sequoia Capital and Khosla Projects, which have 17.2 % and 16.7 %, respectively.