Hi all,
Apologies if this has already been brought to the board (I thought it had, but I can’t seem to find it).
Ring Central (RING) is a cloud-based communication and collaboration provider for businesses, founded in '99 and IPO’d in 2013.
They have five major products:
RingCentral Office is a PBX system (private branch exchange- think: telephone network within a company) that provides company directory, call forwarding, handling, extensions, Business SMS, video conference, screenshare, etc
RingCentral Professional is a suite provides universal telephone number, voice mail, dial by name, call forwarding
RingCentral Fax allows users to send and receive faxes through the internet without a fax machine
RingCentral Meetings, Webinar, Rooms is their web conferencing and HD-ready virtual events with rooms
RingCentral Glip is workstream collaboration platform for teams
Their revenue has been increasing steadily over the last 4 years:
2016 - 2017: 32%
2017 - 2018: 33%
2018 - 2019: 34%
2019 - 2020: To be released Feb 8th, expected to be around 23%.
While the slowdown in revenue is to be expected with COVID, revenue from new customers is up 60% this year which is very exciting.
While it may not be financial- they have outstanding reviews on Glassdoor by employees. 93% would recommend working their to a friend, and 98% approve of their CEO.
I’ve just begun my research into RING, and while it may not be the next CRWD, I’m going to keep it on my radar.
Would love to hear any and all thoughts.
-Scott