Ring Central saw a bump in the stock price in Wall Street's response to RC's earnings report. Quarterly revenue increased 37% year-over-year to $45.3 million. Total revenue was $160.5 million for the full year of 2013, up 40% from the full year of 2012.
CEO Vlad Schmunis announced that "TELUS, a leading national telecommunications company in Canada, has selected RingCentral's cloud-based services to deliver advanced communication solutions for its business customers." RC has a similar deal with AT&T. The deal with AT&T could explain the growth of revenue and specifically the Office product.
Another announcement is RingCentral Meetings, a multi-point HD video and web conferencing product built for smartphones, tablets and PCs. I guess everyone is getting in the HD video conferencing space.
In news I missed. J2, owner of Efax, has been on an acquisition spree. J2 purchased publisher Ziff-Davis to start a digital media unit. J2 also acquired LiveDrive, a UK-based online backup company. J2's annual revenue from online backup is now $40M under Keep It Safe service.
J2 also grabbed UK's City Numbers, a provider of inbound local, national and international toll free phone numbers in more than 80 countries. I guess the toll-free number business is all well and good - and global.
We've seen 8x8's results. Pedestrian growth? NOt really. 24% year over year.
Vonage, on the other hand, has seen revenue shrink from Q1 2012: $216 million to Q3 2013: $204 million, despite assurances from the CEO and CFO that a $10 million quarterly spend would add $100 million in revenue. Annual rev for 2008 was $900 M and in 2012 it was $849 mill. Vonage only completed the acquisition of Vocalocity in November of 2013, so it won't have an affect on numbers until 1Q. Vocalocity had an annual run rate of about $55 million. (That's not $100M and it cost VG $130 million, including $105 million in cash.)
Ah, the VoIP world.