RingCentral Files For $100 Million IPO
RingCentral, a VoIP provider and cloud-based telephone systems company, filed a $100 million initial public offering (IPO) according to a recently filed S-1.
The company’s S-1 registration statement says the number of shares to be offered and their price range have yet to be released publicly.
RingCentral points out that its revenues have increased steadily each year, with total revenue of $50.2 million in 2010, $78.9 million in 2011, and $114.5 million in 2012. Yet the company has yet to be profitable.
RingCentral incurred net losses of $7.3 million, $13.9 million, and $35.4 million, in 2010, 2011, and 2012.
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