RingCentral Files For $100 Million IPO
Cloud communications company RingCentral threw its hat into the Wall Street ring Monday when it announced it has filed paperwork for an inital public offering worth $100 million, according to a filing with the Securities and Exchange Commission.
The 14-year-old company is based in San Mateo, Calif., and boasts 1,200 employees. The company applied for listing its Class A common stock under the symbol "RNG." Wall Street heavyweights Goldman Sachs, J.P. Morgan and Merrill Lynch are listed as underwriters in the filing.
RingCentral has seen its revenue increase from $50.2 million in 2010 to $114.5 million in 2012. However, it has yet to make a profit.