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RingCentral Delivers a Hot-Shot IPO

By Craig Galbraith
September 27, 2013 - News

Cloud business communications solutions provider RingCentral got off to a red-hot start on its first day as a publicly traded company.

The company's initial public offering on the New York Stock Exchange was $13 per share. By 2:25 p.m. ET, it had shot up more than 43 percent, to $18.60. No doubt raising more than 97 million dollars for the IPO helped get things started off right for San Mateo, Calif.-based RingCentral.

RingCentral says its cloud solutions free people to work the way they want in today's mobile world. The company, which sells through channel partners, claims to help more than 300,000 customers "thrive in a new world of work."

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