RingCentral Inc., which specializes in cloud business communications platforms, plans to go public.
The San Mateo, Calif.-based company on Monday filed its registration statement with the U.S. Securities and Exchange Commission. The filing cited typical investment risks including "significant losses," reliance on third parties for network connectivity and data center operations, potential service interruptions, and threats of IP infringement.
On the flip side, RingCentral pointed to a growth strategy that focuses on larger customers, international scale, and the expansion of its distribution channels. To date, the company says its resellers total more than 1,000 and include AT&T.
"We intend to continue to foster these relationships and to develop additional relationships with other resellers," RingCentral said in its SEC filing.
RingCentral has not laid out the number of shares it will offer, or the price range for those shares. For now, the company is taking the initial steps toward its IPO, listing all of the downsides and advantages to its business model. Read the S-1 here.
Goldman, Sachs & Co., J.P. Morgan Securities LLC and BofA Merrill Lynch are acting as joint book-running managers for the proposed offering, while Allen & Company LLC and Raymond James are acting as co-managers.