RingCentral’s President: We’re Investing Heavily in Video

Like some other publicly-traded companies offering cloud-based communications services, RingCentral  (RNG) – Get Report has had a pretty good year.

RingCentral, a top provider of unified communications-as-a-service (UCaaS) solutions that deliver voice, video and messaging services via cloud data centers, has seen its stock rise 63% this year. That leaves shares up more than 10-fold over the last four years.

The company’s revenue grew 32% annually during the first half of 2020 to $500.1 million, with annualized recurring revenue (ARR) up 33% at the end of June to $1.1 billion. And thanks in part to soaring remote work activity, RingCentral saw video and mobile voice minutes on its platform more than double sequentially in Q2.

I recently talked with Anand Eswaran, RingCentral’s President/COO and formerly a senior Microsoft and SAP exec. The interview followed a February discussion with RingCentral CFO Mitesh Dhruv. Here are Eswaran’s comments on several topics related to his company, slightly edited for clarity.

Where RingCentral is currently directing its R&D investments.

Eswaran: “We’re accelerating [R&D spending] across many different things….Obviously, we have our differentiated MVP (message, video, phone) platform. So we are further investing in phone to widen the moat we already have…focusing on enterprise depth and vertical use cases. So [we’re] further differentiating the phone moat we have.”

Source Article

Author: [email protected]_84