RingCentral CEO Vlad Shmunis Is Now A Billionaire After Striking Deal With Avaya [Forbes]
RingCentral, Inc. Class A (RNG)
Last ringcentral, inc. class a earnings: 2/10 04:05 pm
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Source: Forbes
RingCentral CEO Vlad Shmunis Is Now A Billionaire After Striking Deal With Avaya Ukrainian-born entrepreneur Vlad Shmunis is now a billionaire, thanks to a recent deal inked by RingCentral, his cloud-based communications company. RingCentral, based in Belmont, California, provides phone, messaging, video conferencing and other collaboration services for businesses. On October 3, RingCentral announced it would partner with Avaya, a telecommunications equipment provider, on a new cloud platform. RingCentral will pay $500 million to Avaya, including an advance of $375 million—mostly in RingCentral stock—for future payments and licensing rights as well as a $125 million investment of preferred equity for a 6% stake in Avaya. Wall Street embraced the deal, which gives RingCentral access to Avaya’s 100 million users—compared with RingCentral’s 2 million Shmunis, who serves as CEO, is now worth $1.3 billion by Forbes’ Shmunis and his family immigrated to the U.S. in the 1970s. After graduati
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- RingCentral, Inc. (NYSE: RNG) had its price target raised by analysts at Morgan Stanley from $38.00 to $40.00. They now have an "equal weight" rating on the stock.MarketBeat
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RNG
Earnings
- 11/7/24 - Beat
RNG
Sec Filings
- 12/17/24 - Form 4
- 12/13/24 - Form 144
- 12/13/24 - Form 144
- RNG's page on the SEC website