8x8

Last updated

8x8, Inc.
Company type Public
Nasdaq:  EGHT
IndustryCloud-based Business Communications Services
Founded1987;37 years ago (1987)
Headquarters
Campbell, California, U.S. [1] [2]
Number of locations
US, UK, Romania, Australia, Singapore, Portugal
Key people
Products
  • Cloud Communications
  • Unified Communications
  • Contact Centers
  • Communication Platforms as a Service (CPaaS)
Brands Jitsi
RevenueDecrease2.svg US$729 million (2024)
Increase Negative.svgUS$−28 million (2024)
Increase Negative.svgUS$−68 million (2024)
Total assets Decrease2.svgUS$756 million (2024)
Total equity Increase2.svgUS$102 million (2024)
Number of employees
1,948 (2024)
Website 8x8.com
Footnotes /references
Financials as of March 31,2024 [3]

8x8, Inc. is an American provider of Voice over IP products. Its products include cloud-based voice, contact center, video, mobile and unified communications for businesses. Since 2018, 8x8 manages Jitsi.

Contents

History

The company was founded in 1987 by Chi-Shin Wang and Y. W. Sing formerly of Weitek as Integrated Information Technology, Inc., or IIT. The name was changed in the mid-1990s. [4] According to the company, IIT began as an integrated circuit designer. [5] The company produced math coprocessors for x86 microprocessors, as well as Graphics accelerator cards for the personal computer market during the late 1980s. The company later changed its name to 8x8, and began producing products for the videoconferencing market. [5] [6] [ citation needed ]

8x8 went public on the NASDAQ market in 1997. [7] The company moved their trading to NYSE in 2017, under the ticker symbol EGHT. [8] [9] In 1999, 8x8 acquired two companies, Odisei [10] and U|Force, [11] to acquire network and server VoIP technologies. [12] [13]

In March 2000, 8x8 relaunched itself as a VoIP service provider under the name Netergy Networks. [14] The company changed its name back to 8x8 in July 2001. [15] 8x8 began trading on the Nasdaq SmallCap Market on 26 July 2002. [16] The company's stock was listed on the New York Stock Exchange for a time before switching back to Nasdaq in November 2022. [17]

In 2003, the company launched a videophone service. [18] In July 2007, after startup SunRocket was liquidated, 8x8 entered an agreement to accept 200,000 of its customers. [19]

Gartner has listed 8x8 several times as a Leader for UCaaS (Unified Communications as a Service) within its Gartner Magic Quadrant, a series of technology market reports. [20] [21] 8x8 has been awarded 128 patents related to semiconductors, computer architecture, video processing algorithms, videophones and communications technologies and security. [22]

In 2018, the company acquired Jitsi and Jitsi Meet.

Acquisitions

In May 2010, 8x8 acquired Central Host, a California-based managed hosting company. [23] In June 2011, the company announced the acquisition of Zerigo, a Colorado-based cloud services company. [23] In September 2011, 8x8 acquired Contactual, a hosted contact center company. In 2013, it acquired United Kingdom-based Voicenet, another cloud services company. [24]

In May 2015 8x8 acquired privately held UK-based DXI Ltd., a cloud-based contact center solutions vendor for $26 million in cash and stock. The same month, 8x8 announced the acquisition of MarianaIQ (MIQ), to transform both employee and customer experience. [25] The following month, the company acquired assets of the privately held Quality Software Corp. (QSC) as well as two affiliated companies. [26]

In October 2018, 8x8 acquired Jitsi, an open source tool for chat and video conferencing, from Atlassian. [27]

In July 2019, it acquired Wavecell, a CPaaS (communications platform as a service) provider headquartered in Singapore. [28]

In Jan 2020, 8x8 acquired the Finnish startup, callstats.io, a SaaS call quality monitoring service that measures call quality in WebRTC apps. [29]

See also

8x8 has a number of notable competitors in the market:

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References

  1. ↑ "8x8 grabs big new HQ space in Campbell, where it's slated to become the city's largest employer".
  2. ↑ "8x8 Selects New Company Headquarters in Campbell, Calif. Amidst Rapid Growth". 8x8 (Press release). 18 July 2019. Retrieved 30 November 2020.
  3. ↑ "8x8, Inc. 2024 Fiscal Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. 21 May 2024.
  4. ↑ Daisy Chan (1 December 2004). "Best New Gadgets". money.cnn.com. Retrieved 21 December 2020.
  5. 1 2 Barker, Colin. "Next-generation VoIP: Connecting up communications silos with the cloud". ZDNet. Retrieved 5 November 2019.
  6. ↑ "Effective Marketing of VoIP Services". www.tmcnet.com. Retrieved 5 November 2019.
  7. ↑ "8x8 CEO on big ambitions, outgrowing its new HQ: 'The tide's about to hit and we are there'". bizjournals.com. Retrieved 5 November 2019.
  8. ↑ "FORM 10-K". Securities and Exchange Commission. 2007. Retrieved 21 January 2009.
  9. ↑ "EGHT.N - 8x8, Inc. Profile". reuters.com. Retrieved 5 November 2019.
  10. ↑ "8x8 Completes Acquisition of IP Telephony Software Developer". Business Wire. 25 May 1999. Retrieved 21 January 2009.
  11. ↑ "Netergy Networks to Acquire Uforce". Securities Exchange Commission. 23 May 2000. Retrieved 21 January 2009.
  12. ↑ "Company News; Netergy Networks to Purchase Closely Held Uforce". The New York Times. 20 May 2000. ISSN   0362-4331 . Retrieved 5 November 2019.
  13. ↑ "Technology Briefs" . Wall Street Journal. 26 May 1999. ISSN   0099-9660 . Retrieved 5 November 2019.
  14. ↑ "8x8 changes name to Netergy Networks, focuses exclusively on voice over IP". EE Times. 3 March 2000. Retrieved 13 November 2019.
  15. ↑ "8X8 Inc" (PDF). SEC. Retrieved 13 November 2019.
  16. ↑ "8X8, inc" (PDF). Retrieved 13 November 2011.
  17. ↑ "8x8 to Transfer Stock Listing to Nasdaq" (Press release). Business Wire. 1 November 2022.
  18. ↑ "8x8 Signs Agreement With TCS to Provide E911 Capabilities for All Packet8 Subscribers" (Press release). PR Newswire. 11 October 2005. Archived from the original on 14 October 2007. Retrieved 21 January 2008.
  19. ↑ Hart, Kim (19 July 2007). "For SunRocket Customers, Sounds of Silence". The Washington Post. Retrieved 23 August 2010.
  20. ↑ "Not a Lot of Change in the Gartner UCaaS Magic Quadrant 2018". UC Today. 16 October 2018. Retrieved 4 November 2019.
  21. ↑ Narcisi, Gina (12 August 2019). "Gartner UCaaS Magic Quadrant: The Top 12 Vendors In 2019 As AT&T, Verizon And Others Are Dropped From Report". CRN. Retrieved 4 November 2019.
  22. ↑ "Patents Assigned to 8x8, Inc". patents.justia.com. Retrieved 5 November 2019.
  23. 1 2 "8x8 Acquires Cloud Call Center Provider Contactual". www.destinationcrm.com. Retrieved 4 November 2019.
  24. ↑ "8x8 CEO Has a Tiger by the Tail". Insight for the Connected Enterprise. 7 February 2016. Retrieved 4 November 2019.
  25. ↑ "8x8 Acquires MarianaIQ to Strengthen AI Capabilities for Enterprise Communications". BusinessWire (Press release). 8×8. 15 May 2018. Retrieved 2 July 2021.
  26. ↑ Haranas, Mark (19 June 2015). "8x8 Goes On Acquisition Spree With $170M 'War Chest'". CRN. Archived from the original on 12 November 2023.
  27. ↑ Lunden, Ingrid (29 October 2018). "Atlassian sells Jitsi, an open-source videoconferencing tool it acquired in 2015, to 8×8". TechCrunch. Archived from the original on 4 November 2019. Retrieved 4 November 2019.
  28. ↑ Condon, Stephanie (17 July 2019). "8x8 acquires Wavecell to expand cloud communications footprint". ZDNet. Retrieved 4 November 2019.
  29. ↑ "8x8, Inc. Reports Third Quarter Fiscal 2020 Financial Results". BusinessWire (Press release). 8x8. 4 February 2020. Archived from the original on 9 July 2021. Retrieved 2 July 2021.
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