Company type | Public |
---|---|
Founded | August 1990 |
Founder | Howard Jonas |
Headquarters | Newark, New Jersey, U.S. |
Key people |
|
Products | |
Services | |
Revenue | US$1.24 billion (2023) |
US$60.7 million (2023) | |
US$40.5 million (2023) | |
Total assets | US$511 million (2023) |
Total equity | US$200 million (2023) |
Number of employees | 1,890 (2023) |
Website | idt |
Footnotes /references Financials as of July 31,2023 [update] . [1] |
IDT Corporation [2] [3] (originally standing for International Discount Telecommunications) is a multinational provider of cloud communications, point of sale systems, unified communications, and financial services foreign exchange services for selected clients. It has units dedicated for businesses and consumers such as the Boss Revolution pre-paid phone cards, headquartered in Newark, New Jersey. [1]
IDT's first service was callback , [4] which was based on the idea that "it costs two and three times as much to call from overseas as it does the other way." [5] [2]
IDT was founded by entrepreneur Howard Jonas in August 1990. He founded the company after opening a sales office in Israel, receiving large international phone bills and then discovering a way to lower them by re-originating calls in the United States. [2]
In 1996, IDT founded Net2Phone, the world's fourth-largest VoIP provider (2017), [6] and sold 32% of Net2Phone in August 2000 to AT&T for $1.1 billion in cash. [7] [8] That same year, IDT became a public company via an initial public offering. [9]
IDT operated a wireless MVNO, TúYo Mobile on the T-Mobile network. It was terminated on May 1, 2012. [19] On July 31, 2013, IDT spun off Straight Path, a communications asset company holding 39 GHz (millimeter wave) nationwide spectrum and on average, 800 MHz of bandwidth in top 30 US markets. [20] In October 2014, IDT sold Fabrix Systems, an Israel-based software company that developed and licenses a proprietary cloud based storage and computing platform, to Ericsson. [21]
In February 2015 the company announced it had reached an agreement with Empresa de Telecomunicaciones de Cuba S.A. (ETECSA), Cuba's national telecom provider, for international long distance telephony between the United States and Cuba directly. [22]
In January 2017, Net2Phone, subsidiary of IDT Corporation, acquired LiveNinja, a Miami-based messaging and live chat technology startup. LiveNinja's messaging technology is being integrated into its new product now in development. Leveraging LiveNinja's technology, net2phone will offer a multi-channel platform for small and medium-sized enterprises that spans phone, messaging, SMS and web chat. [23]
On 24 January 2018, IDT began a pilot test on using Ripple's native cryptocurrency. [24] The aim to simplify cross border payments, in order to free up billions held in foreign Vostro accounts. [25]
In March 2018, IDT completed its spinoff of Rafael Holdings with IDT founder Howard Jonas serving as chairman of the board and chief executive officer [26] Rafael Holdings holds commercial real estate assets and interests in two clinical stage, oncology focused pharmaceutical companies. The pharmaceutical holdings consist of interests in Rafael Pharmaceuticals, Inc. and a majority stake in Lipomedix Pharmaceuticals Ltd., both of which are focused on development and commercialisation of drugs in the oncology space. [27]
On April 20, 2020, during the COVID-19 pandemic, IDT Corporation applied for and received a loan of US$10 million as part of the Paycheck Protection Program. On April 26, 2020, due to criticism of large companies who were accessing the loan program intended to help small businesses, IDT announced that they would return the loan. [28] [29] [30]
In 2015, IDT launched National Retail Solutions (NRS). [32] NRS is a point-of-sale company that is the provider of touch-screen point-of-sale (POS) systems, which offers a customer-facing screen as well as payment and transaction processing services.
In 2009, IDT introduced Boss Revolution, a PIN-less international prepaid calling service. [33] Boss Revolution PIN-less allows smartphone users to make single touch international calls. Since its introduction, Boss Revolution and other PIN-less providers have largely supplanted the traditional prepaid international calling card industry. IDT subsequently announced initiatives to add various payment services to the Boss Revolution Platform, including international money transfer. [34]
IDT inaugurated a service of low cost international calling called PennyTalk.
"IDT first offered dial-up services in 1994." [35] They subsequently expanded to offer dedicated Internet access lines. [36] By 1999 this ISP [3] [37] also became "one of the nation's first pre-paid bilingual Internet services." [35]
KPN is a Dutch telecommunications company. KPN originated from a government-run postal, telegraph and telephone service and is based in Rotterdam, Netherlands.
PMC-Sierra was a global fabless semiconductor company with offices worldwide that developed and sold semiconductor devices into the storage, communications, optical networking, printing, and embedded computing marketplaces.
Altafiber, Inc., formerly Cincinnati Bell, is a regional telecommunications service provider based in Cincinnati, Ohio, United States. It provides landline telephone, fiber-optic Internet, and IPTV services through its subsidiaries Altafiber Home Phone and Hawaiian Telcom, which are the incumbent local exchange carriers for the Greater Cincinnati metropolitan area and Hawaii. Other subsidiaries provide enterprise information technology services and long distance calling.
Sabre Corporation is a travel technology company based in Southlake, Texas. It is the largest global distribution systems provider for air bookings in North America. American Airlines founded the company in 1960, and it was spun off in 2000.
SK Group is a South Korean multinational manufacturing and services conglomerate headquartered in Seoul. A chaebol, SK Group is second largest such conglomerate by revenue in South Korea, after Samsung Group. Through a number of subsidiaries, it is engaged in various businesses, including manufacture of chemicals and petrochemicals, semiconductors, flash memory and miscellaneous information technology, as well providing telecommunications services worldwide among its other less notable ventures.
Globe Telecom, Inc., commonly shortened as Globe, is a major provider of telecommunications services in the Philippines. The company operates the largest mobile network in the Philippines and one of the largest fixed-line and broadband networks. As of November 2023, Globe has 54.7 million subscribers, making it the second largest network in terms of subscriber base.
net2phone is a Cloud Communications provider offering cloud based telephony services to businesses worldwide. The company is a subsidiary of IDT Corporation.
Sprint Corporation was an American telecommunications company. Before being acquired by T-Mobile US on April 1, 2020, it was the fourth-largest mobile network operator in the United States, serving 54.3 million customers as of June 30, 2019. The company also offered wireless voice, messaging, and broadband services through its various subsidiaries under the Boost Mobile and Open Mobile brands and wholesale access to its wireless networks to mobile virtual network operators.
Altice Portugal S.A. is the largest telecommunications service provider in Portugal. Since June 2, 2015, the company has been a wholly owned subsidiary of Altice, a multinational cable and telecommunications company with a presence in France, Israel, Belgium, Luxembourg, Portugal, French West Indies/Indian Ocean Area, the Dominican Republic, and Switzerland. The assets in Portugal were sold to Altice in 2015 per request of Oi SA to reduce debt. The African assets were mostly sold for the same reason. Portugal Telecom, SGPS SA was split in separate companies: PT Portugal and Pharol, which owns a 27,5% stake in Oi.
Howard S. Jonas is a businessman and telecom entrepreneur and the founder of IDT Corporation and Genie Energy.
Windstream Holdings, Inc., also doing business as Windstream Communications or Windstream, is a provider of voice and data network communications, and managed services, to businesses in the United States. The company also offers residential broadband, phone and digital streaming TV services to consumers within its coverage area. It is the ninth largest residential telephone provider in the country with service covering more than 8.1 million people in 21 states.
RCN Corporation, originally Residential Communications Network, founded in 1993 and based in Princeton, New Jersey, was the first American facilities-based ("overbuild") provider of bundled cable telephony, cable television, and internet service delivered over its own hybrid fiber-coaxial local network as well as dialup and DSL Internet service to consumers in the Boston, Chicago, Los Angeles, New York City, the Lehigh Valley in eastern Pennsylvania, and Washington, D.C. areas.
Starz Distribution, formerly IDT Entertainment and Starz Media is the distribution arm of Starz Inc., a subsidiary of Lionsgate, established in 2003. It develops, produces and acquires original programming content branded as Starz Originals, feature films and other audiovisual programming for distribution across television, home video and streaming media.
IDT Spectrum, a subsidiary of IDT Corporation, holds and leases fixed wireless spectrum.
Worldpay, Inc. is an American payment processing company and technology provider. In February 2024, it was separated from Fidelity National Information Services (FIS) to become an independent company once again. It is majority owned by private equity firm GTCR. It is headquartered in the greater Cincinnati, Ohio area. Worldpay, Inc., is the largest U.S. merchant acquirer ranked by general-purpose transaction volume.
Genie Energy Ltd. is an American energy company headquartered in Newark, New Jersey. It is a holding company comprising Genie Retail Energy, Genie Retail Energy International, Genie Energy Services, and Genie Energy Oil and Gas. Michael Stein is the Chief Executive Officer, Genie Energy Ltd.
TruConnect, formally known as TruConnect Mobile, is an American mobile virtual network operator (MVNO) that sells mobile hotspots and smartphones, 3G/4G LTE mobile data plans and prepaid cell phone talk & text plans on T-Mobile’s network. TruConnect was the first prepaid broadband provider in the U.S. to offer a pay-as-you-go, portable Wi-Fi service plans. The only Lifeline provider (ETC) headquartered in Los Angeles, CA. TruConnect uses either Sprint or T-Mobile's network depending on location.
Elie Y. Katz is an American politician and businessman. He served as the Mayor of Teaneck, New Jersey from 2006 to 2008.
National Retail Solutions is a point-of-sale company. The company is the provider of touch-screen point-of-sale (POS) systems that offers a customer-facing screen as well as payment and transaction processing services. NRS is a division of IDT Corporation and the company's headquarters are in Newark, New Jersey. The company also provides an NRS Pay credit card processing for various independent stores.
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has generic name (help)CS1 maint: multiple names: authors list (link)Within the U.S., IDT provides dedicated and dial-up Internet access services to approximately 80,000 retail customers.