The article has been automatically translated into English by Google Translate from Russian and has not been edited.
Переклад цього матеріалу українською мовою з російської було автоматично здійснено сервісом Google Translate, без подальшого редагування тексту.
Bu məqalə Google Translate servisi vasitəsi ilə avtomatik olaraq rus dilindən azərbaycan dilinə tərcümə olunmuşdur. Bundan sonra mətn redaktə edilməmişdir.

Good deal: how an immigrant from Odessa became a billionaire in the USA

We are talking about a native of Ukraine, Vlad Shmunis, who moved to the United States with his family in the 1970's. He became a dollar billionaire thanks to the transaction of his startup RingCentral with the American company Avaya.

Photo Shoot: ringcentral.com

A native of Odessa, entrepreneur Vlad Shmunis became a dollar billionaire thanks to a recent deal made by his company RingCentral, Forbes reports. RingCentral is based in Belmont, California, and provides companies with corporate services related to telephone, messaging, video conferencing, etc., writes RBC.

As said on official website, “Vlad Shmunis founded RingCentral with the goal of harnessing the power of cloud technology to rethink business communications. The company's vision is to provide first-class solutions that meet the needs of a rapidly changing business environment. RingCentral enables today's workforce to communicate, collaborate and connect from anywhere, on any device, using any form of communication. The focus is on providing flexible and cost-effective solutions that disrupt the business of legacy local telephone systems while providing other critical communications capabilities.

With the advent of cloud-based communications solutions, RingCentral brings together voice, video, team messaging and collaboration, conferencing, online meeting and an integrated contact center. Today RingCentral is a cloud communications provider used by over 350 companies worldwide. ”

On the subject: Wander Way: the success story of the first Ukrainian startup to receive a business Oscar

On October 3, RingCentral announced it would partner with Avaya, a telecommunications equipment provider, on a new cloud platform. Under the terms of the deal, RingCentral will pay Avaya $ 500 million, including an advance of $ 375 million, as well as an investment in preferred shares of $ 125 million. The deal will give RingCentral access to Avaya’s 100 million (compared to 2 million RingCentral) and help pay off significant debt.

Following the announcement of the deal, RingCentral shares rose 28% and continue to rise. The company's market capitalization already exceeds $ 14 billion, the newspaper writes.

According to Forbes, the fortune of Shmunis, who holds the position of CEO of RingCentral, is now valued at $ 1,3 billion. The status of his partner, Vlad Vendrova, a graduate of a university in St. Petersburg, the magazine estimated at $ 600 million. RingCentral declined to comment.

Schmunis and his family immigrated to the United States in the 1970's. After graduating from California State University in San Francisco with a master's degree in computer science, he got an engineer job at one of Silicon Valley startups. Before launching RingCentral, Schmunis founded Ring Zero Systems, a corporate communications software company, in 1992.

On the subject: From a consultant to a successful startup: how a Ukrainian businessman abandoned everything and left to conquer America

The startup offered computer manufacturers an application for the Windows system, which served as a switch - received and delivered calls and voicemail. Ring Zero was eventually acquired by Motorola in 1998 for an unknown amount. In 1999, Schmunis launched RingCentral along with Vendrov, who was previously an engineer at Ring Zero and Motorola.

Miscellaneous billionaires Our people immigrants to the USA

Read also on ForumDaily:

The American Dream or Bankruptcy: Difficulties of U.S. Immigrant Entrepreneurs

Suffers losses: over the years of the presidency, Trump fell to 119 positions in the Forbes list

6 of things that Bill Gates, Jeff Bezos and other successful people do on weekends

From a consultant to a successful startup: how a Ukrainian businessman abandoned everything and left to conquer America

Let's face the crisis together and support each other

Thank you for staying with us and trusting! Over the past 5 years, we have received a lot of grateful feedback from readers, whom our materials have helped to arrange life after moving to the USA. We have big plans, we don't want to stop or slow down the pace of work. Even now…

The COVID-19 pandemic has negatively affected our income, and in order to stay afloat, we have to ask YOU for support. We will be grateful for any amount and will make every effort to continue to publish news and a lot of useful information just as quickly.

Thank you for being with us!

Always yours, ForumDaily! WomanForumDaily, NewYork, ForumDaily!

Security of contributions is guaranteed by the use of the highly secure Stripe system.

Do you want more important and interesting news about life in the USA and immigration to America? Subscribe to our page in Facebook. Choose the "Display Priority" option and read us first. And don't forget to subscribe to ForumDaily Woman and ForumDaily New York - there you will find a lot of interesting and positive information.



1048 requests in 2,076 seconds.