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

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 reimagine business communications. The company's vision is to provide superior solutions that meet the needs of the 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 on-premises telephone systems while delivering other critical communications capabilities.

With the advent of cloud-based communications solutions, RingCentral integrates voice, video, team messaging and collaboration, conferencing, online meetings and an integrated contact center. Today, RingCentral is a cloud communications provider used by more than 350 businesses 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.

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

Miscellanea billionaires Our people immigrants to the USA
Subscribe to ForumDaily on Google News

Do you want more important and interesting news about life in the USA and immigration to America? — support us donate! Also subscribe to our page Facebook. Select the “Priority in display” option and read us first. Also, don't forget to subscribe to our РєР ° РЅР ° Р »РІ Telegram  and Instagram- there is a lot of interesting things there. And join thousands of readers ForumDaily New York — there you will find a lot of interesting and positive information about life in the metropolis. 



 
1089 requests in 0,987 seconds.