8x8 explained

8x8, Inc.
Type:Public
Traded As:NASDAQ:
Industry:Cloud-based Business Communications Services
Brands:Jitsi
Revenue Year:2024
Income Year:2024
Net Income Year:2024
Assets Year:2024
Equity Year:2024
Num Employees:1,948
Num Employees Year:2024
Footnotes:Financials [1]
Location City:Campbell, California, U.S.[2] [3]
Locations:US, UK, Romania, Australia, Singapore, Portugal

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.

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.[6]

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. 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:

External links

Notes and References

  1. Web site: 8x8, Inc. 2024 Fiscal Annual Report (Form 10-K) . May 21, 2024 . U.S. Securities and Exchange Commission.
  2. Web site: 8x8 grabs big new HQ space in Campbell, where it's slated to become the city's largest employer .
  3. 8x8 Selects New Company Headquarters in Campbell, Calif. Amidst Rapid Growth . 8x8 . November 30, 2020 . July 18, 2019.
  4. Web site: Best New Gadgets . Daisy Chan. money.cnn.com . December 21, 2020 . December 1, 2004.
  5. Web site: Next-generation VoIP: Connecting up communications silos with the cloud. Barker. Colin. ZDNet. en. 5 November 2019.
  6. Web site: Effective Marketing of VoIP Services. www.tmcnet.com. 5 November 2019.
  7. Web site: 8x8 CEO on big ambitions, outgrowing its new HQ: 'The tide's about to hit and we are there'. bizjournals.com. 5 November 2019.
  8. Web site: FORM 10-K . 2007. . 21 January 2009.
  9. Web site: EGHT.N - 8x8, Inc. Profile. reuters.com. 5 November 2019.
  10. News: 8x8 Completes Acquisition of IP Telephony Software Developer. 25 May 1999 . Business Wire. 21 January 2009.
  11. Web site: Netergy Networks to Acquire Uforce . 23 May 2000. Securities Exchange Commission. 21 January 2009.
  12. News: Company News; Netergy Networks to Purchase Closely Held Uforce. 20 May 2000. The New York Times. 5 November 2019. en-US. 0362-4331.
  13. News: Technology Briefs. 26 May 1999. Wall Street Journal. 5 November 2019. en-US. 0099-9660. subscription.
  14. News: 8x8 changes name to Netergy Networks, focuses exclusively on voice over IP. 3 March 2000. EE Times. 13 November 2019.
  15. Web site: 8X8 Inc. SEC. 13 November 2019.
  16. Web site: 8X8, inc. 13 November 2011.
  17. 8x8 to Transfer Stock Listing to Nasdaq . . November 1, 2022.
  18. 8x8 Signs Agreement With TCS to Provide E911 Capabilities for All Packet8 Subscribers . PR Newswire . 11 October 2005 . 21 January 2008 . https://web.archive.org/web/20071014011853/http://www.ip97.com/8x8_signs_agreement_with_tcs_to_provide_e911_capabilities_for_all_packet8_bcef.aspx . 14 October 2007 . dead.
  19. News: Hart. Kim. For SunRocket Customers, Sounds of Silence. 23 August 2010. The Washington Post. 19 July 2007.
  20. Web site: Not a Lot of Change in the Gartner UCaaS Magic Quadrant 2018. 16 October 2018. UC Today. en-GB. 4 November 2019.
  21. Web site: Gartner UCaaS Magic Quadrant: The Top 12 Vendors In 2019 As AT&T, Verizon And Others Are Dropped From Report. Narcisi. Gina. 12 August 2019. CRN. 4 November 2019.
  22. Web site: Patents Assigned to 8x8, Inc. . patents.justia.com. 5 November 2019.
  23. Web site: 8x8 Acquires Cloud Call Center Provider Contactual. www.destinationcrm.com. 4 November 2019.
  24. Web site: 8x8 CEO Has a Tiger by the Tail. 7 February 2016. Insight for the Connected Enterprise. en. 4 November 2019.
  25. 8x8 Acquires MarianaIQ to Strengthen AI Capabilities for Enterprise Communications. 15 May 2018. BusinessWire. 8×8. en. 2 July 2021.
  26. Web site: Haranas . Mark . June 19, 2015 . 8x8 Goes On Acquisition Spree With $170M 'War Chest' . live . https://web.archive.org/web/20231112011702/https://www.crn.com/news/networking/300077222/8x8-goes-on-acquisition-spree-with-170m-war-chest.htm . Nov 12, 2023 . CRN.
  27. Web site: Atlassian sells Jitsi, an open-source videoconferencing tool it acquired in 2015, to 8×8. Ingrid . Lunden . October 29, 2018 . TechCrunch. en-US. 4 November 2019 . live . https://web.archive.org/web/20191104151849/http://techcrunch.com/2018/10/29/atlassian-sells-jitsi-an-open-source-videoconferencing-tool-it-acquired-in-2015-to-8x8/ . 4 November 2019 .
  28. Web site: 8x8 acquires Wavecell to expand cloud communications footprint. July 17, 2019 . Condon. Stephanie. ZDNet. en. 4 November 2019.
  29. 8x8, Inc. Reports Third Quarter Fiscal 2020 Financial Results. BusinessWire. 8x8. 4 February 2020. en. 2 July 2021 . live . https://web.archive.org/web/20210709182749/https://www.businesswire.com/news/home/20200204005958/en/8x8-Inc.-Reports-Third-Quarter-Fiscal-2020-Financial-Results . Jul 9, 2021 .

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