8x8

8x8, Inc.
Public
Traded as NYSE: EGHT
S&P 600 Component
Industry Cloud-based Business Communications Services
Headquarters San Jose, CA, USA
Key people
 Vikram Verma (CEO), Bryan R. Martin (Chairman & CTO), Mary Ellen Genovese (CFO)[1]
Products Cloud Communications
Unified Communications
Hosted Contact Centers
Revenue $209.3 million (FY2016)
Number of employees
 1200
Website 8x8.com

8x8 Inc. is a provider of cloud communications and customer engagement solutions. 8x8 solutions include cloud-based voice, contact center, video, mobile and unified communications for small, medium to enterprise businesses.

History

8x8 was founded in 1987 by Dr. Chi-Shin Wang and Dr. Y.W. Sing formerly of Weitek as Integrated Information Technology, Inc., or IIT. The name was changed in the early 1990s.[2] They began IIT as a fabless vendor of semiconductor products for the math coprocessor and graphics chipset markets.[3] The company produced x87 floating point coprocessor for the 286, 386 and 486 generations of microprocessors as well as graphics accelerator chips for the personal computer market during the late 1980s and early 1990s.

In 1992 the company began shipping a lossless data compression product called Xtradrive. In the early 1990s IIT began producing chips, software and other technologies for the videoconferencing market. The company changed its name to 8x8 and began marketing its own set-top videoconferencing systems for consumers under the ViaTV brand. 8x8 went public on the NASDAQ market in 1997, 8x8 moved their trading to NYSE later in 2017 trading under the ticker symbol EGHT.[4]

In January 1999, 8x8 launched a family of Voice over IP (VoIP) chips and software that were sold to IP phone, IP/PSTN gateway and other manufacturers of VoIP equipment. 8x8 acquired two companies (Odisei[5] and U|Force[6]), to acquire network/server VoIP technologies, and began selling an end-to-end VoIP services technology solution to service providers in 1999.

In 2002, the company relaunched itself as a VoIP service provider under the Packet8 brand. In 2003, it launched its first consumer videophone services on the Packet8 network. In 2004, the company became the first VoIP service provider to offer replacement, E-911 services to its subscribers.[7] It also launched a suite of business services called Packet8 Virtual Office. In July 2007, 8x8 "entered an agreement … to accept" the 200,000 customers who abruptly lost phone service when VoIP startup SunRocket was liquidated. At the time, the Washington Post described Packet8 as "the third-largest independent Internet-phone service provider with 181,000 customers."[8]

On 25 July 2002, 8x8 announced that its application for listing on the Nasdaq SmallCap Market had been approved. 8x8 retained its ticker symbol of EGHT, and began trading on the Nasdaq SmallCap Market on Friday, 26 July 2002.

On 1 September 2004, the company began selling their product at Fry's stores. 8x8 finished a series of TV commercials featuring San Francisco 49ers players.[9] In 2009, 8x8 added Unified Communications to their portfolio and a contact center solution and mobile solutions in 2011.

8x8 has been awarded 128 patents[10] related to semiconductors, computer architecture, video processing algorithms, videophones and communications technologies and security. In October 2014, 8x8 reported a customer base of more than 40,434 businesses.[11]

Acquisitions

In May 2010, 8x8 acquired Central Host, a California-based managed hosting company and began offering cloud-based hosting services.[12] In June 2011, 8x8 announced the acquisition of Zerigo, a Colorado-based cloud services company and began offering cloud servers and managed DNS services.[13] In September 2011, 8x8 acquired Contactual, a hosted contact center company. In 2013, 8x8 acquired UK-based Voicenet, a cloud services company and expanded its offering of the 8x8 portfolio of cloud communications services in the UK.[14]

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. In June 2015 8x8 acquired assets of the privately held Delray Beach, Florida based Quality Software Corp. (QSC) as well as two affiliated companies.[15]

Recognition

In August 2017, Gartner positioned 8x8 in the Leaders Quadrant of its Magic Quadrant for UCaaS (Unified Communications as a Service) for the sixth consecutive year.[16]

In May, 2015, Infonetics Research named 8x8 as the #1 cloud unified communications provider in its 2015 Cloud UC North American Service Provider Scorecard.[17]

References

  1. ↑ "8x8 company profile". finance.yahoo.com. Yahoo. Retrieved 2017-01-19.
  2. ↑ Daisy Chan, CNN Money, "Best New Gadgets", 1 December 2004
  3. ↑ McClean, Bill. Profiles 1997: A Worldwide Survey of IC Manufacturers and Suppliers , retrieved 30 July 2008
  4. ↑ "FORM 10-K". United States SECURITIES AND EXCHANGE COMMISSION. 2007. Retrieved 21 January 2009.
  5. ↑ "8x8 Completes Acquisition of IP Telephony Software Developer". Business Wire. 25 May 1999. Retrieved 21 January 2009.
  6. ↑ "NETERGY NETWORKS TO ACQUIRE UFORCE". Securities Exchange Commission. 23 May 2000. Retrieved 21 January 2009.
  7. ↑ "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.
  8. ↑ Hart, Kim (19 July 2007). "For SunRocket Customers, Sounds of Silence". The Washington Post. Retrieved 23 August 2015.
  9. ↑ "FACE-TO-FACE VOIP COMING SOON;8X8 TO OFFER VIDEOPHONES IN BAY AREA".
  10. ↑ "8x8 Issued New Conferencing and Meeting Patent by U.S. Patent and Trademark Office" (Press release).
  11. ↑ "8x8, Inc. Reports Second Quarter Fiscal 2015 Financial Results" (Press release). 22 October 2014.
  12. ↑ "8x8 Announces Acquisition of Central Host, Inc" (Press release). GlobeNewswire. 6 May 2010. Archived from the original on 11 June 2010. Retrieved 7 June 2010.
  13. ↑ "8x8 Acquires Zerigo to Broaden Portfolio of Cloud Hosting Services" (Press release). GlobeNewswire. 20 June 2011. Retrieved 20 June 2011.
  14. ↑ "8x8, Inc. Completes Acquisition of UK-Based Voicenet Solutions" (Press release). 2 December 2013.
  15. ↑ "8x8 Goes On Acquisition Spree With $170M 'War Chest'".
  16. ↑ "Magic Quadrant for Unified Communications as a Service, Worldwide".
  17. ↑ "Top Spot in IHS Infonetics' Cloud Unified Communications Scorecard Goes to 8x8 for Second Straight Year".

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