SAN MATEO, Calif.--(BUSINESS WIRE)--
RingCentral,
Inc. (NYSE: RNG), a leading
cloud business communications provider, today announced that its
stock has been selected for addition to the U.S. Russell 2000®,
Russell 3000® and Russell Global Indexes, effective after the
market close on December 20, 2013 as part of Russell Investments’
quarterly addition of select initial public offering (IPO) companies.
“We are pleased to be added to the Russell Global indexes, which follows
the successful listing of our common stock on the NYSE in September 2013
and strong third quarter results,” said RingCentral CEO, Vlad Shmunis.
“This will increase our exposure to the investment community around the
world and provide us with the opportunity to expand our shareholder
base.”
The Russell 2000® Index measures the performance of the
small-cap segment of the U.S. equity market and is a subset of the
Russell 3000®, representing approximately 10 percent of the
total market capitalization of that index. Membership in the Russell 2000®
Index includes automatic inclusion in the appropriate growth and style
indexes. Russell determines membership for its equity indexes primarily
by objective, market-capitalization rankings and style attributes. The
Russell 3000® also serves as the U.S. component to the
Russell Global Index, which Russell launched in 2007.
Russell indexes are widely used by investment managers and institutional
investors for index funds and as benchmarks for both passive and active
investment strategies. Approximately $4.1 trillion in assets currently
are benchmarked to them.
About RingCentral
RingCentral,
Inc. (NYSE: RNG) is a leading provider of cloud business
communications solutions. Easier to manage and more flexible than
on-premise communications systems, RingCentral's cloud solution meets
the needs of modern distributed and mobile workforces, while eliminating
the expense of on-premise hardware and software. RingCentral is
headquartered in San Mateo, California.
Investor Relations Contact:
ICR for RingCentral
Greg
Kleiner, 650-581-9443
ir@ringcentral.com
or
Media
Contact:
Evelin Goldstein, 650-516-4104
evelin.goldstein@ringcentral.com
Source: RingCentral, Inc.