RingCentral Added to Membership of Russell 2000Ⓡ, 3000Ⓡ and Global Indexes.
San Mateo, Calif. – January 14, 2014 – 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.
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:
Bob Lawson, RingCentral
Greg Kleiner, ICR for RingCentral
For Additonal Information,
Evelin Goldstein 650-516-4104