Dan Niles Explains Why He’s Buying RingCentral Stock (RNG)
On Wednesday, August 6th, CNBC featured Dan Niles, founding partner of AlphaOne. Niles explained why he is investing in RingCentral stock (RNG). He says that he tries to find companies that will “disrupt the market with emerging new technologies” adding that RingCentral “fits the bill.”
According to Niles, the phone industry is a $75 billion industry globally. He states that there are not that many markets left that size that one can disrupt. He believes RingCentral has that ability. Niles even says that his company, AlphaOne, is switching to RingCentral, which will save the company 60% of phone costs overall.
He was most excited about our mobile app, adding that he stress-tested it while traveling through Europe. Niles believes RingCentral competitors do not match up in the business sector. He believes RingCentral is the leader in this market space right now.
Watch the full video on CNBC below.