Avaya (NYSE:AVYA) and RingCentral Inc. (NYSE:RNG) today announced a wide range of new capabilities for the Avaya Cloud Office™ by RingCentral® Unified Communications as a Service (UCaaS) solution, including many Avaya device-specific enhancements providing easy migration, additional video and global expansion features extending the ability for customers to connect across any device and work environment.
Shares of RingCentral (NYSE: RNG) tumbled 17.7% in May, according to data provided by S&P Global Market Intelligence, as the cloud-based workplace communication and collaboration platform looks to be having difficulty shedding the image that it's more than just a pandemic play. Much like Zoom Video Communications (NASDAQ: ZM), with which it partners (but is increasingly becoming a competitor to), RingCentral's business boomed during the COVID-19 outbreak as many employees were forced to work from home and use cloud-based video and teleconferencing technology.
Zoom’s quarterly revenue has soared six times since its prepandemic peak. But the coming year brings all-new challenges.