RingCentral Case Study | Positioning the right IPO

A Race to Go Public

Merritt Group helped RingCentral prepare for their imminent IPO in just a few weeks.  From messaging and positioning work to strategic media relations – Merritt played an integral role in establishing RingCentral’s credibility with press, investors and other key audiences. As a result, RingCentral’s stock soared and closed up 40% after the first day of trading.

Client Description

RingCentral is a leading provider of cloud business communications solutions. Easier to manage and more flexible than on-premise communications phone systems, RingCentral’s cloud solution meets the needs of modern distributed and mobile workforces, while eliminating the expense and complications of on-premise traditional hardware-based systems and software.

Problem

RingCentral wanted to make a major media splash on IPO day. With plans to go public just weeks away, RingCentral sought to quickly transition from their current PR/marketing firm to a partner with proven IPO experience and strong business press relationships. In addition to an aggressive preparation timeline, RingCentral would be going public during a crowded IPO timeframe, where multiple companies were anticipated to announce within a days or weeks from each other.

Solution

Merritt was brought on board and quickly went to work conducting intensive messaging and media training sessions. Merritt helped the company reposition itself and shift and elevate messaging to take advantage of cloud, mobile and BYOD market opportunities. With the right messages in place, Merritt conducted a full-court media blitz to ensure top coverage on IPO day. To do so, Merritt coordinated closely with NYSE and secured an aggressive schedule of interviews for RingCentral’s CEO with outlets such as CNBC, Wall Street Journal, Forbes, MarketWatch, Barron’s, Investor’s Business Daily, and more. Not only did RingCentral’s IPO overshadow a second that same day, but the new messaging pulled through in the coverage and resonated with reporters and the street.  The RingCentral’s stock soared and closed 40% up after the first day of trading.