8x8 Named to NASDAQ Global Select Market
February 11, 2013
By Amanda Ciccatelli
, TMCnet Web Editor
Years ago, 8x8 (News - Alert) Inc., the well known provider of cloud communications and cloud computing solutions, got its unique name from the number of video pixels that are used as the basic building blocks in image compression and video transformation functions. This isn’t surprising considering the company has contributed majorly to the advancement of voice and video communications.
These days, 8x8 is focusing its energy on providing reliable business solutions to its customers that are easy- to-use, advanced and less expensive than traditional solutions. The company provides a variety of call center services including VoIP phone service, hosted solutions, video conferencing, and unified communications (UC).
All of the company’s hard work and innovative developments have paid off because its common stock has been transferred to the NASDAQ Global Select Market, the highest of the three market tiers at NASDAQ. The NASDAQ Global Select Market has the highest initial listing standards of any exchange in the world, with measures including market value, liquidity and earnings.
Today, 8x8 empowers business conversations for over 30,000 small and medium-sized businesses (SMBS) with cloud communications services that include a hosted PBX (News - Alert) phone service, unified communications, call center software and video conferencing solutions.
This prestigious listing on the NASDAQ Global Select Market is reserved only for companies that meet quantitative and qualitative standards that reflect commitments to leadership and good governance. Before the change, 8x8 was listed on the NASDAQ Capital Market.
"We're proud to have met the stringent financial and corporate governance standards that qualify us for the NASDAQ Global Select Market," said 8x8 Chairman & CEO Bryan Martin (News - Alert), in a statement.
The inventor of the electronic exchange, NASDAQ, fuels economies and provides transformative technologies for the whole lifecycle of a trade - from risk management to trade to surveillance to clearing. In the U.S. and Europe, NASDAQ owns and operated 23 markets, three clearinghouses and five central securities depositories supporting equities, options, fixed income, derivatives, commodities, futures and structured products.
"This recognition validates our financial strength, sound management and long term potential for sustainable growth,” Martin continued. “We remain sharply focused on building value for shareholders by executing on our strategy of developing and delivering industry-leading cloud communications services to small and midsized businesses."
Since 2004, the company has been continuously delivering business communications services and has earned a reputation for technical excellence and outstanding reliability. In fact, back in 2012 8x8 was recognized in the "Leaders" quadrant of Gartner's 2012 Magic Quadrant for Unified Communications as a Service and was named as the No. 1 Provider of Hosted IP Telephony by Frost & Sullivan (News - Alert).
Edited by Jamie Epstein