Bandwidth Inc.
 | |
| Company type | Public |
|---|---|
| Nasdaq: BAND Russell 2000 Index company | |
| Founded | 1999 |
| Headquarters | Raleigh, North Carolina, US |
Key people | David Morken (CEO) |
| Products | |
Number of employees | 700+[1] |
| Website | www |
Bandwidth Inc. is a communications platform as a service company. It sells software application programming interfaces (or APIs) for voice, text messaging and emergency services, using its own global IP voice network.
History
[edit]Bandwidth was formed in 1999 by David Morken who was later joined by Henry Kaestner as co-founder in 2001, merging Bandwidth International into Bandwidth.com.[2]
In Aug. 2023, Bandwidth moved to a new, purpose-built 40-acre headquarters campus at 2230 Bandmate Way in Raleigh, where the company maintains a workforce of about 1,000 employees as of Aug. 2023.[3]
On November 10, 2017, the company had an initial public offering on the NASDAQ which raised $80 million in capital by selling 4 million $20 shares.[4][5]
On January 11, Bandwidth terminated its incentive agreement with the state of North Carolina, which required creating over 1,100 local jobs, citing the need for more hiring flexibility outside of Raleigh.[6]
Bandwidth has been noted for its unusual approach of incorporating Christian religion in business, including starting meetings with Christian prayers.[7]
Acquisitions
[edit]On October 12, 2020, Bandwidth announced it had signed a definitive agreement to acquire Voxbone for an enterprise value of €446 million EUR.[8][9]
Partnership
[edit]In August 2020, Bandwidth announced it had partnered with NC State University for a study that which ran from February 2019 to January 2020 to study fraudulent traffic patterns associated with robocalling.[10]
See also
[edit]References
[edit]- ^ "David Morken's faith in fiber grows Raleigh-based Bandwidth". July 2019.
- ^ "Bandwidth co-founder steps down".
- ^ "Bandwidth Opens New Global Headquarters (CBS-17)". August 2023.
- ^ "Overview". www.nasdaq.com.
- ^ "Bandwidth stock up 5% after IPO".
- ^ AP (2024-01-23). "North Carolina technology company Bandwidth leaves incentive agreement with the state". Winston-Salem Journal. Retrieved 2024-01-24.
- ^ "Raleigh's Bandwidth was built for God. But the tech company hasn't been for everyone". The News & Observer. 2024-08-06. Retrieved 2024-08-06.
- ^ "Bandwidth to Acquire Voxbone".
- ^ "Bandwidth to Acquire Voxbone, Propel Global Expansion".
- ^ "Tired of robocalls? NC State, Bandwidth team up in search of solutionsl".
External links
[edit]- Cloud communication platforms
- Software companies of the United States
- VoIP companies of the United States
- Companies listed on the Nasdaq
- 2017 initial public offerings
- Companies based in Raleigh, North Carolina
- Publicly traded companies of the United States
- Technology companies of the United States
- 1999 establishments in North Carolina
- Information technology companies of the United States
- American companies established in 1999
- Software companies based in North Carolina
- Software companies established in 1999