RingCentral News: RNG Stock pops 3% on launch of Zoom Video Competitor

<p>RingCentral (NYSE: RNG) news for Thursday about new video chat application has RNG stock on Thursday.

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A RingCentral press release reveals the new video calling app. The new service is called RingCentral Video and comes packaged with the RingCentral Office suite. The introduction comes at the perfect time as more people are working from home due to coronavirus from China.

With the introduction of RingCentral Video, the company will challenge Zoom Video (NASDAQ: ZM). As the name suggests, Zoom Video also offers video chat services that help those working from home during the coronavirus pandemic.

The introduction of RingCentral Video makes it available to RingCentral Office users in the United States starting today. The company also plans to introduce the service to RingOffice users in Europe, the Middle East and Africa later in the second quarter. The rest of the world should have access to the service from Q3.

Vlad Shmunis, founder, chairman and CEO of RingCentral, said this about the new video launch that affects the RNG share.

“The world is experiencing the greatest work from home demand ever. At RingCentral, we have always focused on meeting the needs of modern, mobile and distributed workforce by delivering reliable, dependable, global and easy to buy, manage and use solutions. Today, we take the next step to deliver a seamlessly integrated, world-class MVP experience to further enhance employee productivity when working anywhere. ”

The RNG share increased by 3.2% and the ZM share decreased by 10.45% as of Thursday afternoon.

At the time of writing, William White had no position in any of the above securities.