Bandwidth Inc.

Bandwidth Inc.
Company type
Public
Nasdaq: BAND
Russell 2000 Index company
Founded1999; 27 years ago (1999)
HeadquartersRaleigh, North Carolina, US
Key people
David Morken (CEO)
Products
Number of employees
700+[1]
Websitewww.bandwidth.com

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

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, 2024, 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

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

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

References

  1. ^ "David Morken's faith in fiber grows Raleigh-based Bandwidth". July 2019.
  2. ^ "Bandwidth co-founder steps down".
  3. ^ "Bandwidth Opens New Global Headquarters (CBS-17)". August 2023.
  4. ^ "Overview". www.nasdaq.com.
  5. ^ "Bandwidth stock up 5% after IPO".
  6. ^ AP (2024-01-23). "North Carolina technology company Bandwidth leaves incentive agreement with the state". Winston-Salem Journal. Retrieved 2024-01-24.
  7. ^ "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.
  8. ^ "Bandwidth to Acquire Voxbone".
  9. ^ "Bandwidth to Acquire Voxbone, Propel Global Expansion".
  10. ^ "Tired of robocalls? NC State, Bandwidth team up in search of solutionsl".

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