LoopUp
{{short description|British software company}}
{{Use dmy dates|date=April 2022}}
{{Multiple issues|
{{Advert|date=September 2021}}
{{COI|date=September 2021}}
{{Undisclosed paid|date=September 2021}}
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{{Infobox company
| name = LoopUp Group
| logo = LoopUp logo.svg
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| former_name = Ring2
| type = Public
| traded_as = {{lse|LOOP}}
| industry = {{ubl|Remote Meetings | Collaboration | Software-as-a-service (SaaS)}}
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| founded = {{Start date and age|2003}}
| founders = {{ubl|Steve Flavell|Michael Hughes}}
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| hq_location_city = London
| hq_location_country = United Kingdom
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| key_people = {{ubl|Steve Flavell (co-CEO)|Michael Hughes (co-CEO)}}
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| brands = LoopUp, MeetingZone
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LoopUp is a global provider of cloud communications and collaboration solutions{{what|date=February 2023}} for enterprises. LoopUp’s core product is cloud telephony for Microsoft Teams as an end-to-end managed service. The company also offers a SaaS platform for remote meetings and operator-managed large online meetings.{{cite web |title=Homepage |url=https://loopup.com/ |website=LoopUp |access-date=10 January 2022 |language=en |archive-date=3 January 2019 |archive-url=https://web.archive.org/web/20190103052427/https://loopup.com/ |url-status=live }}
Co-CEOs Steve Flavell and Michael Hughes founded LoopUp in 2003 in San Francisco and London, where the company is headquartered.{{cite web |title=LoopUp – UK |url=https://reports.weforum.org/entrepreneurial-ecosystems-around-the-globe-and-early-stage-company-growth-dynamics/executive-cases-interviews-with-senior-executives-of-early-stage-companies/loopup-uk/?doing_wp_cron=1641817615.7339150905609130859375 |website=Entrepreneurial Ecosystems Around the Globe and Early-Stage Company Growth Dynamics |access-date=10 January 2022 |archive-date=10 January 2022 |archive-url=https://web.archive.org/web/20220110123456/https://reports.weforum.org/entrepreneurial-ecosystems-around-the-globe-and-early-stage-company-growth-dynamics/executive-cases-interviews-with-senior-executives-of-early-stage-companies/loopup-uk/?doing_wp_cron=1641817615.7339150905609130859375 |url-status=live }} Other offices include Barbados, Berlin, Boston, Hong Kong, Madrid, Malmö, and Sydney.{{cite web |title=Contact Us |url=https://loopup.com/us/company/contact-us/ |website=LoopUp |access-date=10 January 2022 |language=en |archive-date=10 January 2022 |archive-url=https://web.archive.org/web/20220110123447/https://loopup.com/us/company/contact-us/ |url-status=live }}
History
LoopUp began in 2003 as Ring2. It was founded by Steve Flavell and Michael Hughes, who met while studying at Stanford University. As two of eight UK students on their course, they connected and shared ideas, coming up with a concept for a digital communication network for businesses. They teamed up after graduating and founded Ring2 in 2003.{{cite web |last1=Dunsby |first1=Megan |title=The Entrepreneur: Steve Flavell, LoopUp |url=https://startups.co.uk/the-entrepreneur-steve-flavell-loopup/ |publisher=Startups magazine |date=June 14, 2017 |access-date=21 December 2018 |archive-date=21 December 2018 |archive-url=https://web.archive.org/web/20181221182609/https://startups.co.uk/the-entrepreneur-steve-flavell-loopup/ |url-status=live }}
Initially, LoopUp was funded by a group of around 60 angel investors, including friends and former colleagues of the founders, and Adara Venture Partners, a Spanish venture capital company.
In 2007, Ring2 raised a further round of funding to grow the business more rapidly by hiring a sales staff. According to an interview with Flavell, Ring2 hired 25 people following this round of funding. Since then, growth has been driven largely by recruiting graduates that are trained internally.
In September 2007, Ring2 announced the launch of its conference call control service on Windows Mobile 5 and 6-powered devices, expanding its mobile services from BlackBerry platforms to WinMob-powered cellphones and PDAs.{{cite web |last1=Shaw |first1=Russell |title=Ring2 conference call service now on Windows Mobile devices |url=https://www.zdnet.com/article/ring2-conference-call-service-now-on-windows-mobile-devices/ |publisher=ZDNet |access-date=21 December 2018 |archive-date=24 June 2021 |archive-url=https://web.archive.org/web/20210624071812/https://www.zdnet.com/article/ring2-conference-call-service-now-on-windows-mobile-devices/ |url-status=live }}
In December 2010, Ring2 was selected by BT to provide conference calling to its customers under the BT MeetMe brand, including BT MeetMe Mobile Controller, BT MeetMe Desktop Controller, and BT MeetMe Add-in for Outlook. In 2012, Ring2 changed its name to LoopUp and added support for remote meetings as well as conference calls.{{cite web |title=First Take: LoopUp |url=https://www.zdnet.com/article/first-take-loopup/ |publisher=ZDNet |date=June 5, 2012 |access-date=21 December 2018 |archive-date=30 March 2018 |archive-url=https://web.archive.org/web/20180330134739/http://www.zdnet.com/article/first-take-loopup/ |url-status=live }}
In March 2013, LoopUp announced a partnership with LIME to distribute it its product as part of a managed service agreement to business customers in 14 countries across the Caribbean.{{cite web |title=First Take: LoopUp |url=http://www.jamaicaobserver.com/business/LIME-to-deliver-Loopup-conferencing-solution-to-caribbean-businesses_13859587 |publisher=Jamaica Observer |date=June 5, 2012 |access-date=21 December 2018 |archive-date=21 December 2018 |archive-url=https://web.archive.org/web/20181221134606/http://www.jamaicaobserver.com/business/LIME-to-deliver-Loopup-conferencing-solution-to-caribbean-businesses_13859587 |url-status=live }} In September 2015, LoopUp opened their sixth office in New York to access the large number of professional services firms headquartered in that city.
In August 2016, LoopUp was floated on the Alternative Investment Market in an IPO that valued the business at £40 million.{{cite news |last1=Armstrong |first1=Ashley |title=LoopUp dials up £40m IPO |url=https://www.telegraph.co.uk/business/2016/08/24/loopup-dials-up-40m--ipo/ |access-date=10 January 2022 |work=The Telegraph |date=24 August 2016 |archive-date=26 January 2022 |archive-url=https://web.archive.org/web/20220126183225/https://www.telegraph.co.uk/business/2016/08/24/loopup-dials-up-40m--ipo/ |url-status=live }}{{cite web |last1=Braude |first1=Jonathan |title=LoopUp Dials Up First Tech IPO Since Brexit |url=https://www.thestreet.com/story/13683906/1/loopup-dials-up-first-tech-ipo-since-brexit.html |publisher=TheStreet.com |date=August 24, 2016 |access-date=21 December 2018 |archive-date=21 December 2018 |archive-url=https://web.archive.org/web/20181221090552/https://www.thestreet.com/story/13683906/1/loopup-dials-up-first-tech-ipo-since-brexit.html |url-status=live }}{{cite web |last1=Barber |first1=Lynsey |title=This London tech startup is planning to list on AIM |url=http://www.cityam.com/247063/london-tech-startup-planning-list-aim |publisher=City A.M. |date=August 8, 2016 |access-date=21 December 2018 |archive-date=21 December 2018 |archive-url=https://web.archive.org/web/20181221182444/http://www.cityam.com/247063/london-tech-startup-planning-list-aim |url-status=live }} LoopUp's IPO was the first tech flotation in London after the Brexit referendum in June 2016.{{cite web |last1=Turvill |first1=William |title=Shoreditch tech startup LoopUp to float on London Stock Exchange junior market today |url=http://www.cityam.com/248080/shoreditch-tech-startup-loopup-float-london-stock-exchange |publisher=City A.M. |date=August 24, 2016 |access-date=21 December 2018 |archive-date=21 December 2018 |archive-url=https://web.archive.org/web/20181221090555/http://www.cityam.com/248080/shoreditch-tech-startup-loopup-float-london-stock-exchange |url-status=live }}{{cite web |last1=Shead |first1=Sam |title=A Shoreditch software startup that makes conference calls less painful is planning to IPO |url=https://www.businessinsider.com/loopup-announces-plans-to-ipo-on-london-stock-exchange-2016-8 |publisher=Business Insider |date=August 8, 2016 |access-date=21 December 2018 |archive-date=11 August 2016 |archive-url=https://web.archive.org/web/20160811182915/http://uk.businessinsider.com/loopup-announces-plans-to-ipo-on-london-stock-exchange-2016-8 |url-status=live }} Flavell stated in an interview with The Daily Telegraph that the Brexit vote hadn't put them off the idea of an IPO and that it was a necessary step to raise funds to expand the business further. Both Flavell and Hughes retained a stake in LoopUp.{{cite web |last1=Armstrong |first1=Ashley |title=LoopUp dials up £40m IPO |url=https://www.telegraph.co.uk/business/2016/08/24/loopup-dials-up-40m--ipo/ |publisher=The Telegraph |date=August 24, 2016 |access-date=21 December 2018 |archive-date=21 December 2018 |archive-url=https://web.archive.org/web/20181221134648/https://www.telegraph.co.uk/business/2016/08/24/loopup-dials-up-40m--ipo/ |url-status=live }} Lady Barbara Judge was announced as chair of LoopUp's board following the company's IPO.
Later in 2016, Hughes received an MBE for services to British graduates in Silicon Valley and San Francisco. This was in recognition of his role in founding LoopUp, and also the Silicon Valley Internship Programme, an organisation that arranges internships for British engineering graduates at Silicon Valley–based tech firms.{{cite web |last1=Cook |first1=James |title=Here are all the UK tech figures named in the Queen's New Year's Honours list |url=https://www.businessinsider.com/uk-tech-figures-named-in-the-queens-new-years-honours-list-2016-12 |publisher=Business Insider |date=December 30, 2016 |access-date=21 December 2018 |archive-date=3 January 2017 |archive-url=https://web.archive.org/web/20170103122356/http://uk.businessinsider.com/uk-tech-figures-named-in-the-queens-new-years-honours-list-2016-12#debbie-forster-from-apps-for-good-12 |url-status=live }}
At the end of 2016, LoopUp’s turnover was £12.8 million, up 39% from 2015, and shares rose 13% in a single day following the performance announcement in early 2017.{{cite web |last1=Barber |first1=Lynsey |title=Fresh from an IPO, UK tech firm LoopUp had a superb 2016 sending shares soaring |url=http://www.cityam.com/257293/fresh-ipo-uk-tech-firm-loopup-had-superb-2016-sending |publisher=City A.M. |date=January 18, 2017 |access-date=11 January 2019 |archive-date=11 January 2019 |archive-url=https://web.archive.org/web/20190111121714/http://www.cityam.com/257293/fresh-ipo-uk-tech-firm-loopup-had-superb-2016-sending |url-status=live }} In May 2018, LoopUp commercially launched into the Australian market with the opening of an office in Sydney.{{cite web |title=LoopUp Open new Sydney office |url=https://www.sharesmagazine.co.uk/news/market/5911475/LoopUp-expands-into-Australian-market-with-opening-of-Sydney-office |publisher=Shares Magazine |access-date=11 January 2019 |archive-date=11 January 2019 |archive-url=https://web.archive.org/web/20190111121630/https://www.sharesmagazine.co.uk/news/market/5911475/LoopUp-expands-into-Australian-market-with-opening-of-Sydney-office |url-status=live }}
In June 2018, LoopUp announced it had acquired British-based conferencing company MeetingZone.{{cite web |last1=Shapland |first1=Mark |title=Small-Cap Spotlight: Ceres Power and Loopup climbing high in a busy session among the tiddlers |url=https://www.standard.co.uk/business/smallcap-spotlight-ceres-power-and-loopup-climbing-high-in-a-busy-session-among-the-tiddlers-a3840481.html |publisher=Evening Standard |date=May 16, 2018 |access-date=21 December 2018 |archive-date=21 December 2018 |archive-url=https://web.archive.org/web/20181221093049/https://www.standard.co.uk/business/smallcap-spotlight-ceres-power-and-loopup-climbing-high-in-a-busy-session-among-the-tiddlers-a3840481.html |url-status=live }}{{cite web |last1=Stephens |first1=Peter |title=Forget the State Pension, this bargain FTSE 100 share could boost your retirement savings |url=https://www.fool.co.uk/investing/2018/09/26/forget-the-state-pension-this-bargain-ftse-100-share-could-boost-your-retirement-savings/ |publisher=Motley Fool |date=September 26, 2018 |access-date=21 December 2018 |archive-date=21 December 2018 |archive-url=https://web.archive.org/web/20181221134635/https://www.fool.co.uk/investing/2018/09/26/forget-the-state-pension-this-bargain-ftse-100-share-could-boost-your-retirement-savings/ |url-status=live }} The deal was a reverse takeover, valued at £61 million.{{cite web |title=LoopUp Group Completes "Transformational" Takeover Of MeetingZone |url=http://www.morningstar.co.uk/uk/news/AN_1528198642446454500/loopup-group-completes-transformational-takeover-of-meetingzone.aspx |publisher=Morningstar |date=June 5, 2018 |access-date=21 December 2018 |archive-date=21 December 2018 |archive-url=https://web.archive.org/web/20181221134547/http://www.morningstar.co.uk/uk/news/AN_1528198642446454500/loopup-group-completes-transformational-takeover-of-meetingzone.aspx |url-status=live }}
In September 2021, the company announced the acquisition of SyncRTC, parent company of hybrid collaboration SaaS technology platform mashme.io.{{cite news |last1=Orfila |first1=Albert |title=Víctor Sánchez, un emprendedor mallorquín que triunfa en EEUU |url=https://www.ultimahora.es/noticias/local/2021/10/04/1306169/victor-sanchez-emprendedor-mallorquin-triunfa-eeuu.html |access-date=10 January 2022 |work=Ultima Hora |date=4 October 2021 |language=es |archive-date=10 January 2022 |archive-url=https://web.archive.org/web/20220110123446/https://www.ultimahora.es/noticias/local/2021/10/04/1306169/victor-sanchez-emprendedor-mallorquin-triunfa-eeuu.html |url-status=live }}