net2phone is a Cloud Communications provider offering cloud based telephony services to businesses worldwide. The company is a subsidiary of IDT Corporation.
History
net2phone was founded in 1990 by telecom entrepreneur Howard Jonas, the chairman and chief executive officer of net2phone’s parent company, IDT Corporation. The company was an early pioneer in the commercialization of voice-over-Internet protocol (VoIP) technologies leveraging the global carrier business and infrastructure of IDT and focusing on transitioning businesses and consumers from PSTN, traditional telecom interconnects, to Voice over IP.
On July 30, 1999, during the dot-com bubble, the company became a public company via an initial public offering, raising $81 million. Shares rose 77% on the first day of trading to $26 per share.[1] After completion of the IPO, IDT owned 57% of the company.[2] Within a few weeks, the shares increased another 100% in value, to $53 per share.[2]