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IDT Corporation
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IDT Corporation
IDT Corporation (originally standing for International Discount Telecommunications) is a multinational provider of cloud communications, point of sale systems, unified communications, and financial services foreign exchange services for selected clients. It has units dedicated for businesses and consumers such as the Boss Revolution pre-paid phone cards, headquartered in Newark, New Jersey.
IDT's first service was callback, which was based on the idea that "it costs two and three times as much to call from overseas as it does the other way."
IDT was founded by entrepreneur Howard Jonas in August 1990. He founded the company after opening a sales office in Israel, receiving large international phone bills and then discovering a way to lower them by re-originating calls in the United States.
In 1996, IDT founded Net2Phone, the world's fourth-largest VoIP provider (2017), and sold 32% of Net2Phone in August 2000 to AT&T for $1.1 billion in cash. That same year, IDT became a public company via an initial public offering.
IDT operated a wireless MVNO, TúYo Mobile on the T-Mobile network. It was terminated on May 1, 2012. On July 31, 2013, IDT spun off Straight Path, a communications asset company holding 39 GHz (millimeter wave) nationwide spectrum and on average, 800 MHz of bandwidth in top 30 US markets. In October 2014, IDT sold Fabrix Systems, an Israel-based software company that developed and licenses a proprietary cloud based storage and computing platform, to Ericsson.
In February 2015 the company announced it had reached an agreement with Empresa de Telecomunicaciones de Cuba S.A. (ETECSA), Cuba's national telecom provider, for international long distance telephony between the United States and Cuba directly.
In January 2017, Net2Phone, subsidiary of IDT Corporation, acquired LiveNinja, a Miami-based messaging and live chat technology startup. LiveNinja's messaging technology is being integrated into its new product now in development. Leveraging LiveNinja's technology, net2phone will offer a multi-channel platform for small and medium-sized enterprises that spans phone, messaging, SMS and web chat.
On 24 January 2018, IDT began a pilot test on using Ripple's native cryptocurrency. The aim to simplify cross border payments, in order to free up billions held in foreign Vostro accounts.
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IDT Corporation
IDT Corporation (originally standing for International Discount Telecommunications) is a multinational provider of cloud communications, point of sale systems, unified communications, and financial services foreign exchange services for selected clients. It has units dedicated for businesses and consumers such as the Boss Revolution pre-paid phone cards, headquartered in Newark, New Jersey.
IDT's first service was callback, which was based on the idea that "it costs two and three times as much to call from overseas as it does the other way."
IDT was founded by entrepreneur Howard Jonas in August 1990. He founded the company after opening a sales office in Israel, receiving large international phone bills and then discovering a way to lower them by re-originating calls in the United States.
In 1996, IDT founded Net2Phone, the world's fourth-largest VoIP provider (2017), and sold 32% of Net2Phone in August 2000 to AT&T for $1.1 billion in cash. That same year, IDT became a public company via an initial public offering.
IDT operated a wireless MVNO, TúYo Mobile on the T-Mobile network. It was terminated on May 1, 2012. On July 31, 2013, IDT spun off Straight Path, a communications asset company holding 39 GHz (millimeter wave) nationwide spectrum and on average, 800 MHz of bandwidth in top 30 US markets. In October 2014, IDT sold Fabrix Systems, an Israel-based software company that developed and licenses a proprietary cloud based storage and computing platform, to Ericsson.
In February 2015 the company announced it had reached an agreement with Empresa de Telecomunicaciones de Cuba S.A. (ETECSA), Cuba's national telecom provider, for international long distance telephony between the United States and Cuba directly.
In January 2017, Net2Phone, subsidiary of IDT Corporation, acquired LiveNinja, a Miami-based messaging and live chat technology startup. LiveNinja's messaging technology is being integrated into its new product now in development. Leveraging LiveNinja's technology, net2phone will offer a multi-channel platform for small and medium-sized enterprises that spans phone, messaging, SMS and web chat.
On 24 January 2018, IDT began a pilot test on using Ripple's native cryptocurrency. The aim to simplify cross border payments, in order to free up billions held in foreign Vostro accounts.
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