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IDT Corporation

#5240

Rank

$1.43B

Marketcap

US United States

Country

IDT Corporation
Leadership team

Mr. Howard S. Jonas (Chairman & Chairman)

Mr. Samuel Jonas (Chief Exec. Officer)

Mr. Abilio S. Pereira (Pres, COO & Ex-Officio Non-Voting Member)

Products/ Services
Communications Infrastructure, Digital Entertainment, Financial Services, Payments, Retail, Telecommunications
Number of Employees
1,000 - 20,000
Headquarters
Newark, New Jersey, United States
Established
1990
Company Registration
SEC CIK number: 0001005731
Net Income
20M - 100M
Revenue
Above - 1B
Traded as
IDT
Social Media
Overview
Location
Summary
IDT Corporation provides communications and payment services in the United States and internationally. The company operates through three segments: Fintech, net2phone, and Traditional Communications. The Fintech segment offers international money remittance and related value/payment transfer services under the BOSS Revolution brand name; and national retail solutions, such as point of sale network providing payment processing, digital advertising, transaction data, and ancillary services under the NRS brand name. The net2phone segment provides net2phone, a cloud communications service for businesses; and cable telephony services under the net2phone brand name. The Traditional Communications segment offers Mobile Top-Up that enables customers to transfer airtime and bundles of airtime, messaging, and data to international and domestic mobile accounts; BOSS Revolution Calling, an international long-distance calling service; and IDT Global, a wholesale provider of international voice and SMS termination, and outsourced traffic management solutions to telecoms. The company was incorporated in 1978 and is headquartered in Newark, New Jersey.
History

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 , and sold 32% of Net2Phone in August 2000 to AT&T for $1.1 billion in cash.

Acquisitions and spinoffs

November 2004: launched IDT Energy, a retail energy business. It and other energy-related businesses were spun off October 2011. IDT Energy went to its shareholders as Genie Energy.

January 2006: IDT Telecom, Inc. sold to GVC Networks LLC all its IDT Winstar Solution subsidiaries: Winstar Communications, Winstar Government Solutions, LLC and Winstar Wireless, LLC.

February 2006: IDT announced it would reacquire full ownership of Net2Phone, a company it had launched in the mid 1990s.

March 2006: IDT sold its Russian telecom business, Corbina Telecom, to a Moscow-based consortium of private equity investors.

May 2006: IDT agreed to sell its IDT Entertainment division to Liberty Media.

August 2006: sale of all of IDT Entertainment's US operations and several international operations was completed.

December 2006: IDT acquired a controlling interest in the parent company of 2003-founded Zedge.net, a social networking community for mobile users and platform for sharing free mobile content. It was spun off in June 2016.

2007: IDT acquired a 53% interest in comic book, graphic novel, art book, and comic strip collection publisher Idea and Design Works . In 2009, IDT increased its interest to 76%. Shortly afterwards, IDT created CTM Media Holdings, which consisted of the majority interest in IDW and CTM Media Group, a distributor of print and online media advertising focused on tourist destinations. On September 14, 2009, IDT spun off CTM Media Holdings to its shareholders.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 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. , 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.In March 2018, IDT completed its spinoff of Rafael Holdings with IDT founder Howard Jonas serving as Chairman of the board and Chief Executive Officer Rafael Holdings holds commercial real estate assets and interests in two clinical stage, oncology focused pharmaceutical companies. The pharmaceutical holdings consist of interests in Rafael Pharmaceuticals, Inc. and a majority stake in Lipomedix Pharmaceuticals Ltd., both of which are focused on development and commercialisation of drugs in the oncology space.On April 20, 2020, during the COVID-19 pandemic, IDT Corporation applied for and received a loan of US$10 million as part of the Paycheck Protection Program. On April 26, 2020, due to criticism of large companies who were accessing the loan program intended to help small businesses, IDT announced that they would return the loan.

Mission
IDT Corporation (NYSE: IDT) is a growing public company, continuously innovating new products and services to enrich the lives of our customers by providing communications, entertainment and payment services.
Vision
IDT Corporation aims to be the premier digital distribution, prepaid payments, and communication services provider in the world.
Key Team

Mr. Marcelo Fischer (Chief Financial Officer)

Mr. David Wartell (Chief Technology Officer)

Mr. Menachem Ash (Exec. VP of Strategy & Legal Affairs)

Mr. Mitch Silberman (Chief Accounting Officer & Controller)

Mr. Bill Ulrey (VP of Investor Relations & External Affairs)

Ms. Joyce J. Mason Esq. (Exec. VP, Gen. Counsel & Corp. Sec.)

Ms. Nadine Shea (Exec. VP of Global HR)

Recognition and Awards
IDT has received numerous awards, including the 2020 Technology Fast 500 Award, the 2019 Morningstar Investment Excellence Award and the 2020 Global Data Celebrates Excellence Award.
References

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IDT Corporation
Leadership team

Mr. Howard S. Jonas (Chairman & Chairman)

Mr. Samuel Jonas (Chief Exec. Officer)

Mr. Abilio S. Pereira (Pres, COO & Ex-Officio Non-Voting Member)

Products/ Services
Communications Infrastructure, Digital Entertainment, Financial Services, Payments, Retail, Telecommunications
Number of Employees
1,000 - 20,000
Headquarters
Newark, New Jersey, United States
Established
1990
Company Registration
SEC CIK number: 0001005731
Net Income
20M - 100M
Revenue
Above - 1B
Traded as
IDT
Social Media