Glowpoint Gets Nearly $1.6M from Avaya

Glowpoint (OTCBB: [[ticker:GLOW]]) in Murray Hill, NJ, has raised nearly $1.6 million in equity financing, according to regulatory filings with the SEC. The company is a provider of telepresence and video conferencing management services. Glowpoint generated $32,000 in profits on $7 million in revenue for the quarter ending on March 31. Glowpoint issued a total of 769,049 shares of common stock to privately-held business communications service provider Avaya and Avaya’s British and Canadian branches, according to the filings.

Author: João-Pierre S. Ruth

After more than thirteen years as a business reporter in New Jersey, João-Pierre S. Ruth joined the ranks of Xconomy serving first as a correspondent and then as editor for its New York City branch. Earlier in his career he covered telecom players such as Verizon Wireless, device makers such as Samsung, and developers of organic LED technology such as Universal Display Corp. João-Pierre earned his bachelor’s in English from Rutgers University.