CEO Craig Malloy says the video collaboration vendor’s transition to a subscription-based cloud model enables it to meet changing customer demands.
Lifesize officials have spent the past two years essentially reinventing the company’s business model, an effort that has seen the video and Web conferencing vendor transform from a seller of systems to a cloud-based collaboration provider.
The transformation wasn’t easy and wasn’t without pain. Lifesize, as a division of publicly-traded Logitech, saw its financial numbers take a hit, and the company cut the workforce in half. At the same time, the vendor had to continue competing in a rapidly changing market that was seeing an influx of new rivals and new business models.