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Does Tely Labs Threaten George Soros's 9.4 Million Polycom Share Bet?

May 28, 2014 | Telepresence Options

Polycom_Real_Presence

Story and images by Forbes

In February George Soros reported that he had bet 9.4 million shares on videoconferencing player Polycom which replaced its CEO in December 2013. But a fast-growing upstart is threatening the videoconferencing industry structure which has been dominated by Cisco Systems CSCO +0.5% and Polycom. Does that mean Soros made a bad bet?

The upstart is Tely Labs, an "under 50-person" Redwood City, Calif.-based startup that's "doubling its revenues year over year." It controls 20% of the single-codec videoconferencing endpoint market in North America according to Wainhouse Research. And Tely believes that it's poised to take second place from Polycom -- with a 21% share -- by the end of 2014.

Polycom dismisses Tely's claim. "These numbers don't reflect what is happening in the overall video conferencing industry today," according to Polycom's Director of Corporate Communications, Julie Basa.

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