<SEC-DOCUMENT>0000950123-15-006653.txt : 20150813
<SEC-HEADER>0000950123-15-006653.hdr.sgml : 20150813
<ACCEPTANCE-DATETIME>20150521172205
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0000950123-15-006653
CONFORMED SUBMISSION TYPE:	DRSLTR
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20150521

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			OOMA INC
		CENTRAL INDEX KEY:			0001327688
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMPUTER PROCESSING & DATA PREPARATION [7374]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0131

	FILING VALUES:
		FORM TYPE:		DRSLTR

	BUSINESS ADDRESS:	
		STREET 1:		1880 EMBARCADERO ROAD
		CITY:			PALO ALTO
		STATE:			CA
		ZIP:			94303
		BUSINESS PHONE:		6505666610

	MAIL ADDRESS:	
		STREET 1:		1880 EMBARCADERO ROAD
		CITY:			PALO ALTO
		STATE:			CA
		ZIP:			94303
</SEC-HEADER>
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<TD VALIGN="top"><B>ORRICK,&nbsp;HERRINGTON&nbsp;&amp;&nbsp;SUTCLIFFE&nbsp;<SMALL>LLP</SMALL></B></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">THE ORRICK BUILDING</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">405 HOWARD STREET</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">SAN FRANCISCO, CALIFORNIA 94105-2669</P></TD></TR>
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<TD VALIGN="top"> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman"><I>tel +1-415-773-5700</I></P></TD></TR>
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<TD VALIGN="top"><I>fax +1 415-773-5759</I></TD></TR>
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<TD VALIGN="top"> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman"><B>WWW.ORRICK.COM</B></P></TD></TR>
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<TD VALIGN="top"> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">May 21, 2015</P></TD>
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<TD VALIGN="top"> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Andrew D. Thorpe</P></TD></TR>
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<TD VALIGN="top">athorpe@orrick.com</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Barbara C. Jacobs </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Assistant
Director </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Division of Corporation Finance </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">United States
Securities and Exchange Commission </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">100 F Street, N.E. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Washington, DC 20549 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">Re:</TD>
<TD ALIGN="left" VALIGN="top">Ooma, Inc. </TD></TR></TABLE> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Amendment No. 1 to Draft Registration Statement on Form S-1 Submitted </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">April&nbsp;20, 2015 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">CIK No.
0001327688 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Ms.&nbsp;Jacobs: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On behalf of our client,
Ooma, Inc. (the &#147;Company&#148;), we submit this letter to the Staff of the Securities and Exchange Commission (the &#147;Commission&#148;) with respect to the above referenced Draft Registration Statement on Form S-1 (the &#147;Draft
Registration Statement&#148;). Set forth below are the Company&#146;s responses to the comments contained in the Staff&#146;s letter dated letter dated May&nbsp;5, 2015. The Staff&#146;s comments are repeated below in bold face type and followed by
the Company&#146;s responses in regular type. Concurrent with this letter, the Company is confidentially submitting its Draft Registration Statement on Form S-1 (the &#147;Registration Statement&#148;), which incorporates the Company&#146;s
responses to the Staff&#146;s comments. The page references set forth in the Company&#146;s responses below are to the Registration Statement. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Prospectus Summary </U></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top"><B>We note your response to prior comment 2.</B> </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="3%" VALIGN="top" ALIGN="left"><B>&#149;</B></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><B>Please provide us with additional support for your statement that your communications solutions deliver &#147;industry-leading HD voice quality.&#148; In this regard, we note that the consumer research publication
excerpt dated May 2014 rates Ooma&#146;s call quality behind both WOW and Verizon FiOS. </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: In response to
the Staff&#146;s comment, the Company has removed the reference to &#147;industry-leading&#148; HD voice quality throughout the prospectus. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><B>&#149;</B></TD>
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<TD ALIGN="left" VALIGN="top"><B>Please revise the statement that you have &#147;achieved high levels of customer retention and loyalty by delivering exceptional quality and customer satisfaction&#148; to clarify that this is your belief.
</B></TD></TR></TABLE>

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 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Barbara C. Jacobs </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">May 21,
2015 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> Page
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: In response to the Staff&#146;s comment, the Company has revised the
disclosure on pages&nbsp;1, 60 and 86. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="3%" VALIGN="top" ALIGN="left"><B>&#149;</B></TD>
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<TD ALIGN="left" VALIGN="top"><B>Please tell us what consideration you have given to disclosing the name of the leading U.S. consumer research publication that has ranked Ooma as the number one home phone service for overall satisfaction and value.
Additionally, consider revising to include the years Ooma has been ranked as the number one home phone service for overall satisfaction and value by this publication. </B></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: The Company advises the Staff that it is prohibited by contract from using the name of the consumer research publication for
advertising purposes, and accordingly, it has chosen not to identify the publication in the Registration Statement. In response to the Staff&#146;s comment, the Company has added the years of the rankings on pages&nbsp;1, 4, 86 and 91. </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><B>&#149;</B></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><B>Please revise the statement that your Talkatone app was &#147;ranked in the top 100 and top 300&#148; of the Google Play and Apple App Store, respectively, to provide additional context. For example, clarify that
these rankings are based on the number of U.S. downloads as tracked by App Annie, if true. </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: In response
to the Staff&#146;s comment, the Company has added additional context and a reference to App Annie on pages&nbsp;1 and 86. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Risks Associated with
Our Business, page 5 </U></B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B></B>2.</TD>
<TD ALIGN="left" VALIGN="top"><B>We note the revisions made in response to prior comment 12 concerning the ownership of a significant portion of your stock by insiders. Please revise your disclosure here and in the risk factor on page 44 to disclose
the percentage of your voting power to be held by these insiders following the completion of this offering. </B></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: In response to the Staff&#146;s comment, the Company has added disclosure on pages 6 and 44. </P>

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 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Barbara C. Jacobs </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">May 21,
2015 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> Page
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Summary Consolidated Financial Data, page 10 </U></B></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B></B>3.</TD>
<TD ALIGN="left" VALIGN="top"><B>We note in your response to prior comment 4 that while you currently plan to use a portion of the IPO proceeds to repay your outstanding Silicon Valley Bank loans and to cash settle the December 2010 warrant, you
will not add related pro forma disclosures to subsequent amendments to this filing until such time you determine the IPO price range. To the extent you do file further amended versions of your registration statement prior to determination of the IPO
price range, we ask that you include placeholder pro forma disclosures for the number of shares to be issued and related proceeds to be used to repay the Silicon Valley Bank loans and cash settle the December 2010 warrant. Include revisions on the
page F-31 placeholders for both the numerator and denominator calculations used in computing pro forma net loss per share now inclusive of the effects of the loan repayments and related interest expense. </B></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: In response to the Staff&#146;s comment, the Company has added pro forma disclosure placeholders on pages 11, 51, 57, F-31 and
F-32. With respect to the repayment of the bank loan, the Company respectfully advises the Staff that it does not believe that it is appropriate to include the bank loan repayment as a change in capitalization in the pro forma disclosures in the
consolidated financial statements. However, the bank loan repayment has been added to the placeholder in the forepart of the prospectus. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Risk
Factors </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Risks Related to Our Business </U></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Shifts in trends or the emergence of new technologies may render our solutions&#133;, page 24 </U></B></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">4.</TD>
<TD ALIGN="left" VALIGN="top"><B>Revisions made in response to prior comment 10 indicate that you derived &#147;over 80%&#148; of your revenue from Ooma Telo in fiscal 2015. Please revise to disclose the exact percentage.</B> </TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: In response to the Staff&#146;s comment, the Company has revised the disclosure on page&nbsp;25. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Use of Proceeds, page 49 </U></B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">5.</TD>
<TD ALIGN="left" VALIGN="top"><B>We note that you intend to use a portion of the net proceeds from this offering to repay the outstanding principal and accrued interest on your existing loans with Silicon Valley Bank. Please tell us whether any of
the indebtedness to be discharged was incurred within one year, and if so, describe the use of proceeds of such indebtedness other than short-term borrowings used for working capital. Refer to Instruction 4 of Item&nbsp;504 of Regulation S-K.</B>
</TD></TR></TABLE>

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 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Barbara C. Jacobs </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">May 21,
2015 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> Page
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: The Company advises the Staff that approximately $11 million of the
indebtedness to be discharged was incurred within one year. In response to the Staff&#146;s comment, disclosure of the use of proceeds of such indebtedness was added to page&nbsp;49. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Management&#146;s Discussion and Analysis of Financial Condition and Results of Operations Key Business Metrics, page 61 </U></B></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B></B>6.</TD>
<TD ALIGN="left" VALIGN="top"><B>We note your response to prior comment 14 that core user churn rate is reflected in the Annual Net Dollar Subscription Retention Rate. Please clarify whether you use core user churn rate, independent of its use in
your Annual Net Dollar Subscription Retention Rate metric, to manage your business. If so, provide an analysis of whether you believe disclosure of core user churn rates would be material to investors. </B></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: The Company advises the Staff that its core user churn rate is one of many metrics that it uses to manage specific elements of
its business. In fact, the Company discloses its average monthly core user churn rate on pages&nbsp;87 and 92 of the prospectus. However, the Company does not use the core user churn rate, or many of the other metrics it reviews, in isolation from
each other, to manage the business overall, since there are many interdependencies amongst the many metrics. Accordingly, the Company respectfully advises the Staff that it does not believe that its core user churn rate should be presented as a
&#147;Key Business Metric,&#148; because it would be inconsistent with how the Company manages its overall business. In addition, the average monthly core user churn rate measures short term fluctuations in customer retention from month to month,
which would not be meaningful to assess the Company&#146;s long-term performance. The Company believes that its Annual Net Dollar Subscription Retention Rate adequately reflects the complex interdependencies of its components, including the core
user churn rate, and therefore provides investors with a measure of the Company&#146;s overall financial performance that is clearer, more reliable and more useful than any of its individual components. In this respect, the Company believes that its
practice of disclosing its Annual Net Dollar Subscription Retention Rate and the method used to calculate it, but not the individual components, is consistent with other public companies in the SaaS business sector and appropriate disclosure for
investors. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B></B>7.<B></B></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE="font-family:Times New Roman; font-size:10pt"><B>We note in your response to prior comment 15 that you focus on total core users rather than separate Telo and Office core users to manage your
business, and therefore believe it only appropriate to highlight total core user information. Yet you state on page 24 that Telo revenue comprised over 80% of total fiscal 2015 revenue, and on page 61 you mention that the core user churn rate is
higher for Office customers than for Telo customers. Since you do maintain and evaluate certain separate core user measures for Office and Telo, please explain further the </B></P></TD></TR></TABLE>

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 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Barbara C. Jacobs </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">May 21,
2015 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> Page
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<TD ALIGN="left" VALIGN="top"><B>
consideration you gave to separately presenting core user information for each since it would appear to promote a better understanding of your business for investors. See Section III.B of SEC
Release No.&nbsp;33-8350. </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: The Company advises the Staff that it does not believe that separate core
user information for each of its product lines would be meaningful to investors. The Company believes that a number of Ooma Telo accounts are being used for small businesses. In addition, as discussed in the Business Section, the Company&#146;s
marketing strategy seeks to maximize the synergies between the small business and home markets. For example, advertising for the Ooma Telo product also creates awareness and drives sales of the Ooma Office product. Accordingly, separating core user
information by product line may not provide an accurate illustration of the Company&#146;s performance in either the home or small business markets, whereas the total core user information measures the overall market acceptance of the Company&#146;s
products and the success of its marketing strategies. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">In the same manner that separately disclosing the Company&#146;s core user churn
rate would be inconsistent with the manner in which the Company manages its business (see response to comment no. 6, above), disclosing granular core user information would represent a significant departure from the manner in which the Company
manages its overall business. For example, the Company believes that as much as 10% of its Ooma Telo customers use the service in connection with their small businesses, rather than within their homes. The Company also has evidence that many Ooma
Office customers first learned about the Company because of television advertisements for Ooma Telo. For reasons such as these, the distinction between the core users and core user churn rates for the Company&#146;s consumer and small business
offerings, and the connection between those metrics and other metrics, is somewhat blurred, and trends in the same metric for one or the other offering may be misinterpreted by investors. For example, the Company may elect to increase the amount it
spends on television advertising for the Ooma Telo, which may lead to small businesses representing an even higher percentage of Telo customers. Since small businesses have a high failure rate, this may lead to an increase in the churn rate for Telo
customers that could easily be misinterpreted by investors as an indication that the Company&#146;s Telo service has degraded, rather than an indication that the increased advertising has been effective. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Given these considerations, the Company respectfully advises the Staff that it has concluded that separately presenting core user information
for Office and Telo customers would not promote a better understanding of our business for investors. </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


 <P STYLE="margin-top:0pt;margin-bottom:0pt">


<IMG SRC="g859236drs2ltrpg02.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Barbara C. Jacobs </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">May 21,
2015 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> Page
 6
 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B></B>8.</TD>
<TD ALIGN="left" VALIGN="top"><B>We note your response to prior comment 16 but it is not clear to us why discussion of period-to-period variances in reported business metrics is not appropriate under Item&nbsp;303 of Regulation S-K or SEC Release
No.&nbsp;33-8350. You have added disclosure on page 62 that you believe Annualized Exit Recurring Revenue (AERR) for core users serves as an indicator of recurring subscription and services revenue for near-term future periods. Therefore, AERR and
your other Key Business Metrics are presented as reflective of revenue growth and revenue retention. As such, it appears to us that a discussion of those factors driving period-to-period changes in AERR and your other metrics would provide investors
a better understanding of any trends that will materially impact future results, which is consistent with Item&nbsp;303(a)(3)(ii) of Regulation S-K and Section III.B.3 of SEC Release No.&nbsp;33-8350. Accordingly, please expand your disclosure or
advise us as to why revision is not required. </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: In response to the Staff&#146;s comment, the Company has
added disclosure on page 62 to discuss the trends in AERR and Annual Net Dollar Subscription Retention Rate. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B></B>9.</TD>
<TD ALIGN="left" VALIGN="top"><B>We note your separate response to prior comment 17. We also note your disclosure on page 62 indicating that annual exit recurring revenue derives from total subscription and services revenue. Please reconcile the
2013 &#150; 2015 annual exit recurring revenue amounts included in your response to the reported 2013 &#150; 2015 annual total subscription and services revenue amounts in your filing. </B></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: The Company advises the Staff that annualized exit recurring revenue was derived from the Company&#146;s recurring revenue for
the fourth quarter of each fiscal year presented. Concurrent herewith, we are supplementally providing the reconciliation under cover of a separate letter. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Consolidated Results of Operations, page 66 </U></B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B></B>10.</TD>
<TD ALIGN="left" VALIGN="top"><B>We note that operating expense in total and by subcategory increased substantially in fiscal 2015 as compared to fiscal 2014,&nbsp;per the table on page 68, and your outlook for each subcategory as disclosed on pages
64 &#150; 65. Please tell us your consideration for describing any known trends or uncertainties that have had or that you reasonably expect will have a material favorable or unfavorable impact on net sales or revenues from continuing operations.
This would include a discussion of any known events that will cause a material change in the relationship between these operating expense categories and revenues. See Item&nbsp;303(a)(3)(ii) of Regulation S-K. </B></TD></TR></TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


 <P STYLE="margin-top:0pt;margin-bottom:0pt">


<IMG SRC="g859236drs2ltrpg02.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Barbara C. Jacobs </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">May 21,
2015 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> Page
 7
 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: In response to the Staff&#146;s comment, the Company has added disclosure of
its expectations with regard to revenue trends on page 63. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Contractual Obligations, page 74 </U></B></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">11.</TD>
<TD ALIGN="left" VALIGN="top"><B>We note your disclosure of unrecognized tax benefits as of January&nbsp;31, 2015 on page F-27. Please tell us your consideration for disclosing liabilities relating to such benefits in the table of contractual
obligations or related note. See Item&nbsp;303(a)(5) of Regulation&nbsp;S-K and Section II.C of SEC Release No.&nbsp;33-9144.</B> </TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: The Company advises the Staff that there are no recorded liabilities associated with the unrecognized tax benefits disclosed
on page F-27. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Business </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Litigation,
page 102 </U></B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">12.</TD>
<TD ALIGN="left" VALIGN="top"><B>We note your disclosure of the patent infringement complaint filed against you by UrgenSync, LLC on April&nbsp;17, 2015 in the U.S. District Court for the Eastern District of Texas. We also note that while you
evaluated subsequent events from the balance sheet date through this same date per Note 15 on page F-32, you did not include disclosure of this particular loss contingency in Note&nbsp;12 on page F-28. Please tell us your consideration for including
such disclosure pursuant to ASC 450-20-50-9.</B> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: The Company advises the Staff that prior to issuing its
consolidated financial statements, the Company evaluated the UrgenSync LLC patent infringement complaint following the guidance in ASC 450, and concluded that the probability of a loss contingency occurring was neither probable nor reasonably
possible. In addition, given the early stage of the proceedings, the Company was unable to reasonably estimate the amount of loss or range of losses, if any, that it may incur in connection with the matter. Therefore, the Company concluded that no
disclosure of a loss contingency should be made in its consolidated financial statements. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Principal Stockholders, page 127 </U></B></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">13.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE="font-family:Times New Roman; font-size:10pt"><B>You disclose on page 107 that Mr.&nbsp;Goettner has been the general partner of Worldview Technology Partners, a 57.17% beneficial owner, since
2004. Please tell us what consideration you have given to including the shares beneficially owned by entities affiliated with Worldview Technology Partners in Mr.&nbsp;Goettner&#146;s beneficial ownership calculation. Additionally, we note that
Mr.&nbsp;Goettner and Mr.&nbsp;Wei will serve on your audit and compensation committee, respectively. In light of each&#146;s</B> </P></TD></TR></TABLE>

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 <P STYLE="margin-top:0pt;margin-bottom:0pt">


<IMG SRC="g859236drs2ltrpg02.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Barbara C. Jacobs </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">May 21,
2015 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> Page
 8
 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">
<B>affiliation with Worldview Technology Partners, please provide us with your analysis in support of the board&#146;s determination that Mr.&nbsp;Goettner and Mr.&nbsp;Wei will satisfy the
requirements for independence under the rules of the New York Stock Exchange and the Commission. In this regard, explain to us how you concluded that Mr.&nbsp;Goettner and Mr.&nbsp;Wei are independent for the purposes of Exchange Act Rules
10A-3(b)(1) and 10C-1(b)(1), respectively.</B> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: The Company respectfully directs the Staff&#146;s attention
to footnote 1 of the beneficial ownership table on page&nbsp;132 regarding the entities and the individuals that have or share voting and dispositive power of the shares held by the Worldview IV funds. Mr.&nbsp;Goettner is an employee with the title
&#147;General Partner&#148; of Worldview Technology Partners, Inc., but his position does not enable him to direct the voting or the investment decisions with respect to the Ooma shares held by the Worldview IV funds. Each of the Worldview IV funds
is controlled by Worldview Capital IV, L.P., as general partner of those funds, which in turn is controlled by Worldview Equity I LLC, as general partner of Worldview Capital IV, L.P. To the contrary, the voting and dispositive power over the Ooma
shares held by the Worldview IV funds is shared amongst the members of Worldview Equity I LLC, which are disclosed in footnote 1. Accordingly, the Company submits that Mr.&nbsp;Goettner is not a beneficial owner of the shares held by the Worldview
IV funds under Exchange Act Rule 13d-3. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">The Company also advises the Staff that it has preliminarily concluded that Messrs. Wei and
Goettner will not be independent directors under the listing standards of the NYSE and the Commission&#146;s rules. The Company currently intends to rely upon the phase-in provisions contained in those rules, and appoint independent directors to
replace Messrs. Wei and Goettner as compensation, audit, and nominating and governance committee members within the grace period provided in such rules. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">********************************************** </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We appreciate your time and attention to the Company&#146;s responses to the Staff&#146;s comments. Should you have any additional questions or concerns,
please call me at 415-773-5970. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Very truly yours, </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">/s/
Andrew D. Thorpe </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Andrew D. Thorpe </P>

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 <P STYLE="margin-top:0pt;margin-bottom:0pt">


<IMG SRC="g859236drs2ltrpg02.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Barbara C. Jacobs </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">May 21,
2015 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> Page
 9
 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="96%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">cc:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Eric B. Stang, Ooma, Inc.</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Ravi Narula, Ooma, Inc.</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Spencer Jackson, Ooma, Inc.</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Stephen J. Venuto, Orrick</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Christopher J. Austin, Orrick</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Joseph Z. Perkins, Orrick</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Andrew S. Williamson, Cooley LLP</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Charles S. Kim, Cooley LLP</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">David G. Peinsipp, Cooley LLP</TD></TR>
</TABLE>
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