Quantcast

Vonage Calling Up $600 Million IPO

Get the WebProNews Newsletter:
[ Business]

It appears Vonage has heard Google Talk’s heavy breathing and wants to expand before it’s too late.

With 800,000 households using its service, Vonage sees now as the right time to conduct an initial public stock offering. The Wall Street Journal reports this offer could be worth around $600 million to the company.

The announcement comes in the wake of news reports about VoIP customers and 911 availability. The FCC could force Vonage and other providers to cut off customers if the companies cannot prove their customers understand the limitations with VoIP and emergency phone calls. The FCC set an initial cutoff date of August 29.

Vonage needs the cash to compete with the Googles and AT&Ts and Time Warners of the world, and without extra funding could be crushed by those rivals. The company has raised over $400 million in venture capital to date, the report said.

The discounted rates and global connections offered by VoIP technology have made the sector very desirable by individuals and businesses. One projection cited in the report sees as many as 17 million users of VoIP in the next three years.

David Utter is a staff writer for WebProNews covering technology and business. Email him here.

Vonage Calling Up $600 Million IPO
Comments Off
Top Rated White Papers and Resources

Comments are closed.

  • Join for Access to Our Exclusive Web Tools
  • Sidebar Top
  • Sidebar Middle
  • Sign Up For The Free Newsletter
  • Sidebar Bottom