Vonage takes a step forward in bringing VOIP access to more people
One of the most popular VOIP companies around, Vonage, has announced that it will execute it's initial public offering (IPO) and become a publicly owned company. Vonage focuses on delivering nation-wide telephone access that's competitive to what telcos offer by at a much lower price.
For the past three years, Vonage has made significant strides in its coverage as well as service offerings. According to the company, it's revenue has grown at a significant rate since 2003:
- $18.7 million in 2003
- $79.7 million in 2004
- $174.0 million in 2005 (at the end of September) - nearly 46% growth from 2004 to fiscal 2005
Now with an eminent IPO, Vonage hopes to raise about $250 million from investors to boost its resources for expansion. Vonage has been expanding rapidly both in the US and in Canada although recently, it has met some issues with the Canadian government. Uesrs of Vonage Canada recently received a notice that it may have to stop its services until a proper 911 emergency service can be worked out. Currently, when users dial 911 through Vonage, the connection is routed to a national response center which will collect caller information before passing the call to a local dispatch center. By most standards, this is unacceptable at the moment. For the time being however, Vonage is still humming along well in Canada.
Over the past few years, VOIP services and offerings have gained significant ground. Companies like Vonage, Skype, Linksys and others are all focusing on developing VOIP products and services. It will only be a matter of time before the large telco companies hop on the bandwagon.
"Paying an extra $500 for a computer in this environment -- same piece of hardware -- paying $500 more to get a logo on it? I think that's a more challenging proposition for the average person than it used to be." -- Steve Ballmer
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