Thursday, August 25, 2005

WSJ.com - Vonage Plans to File for IPO To Raise Up to $600 Million

WSJ.com - Vonage Plans to File for IPO To Raise Up to $600 Million: "Vonage Holdings Corp., a fast-growing provider of residential phone service over the Internet, is planning to file for an initial public offering to raise as much as $600 million, according to a person familiar with the matter.
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Vonage faces increasing competition from deep-pocketed rivals, including AT&T Corp. and many of the nation's cable companies, which are quickly adding voice over Internet protocol, or VOIP, to their high-speed Internet offerings. It also faces competition from a growing number of Internet giants, including Microsoft Corp.'s MSN unit and Yahoo Inc., that are adding voice components to instant messaging and gaming.
Vonage has raised more than $400 million in venture capital so far from firms that include Bain Capital, 3i Group PLC and Institutional Venture Partners."
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