Thursday, August 25, 2005 - Vonage Plans to File for IPO To Raise Up to $600 Million - 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.
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."

No comments: