Vonage Plans IPO

6:43 pm on August 25, 2005 | Category: Business, VoIP

The New Jersey based Vonage Holdings Inc., a quickly growing provider of residential phone service has recently made plans to go public.

The company, which was founded in 2000 and has since built their customer base to over 800,000 households, is expected to raise approximately $600 million in its initial public offering, the Wall Street Journal reports. Vonage has already raised over $380 million from a variety of private venture capital firms including 3i Group PLC, Bain Capital, and Institutional Venture Partners.

According to the Wall Street Journal, Vonage intends to formally announce their intentions of going public to the SEC within the next six weeks.

Analysts are optimistic about the IPO, as Vonage is a major player in the VoIP industry with has more than doubled in the past year, and is expected to experience further growth in the coming years.

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    Edited by Jeremy Maddock