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Venture Capital
by tj on August 26, 2005
"Vonage, which provides residential phone services over the internet, is planning an initial public offering to raise as much as $600m, The Wall Street Journal reported on Thursday.Vonage has never been shy and is sometimes even over marketed (too many people find their service offering too often) - but apparently there has always been an even bigger round coming. Let's see if that pays off for investors.
Citing a person familiar with the matter, the newspaper said Vonage had already raised more than $400m in venture capital from firms that include 3i Group, Bain Capital and Institutional Venture Partners.
There was no immediate comment from the Edison, New Jersey-based company, which declined comment to the Journal.
Vonage provides cheap local and long-distance phone services to about 800,000 households, making it the largest US internet-based phone company. It is currently also making a major push in the UK."
Permalink: Vonage plans IPO
Trackback: http://publish.creative-weblogging.com/publish/mt-tb.pl/8727
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