Vonage Files For IPO, Has To Ditch CEO
from the no-real-surprise dept
VoIP provider Vonage has filed for an IPO, answering long-running speculation over the company's future. The company says it wants to raise $250 million, this coming after raising $450 million in private money last year alone. One juicy tidbit of the filing is that the company's moved founder and CEO Jeffrey Citron to the position of chief strategist -- citing his settlement with the SEC and NASD over a scam when he worked for online trader Datek "which resulted in extensive fines, bans from future association with securities brokers or dealers and enjoinments against future violations of certain U.S. securities laws". It had been widely believed that Citron was under some sort of restriction like this, though never confirmed by himself or Vonage. The company's filing also says that Citron's previous behavior and subsequent settlement has cost it previous business relationships, and is a risk because of some companies' unwillingness to or policies that prevent them from doing business with people under settlements for securities transgressions. Apart from finally shedding some light on Citron's issues, the prospectus also gave some details on Vonage's business, saying it spends over $213 in marketing on each new subscriber, while it costs the company an average of about $8 per month to serve a subscriber.Thank you for reading this Techdirt post. With so many things competing for everyone’s attention these days, we really appreciate you giving us your time. We work hard every day to put quality content out there for our community.
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Simple Math
Damn good service too, lots of features that the dumb Bells (pun intended) charge a lot extra for.
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Re: Simple Math
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Re: Simple Math
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Same company?
Vonage customer service reps are the first I have ever seen (in any industry) who would actually 'take ownership' of their support issues. For example, something I was doing was going to take a couple of weeks to be ready. The rep I spoke to actually added that date to his calendar and offered to personally handle it when the time came. This is exceptional service and a good example for others.
Another CSR knew something I was asking for would cause a billing issue within their system. They actually took the time to make sure and credit my account for the extra charge before provisioning the service I was asking for. Try that with the normal phone company! In my experience, all of Bells 'extra charge traps' were always bill now, complain later.
I am exceptionally happy with Vonage.
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Re: Same company?
Something is clearly wrong with the company
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Re: Simple Math
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Shares
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simple math?
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Re: simple math?
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No Subject Given
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Re: No Subject Given
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I think they'll do fine
Sure AT&T and others may have name recognition but they are also a slave to their outrageous prices. They will still charge more for the same service that Vonage provides.
I used to have unlimited everything with Verizon for $55 a month. When I told them I was switching they offered to lower the price to $40. That was STILL $15 more than Vonage!
So, I'll be a Vonage customer for a long time to come.
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simple math?
This seems like a very reasonable, AKA win win, prospect. Enlighten me if I am missing something please.
This seems way to fair to the consumer and I suspect Telcos are scrambling to get the feds to screw this thing up.
I am very new to VOIP so I am very interested in other's opinion and feedback.
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are you nuts?
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Re: are you nuts?
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From a customer
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Vonage is a fraud
Just Google: Vonage Sucks
Thousands and thousands of people with the same complaints.
Vonage is a rip-off
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Re: Vonage is a fraud
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Re: Vonage is a fraud
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SCAM FRAUD AND THIEFS
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2 ways to get help/credits
1) Vonage's "Emergency Response Team" with
person that called me back: 888-580-4020 ext 31628 Sultan
GOTO: http://complaint.bbb.org/ and file a complaint with the Better Business Breau of New Jersey, 1700 Whitehorse Hamilton Square, Ste. D-5, Trenton,NJ - 08690-3596.
The comapany is at: Vonage, 23 Main Street, Holmdel, NJ 07733
I hope Vonage is bought out by a company that can manage better, and is more forthcoming. The technology does have merit. But, I did not do my homework (should I have been expected to? I mean they do advertise "It's so easy"), and my experience is the worst I have ever had.
Happy Hunting
PS: How are they doing?
Check out their BBB member page: http://www.trenton.bbb.org/nis/newsearch2.asp?ID=1&ComID=0221000011005249
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Vonage Files For IPO, Has To Ditch CEO
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John
http://clearcell.org
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Vonage sucks
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I do believe however, that Vonage has not lost its vision. They want to provide a revolutionary service and excellent customer service but the market has become more difficult/competitive than expected.
All things considered, they are still a small and agile company compared to the telcos [Verizon?] and have the right vision to adapt to the market.
- Kukk
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Vonage will get taken out in BK auction
So where does that leave Vonage?? Soon to be auctioned off in BK court by my guesstimate.
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Vonage Sucks
Vonage is ahead of its time
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Vonage is a fraud
I had Citibank change the card number.
Vonage is a rip, no doubt.
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Vonage is a rip off
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