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Vonage history
Vonage company history timeline
2001 Vonage is founded.
The company changed its name to Vonage Holdings Corp. in 2001.
2002 Vonage's Internet-based telephone service is launched in March.
Service Beginning in 2002
Pulver left the company in 2002 to start another VOIP venture.
He gained another $35 million in financing in 2003, enabling him to launch a $15 million national campaign during the year that consisted of radio and television commercials.
AT&T launched its own web-based telephone service, CallAdvantage, in March 2004.
Verizon, branding its service VoiceWing, entered the market in July 2004.
He raised a total of $145 million in two rounds of financing during 2004 and used the money to add as many new subscribers as possible.
In 2005, a year during which $200 million was raised in the company's fifth round of financing, Citron ventured into the wireless arena, hoping that a broader attack on the voice-service market would improve the company's chances of success.
Typically, only large institutional investors such as banks are able to buy shares of an IPO. Vonage's initial public offering occurred on the New York Stock Exchange on May 24, 2006, opening at $17 per share.
In 2006, in preparation for an initial public offering, Michael Snyder, former president of ADT Security Services replaced Vonage co-founder Citron as CEO. Citron could not preside over the IPO because he was permanently barred from associating with any securities brokers or dealers.
In 2007, in an apparent restructuring effort to reduce ongoing net losses in the face of double-digit stock price slips and patent infringement issues, Snyder resigned, and Citron returned as interim CEO. The company announced plans for 10% layoffs as it secured $215 million in financing.
In 2009, Vonage reached an agreement with the IPO investors.
Beginning in 2013, Vonage acquired several companies as it refocused its business from a home phone provider to a global business cloud communications provider, including:
On 22nd November 2021 it was announced that Vonage would be acquired by Ericsson.
The acquisition is a 6.2 billion USD all cash purchase and is expected to close in the first half of 2022, subject to Vonage shareholder approval, regulatory approvals, and other customary conditions.
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Vonage competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| AT&T | 1983 | $122.3B | 230,000 | 3,208 |
| Verizon Communications | 1983 | $134.8B | 132,200 | 25 |
| 1998 | $350.0B | 139,995 | 3,718 | |
| Qwest | 1996 | $11.4B | 30,000 | - |
| Neustar | 1996 | $1.2B | 1,800 | - |
| Motorola Solutions | 1928 | $10.8B | 18,000 | 537 |
| Juniper Networks | 1996 | $5.1B | 9,400 | - |
| Citrix | 1989 | $3.2B | 9,000 | 6 |
| Ooma | 2004 | $256.9M | 684 | 8 |
| Workday | 2005 | $8.4B | 12,500 | 140 |
Vonage history FAQs
Zippia gives an in-depth look into the details of Vonage, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Vonage. The employee data is based on information from people who have self-reported their past or current employments at Vonage. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Vonage. The data presented on this page does not represent the view of Vonage and its employees or that of Zippia.
Vonage may also be known as or be related to Vonage, Vonage Holdings Corp and Vonage Holdings Corp.