Andy found it first and I am pointing to it - the Vonage filed for an IPO. Here is the SEC document. Cannot find out how much the company plans to raise, but the big news is “Jeffery Citron steps down as CEO Michael Snyder takes over. Snyder signed an agreement and will join the Vonage board of directors and become its Chief Executive Officer.” The past catches up with Jeffrey.
Our revenues were $18.7 million in 2003, $79.7 million in 2004, and $174.0 million for the nine months ended September 30, 2005. While our revenues have grown rapidly, we have experienced increasing net losses, primarily driven by our increase in marketing expenses. From the period of inception through September 30, 2005, our cumulative net loss was $310.0 million. Our net loss for the nine months ended September 30, 2005 was $189.6 million. During the same nine-month period, our marketing expenses were $176.3 million.
More later!
4 comments so far
10:18 AM PT
250 million raise
400 million raised in equity so far and 300 in debt -
yowzer
1:14 PM PT
Vonage Files For IPO - Are You Gonna Invest?
Om Malik has spotted that Vonaage has just filed for an IPO. I might get a copy of the SEC document as I’m sure it will be interesting to see how they plan to spend the millions they intend to raise. So far, despite spending millions on ma…
1:39 PM PT
[...] The good news is that there is a big shakeout in progress at the top- the CEO, Michael Citron (see the post below) has been terminated. Also, Vonage is bleeding cash, with a loss of $310 million since inception, and $176 million spent on marketing from 1/1/05 to 9/30/05 (thanks Om). [...]
2:59 PM PT
spending $8.31 PER customer Per Month
so, I guess its SAFE to bet the Pricing an independent pays Level3 from here on out!
Skibare
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