TeleGeography Update: Vonage IPO
 Vonage is widely expected to file for an IPO in the coming weeks -- in fact, published reports indicate that they have already decided on the lead underwriters for the offering.
The data and analysis below were excerpted from the Q2 update pack for TeleGeography's US VoIP Report, which provides current subscriber and revenue figures. Please also see below for a link to the Executive Summary and additional information.
- Vonage was the leading voice-over-broadband (VoBB) service provider in the US at the end of the second quarter, accounting for approximately 28% of US VoBB subscribers.
- VoBB subscriptions have grown dramatically, from 440,000 in the second quarter of 2004 to 2.7 million in the second quarter of 2005.
- Annual VoBB revenues in 2004 were approximately $250 million and are expected to exceed $1 billion in 2005. In fact, VoBB growth has been so rapid that revenues in the 2nd quarter of 2005 alone exceeded annual revenues in 2004.
- Cable MSOs -- most notably Time Warner and Cablevision -- reported blistering growth in 2005, and now collectively count more subscribers than Vonage. While Vonage no longer dominates the market, the company's growth has been remarkable by the standards of any industry: Vonage's subscribers have more than tripled in the past 12 months.
- VoBB providers still only represent only about 3 percent of the fixed-line voice market: at the end of 2004, there were approximately 93 million residential ILEC lines in service in the United States.
To learn more about this area of research and related services and to see an executive summary of this report, please visit our web site:
http://www.telegeography.com/products/us_voip/
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