Vonage

Vonage (ˈvɒnɪdʒ, legal name Vonage Holdings Corp.) is an American cloud communications provider operating as a subsidiary of Ericsson. Headquartered in Holmdel Township, New Jersey, the organization was founded in 1998 as Min-X as a provider of residential telecommunications services based on voice over Internet Protocol (VoIP). In 2001, the organization changed its name to Vonage. As of 2020, Vonage reported consolidated revenues of $1.25 billion. Through a series of acquisitions beginning in 2013, Vonage, previously a consumer-focused service provider, has expanded its presence in the business-to-business marketplace, while still keeping its home VOIP service. Vonage's offering includes unified communications, contact center applications and communications APIs. In July 2022, Ericsson completed its acquisition of Vonage for$6.2 billion. Min-X.com was founded by Jeff Pulver in 1998 as a Voice over IP (VOIP) exchange. He recruited Jeffrey A. Citron and Carlos Bhola, who each invested $1 million and joined as board members. Citron and Bhola then raised approximately$11 million in additional funding, pivoted the company to being a VOIP service provider, and Citron took over as CEO and Bhola as President. The company changed its name to Vonage Holdings Corp. in 2001. When the name was changed the company was located in Edison, New Jersey. In 2005, the organization relocated its headquarters to Holmdel, New Jersey. Pulver left the company in 2002 to start another VOIP venture. The company first offered subscription service in the United States, then expanded to Canada in 2004 and the United Kingdom in 2005. Vonage went public on May 24, 2006. In 2006, in preparation for an initial public offering, Michael Snyder, former president of ADT Security Services replaced Vonage co-founder Citron as the organization's CEO. Citron could not preside over the IPO because he was permanently barred from associating with any securities brokers or dealers.