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Article: Loss Lessens But Vonage Growth Stalls As Next Lawsuit Looms.
- Article from:
- TelecomWeb News Digest
- Article date:
- August 9, 2007
CopyrightCOPYRIGHT 2007 T3i Group LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Vonage, mainly because it's slashed marketing costs, says it's cut its losses by more than half. However, its new-subscriber signups have plummeted by 78 percent.
The industry's largest "pure play" VoIP provider also claimed to be rolling out workarounds for the Verizon patents it was convicted of violating - but yesterday, it lost a key ruling in a looming patent suit against it by Sprint Nextel.
The mixed messages were enough for investors to decide to take a chance on Vonage, pushing prices today up by more than 10 percent. Still, that's only $2.50, compared with the $17 at which Vonage IPO'd last year. Last week, the shares had fallen to as ...