If you Google the terms “end of Vonage”, you get back more than 1.2M entries, looking at patent issues, implementation issues, IPO issues. Vonage has survived all of them, so far.
Vonage has been trying to close on $250M of new debt and its timing couldn’t be worse, considering the turmoil in the global financial markets. A story on Telecom Web suggests that Vonage is quickly running out of runway, burning through cash and having challenges renew some of its loans. But last night, Vonage issued a press release suggesting that it has revised terms for about 90% of its original target.
December 16 is the due date on its old debt. Vonage has been on the brink of disaster a number of times. Will the largest pure-play VoIP provider survive once again?
I will be taking time off tomorrow in observance of Yom Kippur. I expect to have my next posting on Friday.
Technorati Tags:
Vonage