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).
He recruited Jeffrey A. Citron and Carlos Bhola, who each invested $1 million and joined as board members.
[18] 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.
[20][21][22][23] In 2007, in a restructuring effort to reduce ongoing net losses in the face of double-digit stock price slips and patent infringement issues, Snyder resigned, and Citron returned as interim CEO.
[27] Vonage's initial public offering occurred on the New York Stock Exchange on May 24, 2006, opening at $17 per share.
[30][31] The amount of the settlement, $3.6 million, was paid by an insurance policy covering the directors and officers of the company.
[32][33][34] The firms underwriting the IPO, Citigroup, UBS, and Deutsche Bank, were fined a total of $845,000 and ordered to reimburse customers for "failure to adequately supervise communications" with investors.
[36] Beginning in 2013, Vonage acquired several companies as it refocused its business from a home phone provider to a global business cloud communications provider, including:[37][38][39] On 22 November 2021, it was announced that Vonage would be acquired by Ericsson in a US$6.2 billion all-cash purchase.
Vonage was also ordered by the court to stop signing up new customers,[58] but this was stayed pending appeal three weeks later.
In the settlement, Vonage agreed to pay the seven investigating states $3 million for costs, issue refunds to complainants dating back to January 2004, and change several business practices in regard to advertising and customer retention.
[64][65] Originally known for its home VOIP services, Vonage has shifted its primary focus to business cloud communications in the mid 2010s.
[66] For business customers that rely on high quantities of voice, video and data communications in their day-to-day operations, Vonage provides quality of service over its own private Multiprotocol Label Switching (MPLS) network and via a Software Defined Area Network (SD-WAN) product.
Usage is generally referred to as "unlimited", though Vonage has different national "fair use" policies limiting Vonage-to-phone calls to a few thousand minutes per month in the UK,[77] Canada,[78] and U.S.[79] Evidence suggests that calls are limited to a length of 3 hours and 56 minutes.
[81] For 911 location services to work, subscribers must activate the 911 calling feature by registering their full address with the company.
[83][84] VoIP service relies upon consistent broadband-ISP uptime and VoIP-equipment compatibility with the ISP's modem.
The program focuses on creating a more diverse workforce in the technology industry by providing virtual classes for high school STEM students for free.