|Exchange:||New York Stock Exchange|
|Stock:||Vonage Holdings Corporation|
|Vonage Holdings Corp. was incorporated in Delaware in May 2000. The Company is a provider of broadband Voice over Internet Protocol (VoIP) telephone services to residential and small office and home office customers. It launched service in the United States in October 2002, in Canada in November 2004 and in the United Kingdom in May 2005. It is a pure-play provider of broadband telephone services to residential and small office and home office customers with over 2.6 million subscriber lines as of December 31, 2008. While customers in the United States represented 95% of its subscriber lines in 2008, it continues to serve customers internationally with services in Canada and the United Kingdom. The Company’s service is portable and it enables its customers to make and receive phone calls with a telephone almost anywhere a broadband Internet connection is available. It transmits these calls using Voice over Internet Protocol, or VoIP, technology, which converts voice signals into digital data packets for transmission over the Internet. At a cost effective rate, each of its calling plans provides a number of basic features typically offered by traditional telephone service providers, plus a range of enhanced features that differentiate its service and offers an attractive value proposition to its customers. The Company also offers a number of premium services for additional costs. It has developed both a direct sales channel, as represented by web sites and toll free numbers, and a retail distribution channel through national retailers including Best Buy and Wal-Mart. The direct and retail distribution channels are supported through highly integrated advertising campaigns across multiple media such as online, television, direct mail, alternative media, telemarketing, partner marketing and customer referral programs. The Company offers its broadband telephone services to customers through a number of service plans with different pricing structures. All of its service plans include an array of both basic and enhanced features, and customers have the opportunity to purchase a number of premium features at an additional fee. In order to access its service, a customer need only connect a standard telephone to a broadband Internet connection through a small Vonage-enabled device. After connecting the device, its customers could use their telephone to make and receive calls. The Company faces competition from incumbent telephone companies, cable companies, alternative voice communication providers and wireless companies. The main competitive factors affecting its ability to attract and retain customers are price, call quality, reliability, customer service and enhanced services and features. The Company has been involved in a considerable amount of state and federal regulatory activity.|
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