New York — VoIP provider Vonage went public yesterday and its retail rival 8x8 announced its quarterly results.
Vonage was hoping to raise $530 million in addition to the $658 million the company has already reaped to date from investors and venture capitalists. The company’s aggressive advertising and promotional campaign have driven over 1.5 million subscribers to the Internet telephony company.
Meanwhile 8x8 announced it had reached the 133,000 subscriber mark, an 18 percent increase since the company last reported results at the end of 2005 and more than double what the company reported at the end of fiscal year 2005.
8x8 wracked up fourth-quarter revenues of $10.3 million, compared with $8.5 million for the third quarter of fiscal 2006. The company suffered a $6.6 million net loss for the quarter, compared with a net loss of $7 million for the same period last year.