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Report--VONAGE FILES 250 Million IPO

According to a Dow Jones report, Vonage has filed their IPO and S-1.

Here's the filing via the SEC.

This is for a lot less than the money people were originally expecting VONAGE to raise, and given their last two rounds, one has to wonder what the valuation is for the entire company.

Also, Jeffery Citron steps down as CEO Michael Snyder takes over. Snyder signed an agreement and will join the Vonage board of directors and become its Chief Executive Officer. Mr. Snyder was the President of ADT Security Services, Inc., a subsidiary of Tyco International Ltd., from 1997 to 2006. He is expected to assume his duties with Vonage on February 27, 2006.

Citron takes a global role for Strategy as Chairman.

They are also claiming that in 2005 that it cost a $213.77 per customer for customer acquisition, and is a lot lower than many, including I have suggested. I'm not saying any of us are wrong, but its likely how Vonage accounts for acquisition. I'm also factoring in the shipping, cost of the TA and more.

Still this is a interesting, sober move and will help set the market for VoIP companies going forward.

P.S. May I gloat? If you recall I advised readers of this back on January 19th. Here's the link to the post.