Web Hosting Talk : Web Hosting Main Forums : Specialty Hosting and Markets : Vonage Bankrupt?

[M3TechSolutions]

Well, I am sure most of you heard that Vonage has gone bankrupt, but I am just curious how they handled it. Did they give time to find another provider, or did they cut and run like Amp'd Mobile did?

Amp'd basically told their customers that they won't have a cell phone provider in 3 hours. Just curious if Vonage did the same thing.

Cody

[fastdeploy]

Originally Posted by M3TechSolutions

Well, I am sure most of you heard that Vonage has gone bankrupt

Uhh... really? Source?

[PogiWeb]

http://www.betanews.com/article/Vona..._Us/1176907519

[FHDave]

where did the article say vonage has gone bankrupt?

[PogiWeb]

The definition for gone is "to move or proceed". So when he posted Vonage has gone Bankrupt he was simply stating that Vongage has proceeded to go bankrupt.

[fastdeploy]

Originally Posted by Matt.G

http://www.betanews.com/article/Vona..._Us/1176907519

Could != Did.

What am I missing? This is old news related to their SEC filings.

[(Stephen)]

yes this is from the Aug 9th SEC filings as posted on their website. They ARE NOT bankrupt now, and in fact had better financial reports last quarter than some previous.

Edit: eh! its even older than that, but again in Au 9 it was mentioned.

[linux-tech]

IF (big if) Vonage goes bankrupt, or the court stays the opinion , then this will mean more of a monopoly for Ma Bell, which is JUST what they want.

Of course, a few things to keep in mind here:
Firstly, this is a legal battle, and not a "criminal" suit, but a "civil" suit, as no criminal judgements are being pursued, because no criminal actions have taken place.

Because this is a legal battle, and due to the nature of these , this won't be decided any time soon. Once a decision is made, it will be appealed, and again, and again, and again. This is just a tactic by Verizon to try to scare individuals away from their true competition, nothing more.

Is Vonage bankrupt? Considering they're still accepting new customers and providing services paid for, I'd say most definitely not. Are they under financial pressure? Of course. Verizon has been around a good deal longer than Vonage, has more of the capital reserve to go through these, and THAT will decide the legal battle more than anything.

Even if they lose this lawsuit, Vonage says they have methods in place to cover their customers. Of course this is only what THEY say, but come on, it'd be hard to be in business this long, and ignore this lawsuit responsibly.

I've been with vonage for 3 years now, and I've got to say that $30/month for unlimited calling/ld/etc is absolutely ASTOUNDING. I've had no issues at all with teir service, and don't anticipate any.

[Cirtex]

Was very surprised when I saw this thread title, glad they're going anytime soon since I still have yet to try their service

[M3TechSolutions]

Wow I thought this was a public thing, maybe not. I work at a Consumer electronics retail store where we offered Vonage products and sign-ups.
Well I went to work the other day and we were told to pull all of the vonage products off of the floor, and that signups were no longer allowed. We got a 1-800 number to give customers with questions about their service, rebates etc.

As of far this is the latest publicated article I could find.

http://www.technewsworld.com/story/56959.html


Cody

EDIT: I will grab a copy of our ad corrections letting people know about it when I am at work.

[(Stephen)]

Cody,

Date check:
Part of the ECT News Network
04/18/07 1:26 PM PT

same general time as previous.

vonage is a public company now, they can't just go bankrupt in the night and it be hidden.

[IGobyTerry]

Originally Posted by M3TechSolutions

Well, I am sure most of you heard that Vonage has gone bankrupt, but I am just curious how they handled it. Did they give time to find another provider, or did they cut and run like Amp'd Mobile did?

Amp'd basically told their customers that they won't have a cell phone provider in 3 hours. Just curious if Vonage did the same thing.

Cody

So, I just checked Pacer. No bankruptcy for as of today. I'll put it on my watch list though.

[linux-tech]

Well I went to work the other day and we were told to pull all of the vonage products off of the floor, and that signups were no longer allowed. We got a 1-800 number to give customers with questions about their service, rebates etc.

That simply means that the company you're working for/with has ended their relationship with Vonage. This isn't surprising, due to the lawsuit, and initial ruling. Of course, this is all going to be tied up in a legal battle that will be very very long, undoubtedly.

As of far this is the latest publicated article I could find.
http://www.technewsworld.com/story/56959.html

Over 4 months old there, just around the time of the ruling, which of course stated "no signups". This of course has been appealed, and they have been allowed to continue new signups during this appeal process. Of course, if they weren't, it would be detrimental to Vonage itself.

Next time, you might want to post a bit more up to date information. 4, 5 months old is rather old.

[M3TechSolutions]

Like I said that was information I found online. Not my primary source. And usually they companies on the verge of going bankrupt don't hand out phone numbers to find out whats going to happen with their service, rebates etc. I will scan a copy of the statement once I get it from work, plus I will hopefully get the original statement from Vonage.

We wouldn't have just ended our relationship with vonage, it was a big money maker for us, we got a pretty decent incentive for vonage signups plus a high PMI on the hardware.

Cody

[linux-tech]

We wouldn't have just ended our relationship with vonage

A lot of people did after the ruling, big money or no, because they did not want to deal with the mess years down the road. Again, you're going off of information that is not new at all.

Vonage can not continue to accept "new customers" if they're going bankrupt at all. They warned that they MAY go bankrupt, back in what, APRIL? However, their financial statement (posted Aug 9th, mind you) shows that they're doing good, and that they're making a good bit of headway.

Again, you're talking old news, spreading false rumours. Next time, you might want to provide a bit more "official" source. Vonage is not, and has not gone bankrupt. In order to do so, as a publicly traded company they have to take a number of steps, and there would be a good deal of notification. Of course, they STILL wouldn't be accepting new signups (which, btw they are) if they were going bankrupt.

Your company, for whatever reason, chose to end it's partnership with Vonage. This isn't an indication that they're bankrupt, it may be individuals waiting to see what happens from the ruling, whatever, but it's NOT an indication that vonage is going bankrupt, is bankrupt, or anything of the like.

As well, as shown in the report (see above url), Vonage is making progress in the area of the lawsuit, so if they DO lose, they have a backup. Again, hardly an indication of a "bankrupt" company.

Vonage is possibly, if not DEFINITELY the largest in the VOIP industry. I doubt very seriously that with the number of customers they have that they're going to just go "bankrupt" without any notification.