NJ TECH CORNER: VONAGE HOLDING CORP.
Company Overview
Vonage Holding Corp. (NYSE; VG) is a global provider of business cloud communications. The Holmdel-based company was founded in 2001 as a provider of residential telecommunications services, later expanding its services to include the business-to-business marketplace. Vonage’s portfolio of cloud-based business communication solutions enable collaboration among employees while also keeping companies connected to customers across all modes of communication and any device. Vonage’s single, microservices- architected software platform, or “One Vonage” includes Unified Communications and Cloud Contact Center solutions, as well as Programmable communications capabilities via Nexmo, the Vonage API platform. Vonage has expanded through a series of strategic acquisitions, which included NewVoiceMedia and TokBox in 2018, as well as organic growth. The company has more than 2,200 employees, with offices throughout the U.S, Europe, the Middle East and Asia.
Investment & Financial Information
| Shares of common stock outstanding (as of April 9, 2019): | 242,415,616 |
| Share price of stock (as of Aug. 2, 2019) | $11.99 |
| Share price of stock (one year ago) | $13.69 |
| Current valuation (as of Aug. 2, 2019) | $2.90 billion |
| Valuation one year ago | $3.24 billion |
| Stock Symbol: | NYSE:VG |
| Net Revenues (as of Dec. 31, 2018) | $1.048 billion |
| Net Revenues previous year | $1.002 billion |
| Net Income ( as of Dec. 31, 2018) | $35.72 million |
| Net Income (Loss) previous year: | ($33.93 million) |
Management Team
| Name | Age | Title |
| Alan Masarek | 58 | CEO |
| Omar Javaid | 47 | President, API Platform Group |
| David T. Pearson | 53 | Chief Financial Officer |
| Jay Patel | *NA | Chief Product Officer |
| Susan Quakenbush | 54 | Chief Human Resources Officer |
| Randy Rutherford | 45 | Chief Legal Officer |
| Rishi Dave | 44 | Chief Marketing Officer |
| Sagi Dudai | 45 | Chief Technology Officer |
| Vinod Lala | 50 | Chief Strategy Officer |
| David Levi | 58 | Senior Vice President, Controller, Principal Accounting Officer |
*Not available
Board of Directors
| Name | Age | Title |
| Hamid Akhavan | 57 | Partner, Twin Point Capital |
| Jeffrey A. Citron | 48 | Chairman, former CEO of Vonage |
| Naveen Chopra | 45 | Former Chief Financial Officer, Pandora Media Inc. |
| Stephen Fisher | 54 | Senior Vice President, Chief Technology Officer, eBay Inc. |
| Carolyn Katz | 57 | Executive Chair, Author & Co. |
| Alan Masarek | 58 | CEO, Vonage |
| John J. Roberts | 74 | Former Global Managing Partner, Price Waterhouse; former COO, Coopers & Lybrand; |
| Gary Steele | 56 | CEO, Proofpoint |
| Michael J. McConnell | 53 | Investor; Director, Adacel Technologies, SPS Commerce, Redflex Holdings Limited, Vitacost.com, Best International Limited |
Noteworthy Control (as of April 9, 2019)
| Name | Shares of common stock owned | % of total common shares |
| Jeffrey A. Citron | 11,455,944 | 4.73% |
| The Vanguard Group Inc. | 25,294,651 | 10.43% |
| Black Rock Inc. | 32,275,483 | 13.31% |
[All information for NJ Tech Corner was taken from the company’s annual reports and proxy statements and other company sources, with the exception of the company’s stock price and valuation.]
