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.]

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