World VoIP Database

Vonage Holdings Corp., the country’s largest Internet telephone service, on Friday more than doubled the amount it expects to raise in its initial public offering and reported record subscriber growth. Vonage, which in February said it expected to sell shares worth $250 million, said in regulatory filing Friday that it planned to sell 31.25 million shares at $16 to $18 each, putting the total value of the offering at around $530 million.

The Holmdel, N.J.-based company has been the leader in selling voice over Internet Protocol, or VoIP service, to the masses. However, its early lead has been narrowing as cable companies, in particular Time Warner Cable, have started marketing VoIP to their own subscribers. But in Friday’s filing, Vonage said it had more than 1.6 million subscribers on April 1. That indicated an addition of 328,000 customers in the first quarter, the company’s strongest ever and a reversal to trend of slowing additions, according to Stephan Beckert , an analyst at the research firm TeleGeography.

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