- With voice providers focusing in various ways to expand in business markets, Vonage Holdings (NYSE:VG) says there's still a ton of territory to claim with smaller/medium businesses.
- The company's looking to the cloud for that, particularly Unified Communications as a Service (UCaaS), which CEO Alan Masarek says is underserved.
- "UcaaS today is only a 15%-penetrated market so the sale that a cloud PBX provider makes is, I am offering you no hardware, lower operating cost and infinite scalability," Masarek said at Cowen's Technology, Media & Telecom Conference.
- He added the company doesn't run that much into situations where it must sell against competitors like RingCentral (NYSE:RNG), though, but rather business that aren't using cloud services yet.
- Vonage says while competitors focus on enterprise, it's signing up 2,500-3,000 new customers each month.
- Comparing business vs. consumer at Vonage, business average monthly revenue per seat was up sharply in its Q1, to $43.05 from Q4's $34.28. Business revenue grew 120% Y/Y.
- Previously: Business revenue growth drives Vonage to Q1 beat (May. 06 2015)
Vonage: Large opportunity with cloud services for SMBs
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| Symbol | Last Price | % Chg |
|---|---|---|
| ERIC | - | - |
| Telefonaktiebolaget LM Ericsson (publ) | ||