Falcon's Invoice Discounting: Your Path to Prosperity
VoIP Research
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5. Type Sub-type Market players PC-PC Skype Kubao MSN, Google Talk Every IM software PC-phone SkypeOut iPhox Nearly every VoIP software Phone-PC SkypeIn Nearly every VoIP software Phone-Phone Phone card 17909 Phone Adapter IP Telephone Vonage Cisio Avaya
6. Type Sub-type Market players Software based Skype, iPhox Kubao, 263 ETelephone Hardware based IP Telephone Vonage, Cisco, Verizon, Microsoft, Siemens, Avaya, 华为 , 共业 Hardware for business (media gate, IP PBX) Hardware for personal (Wi-Fi phone) Skype Web based Jajah 263 E 呼通
13. Source: Ebay 2007Q1 10-Q file and other internet sources Q1 2006 Q2 2006 Q3 2006 Q4 2006 Q1 2007 Revenues (in millions) 35.16 44.16 50.02 63.42 78.53 Current quarter vs prior quarter 42% 26% 13% 27% 24% Current quarter vs prior year quarter -- -- -- 156% 123% Registered users (millions) 95 113 136 171 196 Current quarter vs prior quarter 27% 20% 20% 26% 24% Skype to Skype Minutes (in billions) 6.9 7.1 6.6 7.6 7.7 Skype Out Minutes (in billions) 0.7 0.9 1.1 1.5 1.5
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15. Year Event 2001 Founded by Jeffery, raised $12mn series A 2003 $15mn series B 2004 $40mn series C $105mn series D 2005 $200mn series E $250mn convertible debt 2006 $531mn IPO, discounted nearly 10% on the first trading day Today Market cap is $ 498.95mn from Yahoo! Finance
16. Source: Vonage 2007Q1 10-Q file 2007 2006 Subscriber lines 2.4mn 1.6mn Average monthly customer chum 2.4% 2.1% Average monthly revenue per line $28.31 $27.85 Marketing costs per gross subscriber line addition $273 $209 Gross revenue $196mn $120mn Net loss $73mn $82mn Employees 1729 1416
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20. Services Conference Call Scheduled Call SMS Dynamic Buttons Tools Mobile WEB Outlook/Firefox Plugin Embedded in iotum Smartphone Software Call me from my website Web based VoIP Technology
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22. Target Bidder Comments Skype www.skype.com Ebay Founded by Friis and Zennstrom in 2003, acquired in 2005/09, $4.1 billion Dialpad Communication voice.yahoo.com Very similar with Skype Yahoo Founded in 1999, with over 400 emplyoeers, acquired in 2005/06, amount undisclosed Teleo Very similar with Skype Microsoft Founded in 2003, with employees less than 25, acquired in 2005/08, amount undisclosed Sipura VoIP hardware manufacturer Cisco Acquired in 2005/04, $68 million VoIP 论坛 www.voip86.com China 通信网 www.c114.net Founded in 2003, acquired in 2006
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