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CEO Claims Vonage Will Hit 1 Million Subscribers By Year's End

CEO tells Reuters that firm currently has 700,000 subscribers, and adds new ones at the rate of 15,000 per week.

VoIP provider Vonage will have move than one million subscribers by year's end, Chief Executive Officer Jeffrey Citron has told the Reuters news agency. Citron claims that Vonage currently has more than 700,000 subscribers, and adds approximately 15,000 new subscribers a week.

"When you look at our pace of growth in that first quarter and what we're publicly stating in the second quarter, you forecast that out and Vonage will easily clear the million customer mark before the end of the year," Citron told Reuters at the 2005 Canadian Telecom Summit in Toronto.

The Reuters report says that Vonage added 249,000 subscribers in the first quarter of this year, which was up from 114,000 in the fourth quarter of last year. Citron told Reuters that growth will temporarily slow, and then accelerate at year's end.

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