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Vonage Hits One Million Subscribers

Vonage Holdings announced Tuesday that it has placed one million lines of its VoIP offering into service.

The start-up firm is the U.S. leader in a rapidly growing field of companies offering paid broadband Internet telephone service. In a statement, Vonage chairman and CEO Jeffrey Cintron said: “In a very short time, Vonage has woken up a dormant televommunications industry.”

The firm, which has raised more than $400 million in financing, is said to be planning to raise $600 million in an IPO.