Dark Side of VOIP, Bankruptcies come to play
GigaOM directed me to a press release by One IP Voice announcing that it has filed for Chapter 11 of the U.S. Bankruptcy Code on Wednesday, December 13, 2006 in Hartford and that, on December 19, 2006, a preliminary order to use cash collateral through December 29, 2006 was entered by the Court. One IP Voice has retained the firm Development Specialists, Inc. of Chicago, IL to assist it in pursuing strategic alternatives.
So this is the scene of a crowded market place. I hope One IP Voice can reorganize as Om Malik say because SMB market and Small voice providers all over the world rely on providers like One IP Voice. Bigger players has enough where withal to absorb losses and continue, like Vonage and Skype do.
Om Malik also guided to me to another eye opening article "85 VOIP service Providers shutdown in 15 months". Some of the companies mentioned were known to me and some were not. But that is 85 companies going out of business and 23 of them were from USA.
I think this is also a good forward looking information because as the market shakes down weaker players and the stronger which is left behind will provide us with better competitive VOIP Service.
Links;
GigaOM (Om Malik's) article
One IP Voice press release, PR Newswire article
85 VOIP providers bite dust
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