SINGAPORE--San Francisco-based Pagoo Inc today announced its expansion into the Asia Pacific region with the opening of its new office in Shanghai.
The IP-based voice applications software and solutions provider hopes to capture the fast-growing Asian Voice over Internet Protocol (VoIP) market with this move.
In a statement, Pagoo cited industry analysts' reports which predicted that the VoIP market in Asia Pacific would see dramatic growth over the next two years. The region is expected to clock more than 4.5 billion VoIP international minutes by 2003--12 percent of total international outbound traffic.
During this period, China alone will see a 200 percent growth in VoIP revenue due to the deployment of new IP infrastructure and VoIP services, according to the statement.
Pagoo vice president of international operations Michael Hughes said the company is aiming for markets which are “most receptive to its VoIP solutions”, and the Asia Pacific region fits the bill.
The new Shanghai office will provide additional sales and technology resources to Pagoo's customers and partners in the region. Among Pagoo's customers are Tiscali, the second-largest ISP in Europe, and AT&T Worldnet.
The company will also open other Asian offices, in Singapore and Hong Kong, in the next few quarters, said Pagoo Asia Pacific business development manager Steven Yeong.
Pagoo’s Asian expansion and continuing VoIP solutions development will be supported by its fourth round of funding worth US$30 million.