Vonage having trouble selling stock?
Ok, this is getting ridiculous. In the last 24 hours, I’ve received at least three distinct offers (via three different forms of communication) from Vonage to get in on their IPO, an offer being made to existing customers who meet a certain set of criteria. While this certainly sounded tempting when I got the first notification via e-mail yesterday, especially to someone who was investing in the market “back the the day” when “tech IPO” meant “gravy train to the bahamas,” by the time I got my second notification in the PO Box this morning, I started scratching my head. When I got to my desk and saw I had a voicemail (on my Vonage line) from midnight last night courting me with the same offer, my Pavlovian response had diminished and, frankly, I was getting a bit parched.
Are they having trouble moving these things? Do you think the fact that they lost more than US$261 million last year might be a warning sign? I dunno. Just seems strange to me to have them pushing this hard here. The Motley Fool actually has a good take on this, which is worth a read.
For the record, I’ve been a very happy Vonage customer for about 18 months now, and — assuming you have good cable/DSL service — it works great… I highly recommend it. But that doesn’t mean I want to risk the 401k on their company.
