Another Day, Another Angle To Vonage's Bungled IPO

from the i-p-oops dept

Every day seems to bring yet another tale of ineptitude from Vonage's horrifically performing and poorly executed IPO. It began with reports of bugs in the share allocation process and then went to a flip-flop on whether or not disappointed customers would actually have to pay for the shares they'd committed to purchase, but it's a little older issue that's the source of the latest story. Vonage got dinged for a technical violation when it solicited its customers with an offer to get in on the IPO, and the company now says those errors could make the sale an illegal offering, allowing buyers to claim damages or get the company to buy back their shares. The company claims it has a strong defense against such charges, but it's inevitable that this whole thing is going to end up in court -- assuming the naysayers aren't right and Vonage can stay in business that long. This IPO has pretty much been a mess from top to bottom, and it's a fair question to wonder how much good it's ultimately going to do the company.

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  1. identicon
    Nyle, 2 Jun 2006 @ 1:12pm

    Re:

    I pay $15 a month to Vonage for 500 anywhere minutes and all the other perks like Voicemail, caller id, etc. That's almost have your vill. Assuming your nothing service means you use less than 500 minutes a month. You actually have to use something like 700 minutes a month to justify the unlimited plan. Otherwise, it's cheaper to do the $15 plan and pay for any minutes over the 500.

    I've been with Vonage for like 2 years now and have been very happy. Of course I've never needed to contact them for anything because it just works for me.

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