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Use VOIP to call your broker — and sell

Started by mathewi · 10 months ago

And so we return to our story, to find our hero — the plucky little (or not so little) voice-over-Internet company Vonage — finally going public, after much back-and-forthing over the past year about when to issue stock and for how much, or whether to try and convin ... Continue reading »

4 comments

  • Mark Evans

    3 years ago

    mathew,
    what i don't understand is who bought into the IPO and why? i mean, we all knew it was a money-losing dog that has to advertise like crazy to maintain any sense of momentum. yet, they were still able to sell more than $500-million of stock. i mean, what were these investors thinking? did they really believe that they would score if they jumped into the IPO rather than wait and see what unfolded. i mean, vonage isn't like the google IPO where "smart" investors stayed away because they thought it was expensive.
    reply
  • Mathew Ingram

    3 years ago

    Mark, I have to say I don't really understand who bought it either. Maybe all the people like me who said Google was too expensive, and missed the boat :-)

    Seriously though, I don't know who bought it, but it was obviously people who didn't really pay much attention to any of the market research or commentary out there. Maybe it was Vonage users who bought stock through the special offer they did, and then dumped it.

    My hunch is that it was probably fund managers looking to make a fast buck by dumping it after the first-day pop, except that they didn't get one.
    reply
  • Heather Hopkins

    3 years ago

    Matthew, great to find your blog. I am a Canadian living in the London (the one in the UK) and still read the Globe online. Anyway, I blogged about Vonage this morning in response to the float. In my post I compare visits to Vonage's website to that of Skype (in the UK of course). Skype receives 8.5 times more visits than Vonage and Vongage has not really seen a whole lot of growth in the past few months, while Skype continues to climb. The new partnership between Skype and Bebo seems to have really paid off.
    reply
  • Mathew Ingram

    3 years ago

    Thanks for the comment, Heather. It's always nice to have another international reader. And thanks for pointing me to your post at Hitwise -- those are some interesting stats.

    Mathew
    reply

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