Vonage IPO disconnects users from wallets
If you're going to offer shares in an initial public offering to your customer base, pray for a first-day pop. That's the conclusion Henry Blodget reaches after watching Vonage's shares sink below their offering price of $17. Vonage reserved 14 percent of its shares for customers, but instead of creating customer loyalty, "if the stock continues tanking ... Vonage customers who love the VOIP service will feel nothing but bile toward the company," Blodget writes. (Blodget, one should note, knows a thing or two about tanking stocks from his days as an Internet analyst.)
Posted by Owen Thomas 10:55 AM 0 Comments comment | Add a Comment

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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer.

Morningstar: © 2014 Morningstar, Inc. All Rights Reserved.

Factset: FactSet Research Systems Inc. 2014. All rights reserved.

Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.

Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2014 and/or its affiliates.