Fergie's Tech Blog

Vonage Customers Upset as Stock Deal Hits a Snag

Yuki Noguchi writes in The Washington Post:

Vonage Holdings Inc. hoped to show its Internet telephone customers how much it valued them by making many eligible to buy shares in the company's public offering last week. The idea backfired: Customers who lined up to buy those first public shares got burned, as the price of the stock has fallen 26 percent.

Now many are outraged, not only by the stock's poor performance but also by what they say were glitches in Vonage's unusual effort to include customers in its IPO.

posted by Fergie @ 5/31/2006 06:45:00 AM