Vonage would be offering a directed share program for its customers as a part of its upcoming IPO which would allow them to buy shares at IPO prices. Now everybody cannot get them, those who would like to grab these shares should have opened an account with Vonage America on or before December 15, 2005. , should be an American citizen and must be residing in the country when the offer closes. One can buy between 100 and 5,000 shares in the company between a price of $16 and $18 per share.

Customers are not required to continue to be Vonage account holders in order to participate in this program. It has been seen that Directed share programs are generally offered to company employees, relatives and other people who are having a relationship with the company for purchasing stock as a part of the public offering.

The shares would be offered the day trading starts to their customers of record as of February, 2006. This is certainly a way of making their stock in demand. It is already being speculated that the IPO would be difficult to sell as the company is already facing competition from other players who are bundling VoIP with other services and the company is trying to woo its customers with its share offering in order to make their IPO a big success. Let's see whether the arrow would hit the bull's eye or not