How badly Vonage wants to make its IPO a success can be judged from the fact that it has started sending unsolicited spam VoIP messages to its customers asking them to buy their stock. This was reported by Silicon Valley Sleuth. The messages were sent via an audio email attachment and even to customers who didn't utilize Vonage voice mail service. These messages followed email messages which were sent by the company earlier this week with a similar message.
We are already aware of the fact that when Vonage was filing for its IPO, its founder and CEO Jeffrey Citron was relegated to the post of chief strategist as SEC had certain issues with him. The company is already facing tough competition from other VoIP providers and cable companies and is already bleeding with a net loss of $85m over the most recent quarter on revenue of $119m.
My advice: With the situation Vonage is in, it is better to give your money in charity rather than investing in its IPO, at least there you would have a chance of earning some blessings if not money as the future of this IPO's success looks in doldrums.
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