They came out today and said that they will buyback shares from the underwritters (which was an official media release from Vonage, not just a rumor...
"In a statement issued to CNBC on Sunday, Vonage said it would repurchase those shares from the underwriters if some of its customers refused to pay for them.
No one at Vonage could immediately be reached for comment."
-Well no kidding no one could be reached, has anyone ever been able to reach a single person at Vonage in a timely fashion??
Vonage has turned from a promising young startup with a great idea to the a textbook example of management without a rudder in the water. Real Sad.
They came out today and said that they will buyback shares from the underwritters (which was an official media release from Vonage, not just a rumor...
"In a statement issued to CNBC on Sunday, Vonage said it would repurchase those shares from the underwriters if some of its customers refused to pay for them.
No one at Vonage could immediately be reached for comment."
-Well no kidding no one could be reached, has anyone ever been able to reach a single person at Vonage in a timely fashion??
Vonage has turned from a promising young startup with a great idea to the a textbook example of management without a rudder in the water. Real Sad.
I am not sure where you are getting that from, but it is not listed as an official release from Vonage.
The gross mis-information in the press over the past two days is appalling.
I hope Vonage will realize how bad this is in the public relations perspective. The money that the company spent to attract new customers can easily go down the drain as this bad publicity continues. I hope Vonage will look at the bigger picture and clear up this mess that they are in right now before more and more customers get turned off.
I hope Vonage will realize how bad this is in the public relations perspective. The money that the company spent to attract new customers can easily go down the drain as this bad publicity continues. I hope Vonage will look at the bigger picture and clear up this mess that they are in right now before more and more customers get turned off.
The fact is that 99% of Vonage's customer signed up for the service because of some Woo Hoo - People Do Stupid Things Ad and were told they would save 50% off their phone bill. Those same 99% people have no clue what an IPO is and never will.
For all those people complaining that they are losing money left and right, it is time for you to wake up and smell the roses.
When you agreed to buy shares of Vonage, each investor should have done the following:
1. Read the SEC filings and company proxy statements regarding the state of the company.
2. Read the financial statements and figure out what the P/E ratio, book value, and Cash Flow estimates were, and use information to figure out some fair value estimate per share for the company.
3. Based on this information an investor should have been able to decide whether $17/share was a fair price for a piece of the company.
If any of you did not do the previously stated steps at a bare minimum, then you will lose money in any stock you purchase.
Furthermore the stock has only been trading for a few days. The problem was that people saw dollar signs in their eyes and expected to get a quick profit. Thats not how it works. Any time a stock is purchased, the investor should be purchasing it for the long haul of 3 - 5 years. In 3 -5 years the stock might be worth 50 dollars a share, who knows....
In the mean time if you agreed to pay for the stock and are choosing not to, I hope Vonage uses all legal means possible to persue that money in the name of the other shareholders.
dconnor Site Admin
Joined: Mar 05, 2003 Posts: 2251
Location: The Beach
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I hope Vonage will realize how bad this is in the public relations perspective. The money that the company spent to attract new customers can easily go down the drain as this bad publicity continues. I hope Vonage will look at the bigger picture and clear up this mess that they are in right now before more and more customers get turned off.
The fact is that 99% of Vonage's customer signed up for the service because of some Woo Hoo - People Do Stupid Things Ad and were told they would save 50% off their phone bill. Those same 99% people have no clue what an IPO is and never will.
I do not agree with that statement, because frankly I think most of their customers, which tend to be more technically inclined, are probably watching the price free fall, and watching the relative quiet from Vonage. That's what made me check out a competitors offering yesterday, because I'm not sure if Vonage will be around long enough, and I'm kind of sick of dealing with them. At first, being techie at home was a novelty, but I get too much of that at work, and I want the Ron Popeil style of communications when I'm at home, as in "Set it and Forget it."
At this time I would like to remind everyone that:
This Site is exclusively owned & operated by 4Sight Media LLC & is no way endorsed, sponsored, provided, owned or otherwise controlled by Vonage. For official information on Vonage Services please proceed to the Vonage website at: www.vonage.com
LOL --- I don't blame you dconnor, I would be distancing myself from this dog, too...you will probably get called as a witness in the lawsuits.
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