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Vonage going IPO
Diashto writes "I just recieved voicemail on my Vonage phone saying that Vonage is going IPO, and that certain customers may be eligible to purchase common stock at IPO pricing. More information is is available on their IPO site."
I'm out of mod points, so I'd like to reiterate that I looked into this, and I'm not going to touch it with a 10-foor pole. They spend almost every dollar in revenue they make on marketing, and borrow money to keep their business running. IIRC ( I don't have the prospectus in front of me), but they made $250 mil last year and spent close to $400 mil. When you combine their assets and their debts together, the company is worth less than zero. But this IPO will raise something like $400 mil, and since they're offering about 20% of their outstanding stock they're effectively valuing the company at $2 billion. It's not 1999, folks. It might be possible to buy in at the IPO price, and then flip it for a gain that day. But I like my odds in Vegas better. If you like the long-term prospects, wait a little while and I htink the price will dip below the IPO price....