Monday, June 26, 2006

Vonage IPO - One Month Later

Ugly is a pretty good way to describe Vonage's world just one month after going public. Was going public a mistake? Should they have waited? Did they really have any choice? More questions than answers for sure, but the overall sentiment is pretty bleak, if not nasty. Just take a quick tour around the blogosphere for starters - Russell Shaw, Andy Abramson's post about Bloomberg's article, and Mark Evans.

On Friday, I was interviewed by Bloomberg Radio about Vonage, and got to say my piece on the story. I basically reprised my thoughts that I had posted earlier in the week, with my basic take being that Vonage is oversold, and that it's not all bad.

So, maybe I'm being a contrarian here, with a touch of wishful thinking, but I also think the Vonage-bashing has gone on long enough. It's very easy to jump on the bandwagon and throw more logs on the fire, but even with all of Vonage's woes, there reaches a point where it's just unproductive. There's a healthy, happening IP market going on out there, and hopefully this gloom won't spread like a dark cloud over the whole space.

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