I applied for Vonage stock as part of the "you're a member and we want to help out our customers" program. I read through the prospectus, filed all the papers electronically, and today learned that I received zero shares. What a bummer. The opening price was at $17/share.


In retrospect I'm OK with the fact that I wasn't involved in this one. It was definitely one of the riskier IPOs this year.

Update: I am beginning to wonder if this entire Vonage Direct Share Program (DSP) was one big marketing ploy. It would be a great marketing scam to offer stock, get the media to hype it up, and then only give a small percentage of what was offered. It get's people excited about the program but is sneaky. I searched and can't find other web sites showing that Vonage customers ever received the stock options.

This blogger's post may be another reason they are not giving options to customers:

I am not sure if I am going to buy shares though. If I do, I will be solely looking for the quick pop that high profile IPO’s have delivered. I think that Vonage is a great company and they have built an excellent brand. However, what they have built isn’t entirely a challenging thing to replicate. Comcast has VOIP service, AT&T has VOIP service, COX has VOIP service. The thing that these guys have that Vonage doesn’t is pipes.