It's not a good day to be Vonage
The troubles continue for Vonage. The service has already had its share of angry customers, but the 'disastrous' IPO has made things worse, and there's no obvious end in sight.
From the New York Times:
Vonage, which has racked up hundreds of millions of dollars in losses in part because of its aggressive marketing campaign, does not want to spend more to retain angry customers, analysts said.
"Clearly they've gotten a significant amount of bad press, and for a company spending a lot of marketing to get customers, they will have to spend even more to keep customers from defecting," said Richard Greenfield, an analyst at Pali Research. "It appears that management feels that the directed stock program could backfire and result in higher churn," or customer turnover, he added.
More discussion at Mark Evans, IP Democracy, and Good Morning Silicon Valley.