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Thursday, June 01, 2006

Thank God for I am an immigrant ...

... for the wrong reason.

Well, here is the story. Vonage went IPO and within a week it is down 30%. The third most dud IPO in last one year. I use Vonage and love their offering and I was all set to invest in the company (yeah, despite all warnings) till they added a clause to their customer IPO offering - must be a US citizen! Click here for the eligibility list.

I have no clue why they added that clause, I have been under the impression that a significant number of its customers were immigrants because of the portability and economics of the service. I am no master of numbers.

I still wish them luck.