Vonage selling stock to customers
 Quote:
Vonage's $531 million initial public offering, which is coming up next week, contains an unusual offer for its own customers to buy about 4.2 million shares of the stock.
The offer from the Holmdel, N.J.-based Internet-telephony firm covers up to 13.5% of the 31.25 million shares of the Vonage IPO and would amount to about $72 million, based on the midpoint of the deal's estimated price range of $16 to $18 a share.
The attempt by Vonage to market its IPO through its own devotees comes after it spent $88 million in marketing in the first quarter, compared with $118.9 million in revenue. In 2005, Vonage spent $243 million for marketing on revenue of $269.2 million. The company accumulated a loss of $467 million as of March 31 from its inception in 1995.
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So... what do y'all think?
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