Vonage IPO sinks

We guess it's good news that Vonage's IPO came off as expected this week. Underwriters set the price of 31.25 million shares at $17--the middle of the expected range--so the company raised more than $530 on Wednesday. The bad news is that it was the least successful IPO of the last two years, closing down the first day 13 percent at $14.85.

For more information about the Vonage IPO:
- read this Computer Partner article