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Zennstrom Bails on VON Canada; Vonage Savaged
Update: Speaking of Vonage, CNN/Money has a story suggesting Vonage is shopping itself, which may explain why its IPO has been filed for two months. The potential buyers, according to CNN/Money, are Sprint, Verizon and Qwest. Om Malik hits the nail on the head when he asks if there's little interest in the IPO, why would there be any interest in an acquisition. Meanwhile, Alec Saunders weighs in with a blunt post – “Worst IPO Candidate of This Year?” – looking at the bad economics of the VoIP markets – lots of competition, lower prices. Saunders concludes it would represent the “ultimate triumph of greed and stupidity over common sense” for anyone who buys into the IPO or acquires Vonage. That's harsh, Alec, but oh so true!