Vonage: On a roll or on the block?

Internet telephony company Vonage filed for a public offering earlier this year--but it has yet to file any updated data with the SEC. That's led to some speculation that rather than go public, the company is hoping to lure a buyer.

An article on CNN points out that while the VoIP company has pulled in subscribers and has a big ad campaign, it's still losing money.

"It could be that Vonage's underwriters have tested the waters and may see that an IPO may not raise the necessary money for Vonage to continue deploying its marketing plan," David Menlow, president of IPOfinancial.com, told the site. "At this point, it's distinctly possible someone could come in and work out a deal."

Blog community response:

"Who is going to buy them? Isn't that the billion dollar question? Gorbatenko suggests Qwest, but I find it hard to buy into that. I think like the IPO, finding a buyer would also be a big challenge for the company."
--Om Malik's blog

"If the price (of phone calls) goes to zero, usage should skyrocket. If usage skyrockets, then the costs associated with running the network also rise. Cost basis increasing, revenue decreasing... does this sound like an IPO to you? Not on your life!"
--Alec Saunders .LOG

"Any weakness in the Vonage IPO process could spell bad news for other VoIP companies looking to raise capital such as ourselves. Let's all hope that Vonage doesn't let this get embarrassing."
--VOIP in Vancouver