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Article: After rough start, Vonage clings to survival Internet phone company, little loved on Wall Street, faces a host of competitors
- Article from:
- International Herald Tribune
- Article date:
- September 4, 2006
- Author:
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Matt Richtel
International Herald Tribune
09-04-2006
Jeffrey Citron, chief executive of Vonage, stood above the floor of the New York Stock Exchange in May, celebrating the initial public offering of the Internet telephone company he built.He proudly bought the first 100 shares. Then he watched as their value plummeted, along with the new holdings of tens of thousands of other shareholders. The stock dropped 13 percent from the sale price that day, then kept on falling.''I was a little, I guess, confused,'' Citron said last week during one of his first interviews since that day. His face flushed slightly when the subject came up.Citron, who is about to turn 36, said the decline was the ...