A telco lawyer/partner friend recommended Vocus to me before the...

A telco lawyer/partner friend recommended Vocus to me before the IPO. I looked hard and didn't like the backdoor structure and was suspicious as to why the founders were giving up so much equity when it looked like a terrific cash flow business. So unfortunately I didn't buy in.

Despite my reservations, my friend bought in on the strength of his belief in the two main founders. Once again it appears like management are the real value drivers.
Just thought I'd pass that along for what it's worth.

No position and still anchored to that 50 cent ipo price I passed on ;-)