Ooma Declines in IPO

Ooma, which offers Internet-based telephony services based on a proprietary CPE device and cloud platform, completed its initial public offering of 5,000,000 shares of its common stock at a price to the public of $13.00 per share.

On the first day of trading, shares in NYSE: OOMA opened for trading at $12.10 and then closed the day at $10.95, down 15.77% for the day.

http://www.ooma.com