socialmedian: CallWave Delists From NASDAQ; Fuze Meeting Rises From The Ashes

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CallWave Delists From NASDAQ; Fuze Meeting Rises From The Ashes

Source: TechCrunch

Jul 04, 2009

Summary

It’s not easy to launch a WebEx competitor. Most businesses have long since established their “system” for dealing with web meetings, using old standbys like WebEx or GoToMeeting. And those businesses that are willing to venture into the unknown have had plenty of cheaper alternatives to choose from, like DimDim, for quite a while. But that isn’t keeping CallWave from launching one of its own, dubbed Fuze Meeting. And while it’s not going to be an easy space to compete in, Fuze Meeting doesn’t disappoint.

As far as startups go, the history of the company is pretty unique. CallWave was founded in 1998 and went public in 2004, trading on NASDAQ under the ticker symbol CALL. After reaching a peak soon thereafter of over $15 per share, the stock dropped steadily, dipping as low as 50 cents early this year. Deciding to cut its losses, the company delisted itself from NASDAQ on Monday after buying back shares from public shareholders at a 44% premium over the current market value and paying out a total of $10 million. CMO Patrick Moran says that the company d

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