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VIRTUALISATION eBay to spin off Skype with a 2010 IPO
VIRTUALISATION eBay to spin off Skype with a 2010 IPO | eBay to spin off Skype with a 2010 IPO |
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| by Stephen Withers | |
| Wednesday, 15 April 2009 | |
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Now eBay has finally admitted that Skype wasn't a good fit. John Donahoe, eBay president and CEO, said "it's clear that Skype has limited synergies with eBay and PayPal. We believe operating Skype as a stand-alone publicly traded company is the best path for maximizing its potential." The plan is to make an initial public offering in the first half of 2010. "This will give Skype the focus and resources required to continue its growth and effectively compete in online voice and video communications," explained Donahoe. "In addition, separating Skype will allow eBay to focus entirely on our two core growth engine - e-commerce and online payments - and deliver long-term value to our stockholders." It's not that Skype has been performing badly. Revenue rose 44 percent to $US551 million in 2008, and registered user numbers were up 47 percent to 405 million. So why is eBay now looking to divest Skype? Please read on. |
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