eBay: "We swapped Skype for an IOU"

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Skype has been set free and is no longer an eBay company. eBay have completed the sale of Skype for $1.9 billion and an “I Owe You” note for a further $125 million.

In what’s been a dubious purchase under the tenure of Meg, Skype was billed as “The power of 3” along with eBay and PayPal. Having failed to find the synergies with marketplace and payments even disposing of Skype cost eBay around $137m or 5% of their shareholding to the founders in exchange for the software at the heart of Skype. eBay also purchased $50 million of debt securities to help out Skypes finances.

Hopefully the way is now clear for the company to flourish as a standalone entity and get on with the business of communication. I’ve said it before – Skype have been blessed with favourable press and any bad news being shouldered by eBay. From now on they’ll have to stand on their own two feet and it’s time for them to be a grown up company responsible for their own growing profits and destiny.

Via eBay Ink

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