eBay admits mistakes in Skype’s acquisition
In late 2005 eBay acquired Skype, the number one internet-calling company, for $2.6 billion. Today Skype’s price is half that one.
Yesterday, eBay confirmed that it overpaid for Skype showing once more that value never is equal to price. About half billion of the charge were to pay Niklas Zennström and Janus Friis, Skype’s founders, and other early Skype’s investors. Although it looks like big money, they could have earnt up to $1.7 billion if Skype would have met targets for users.
At the same time, eBay announced that Zennström and Friis will leave the company but while the former is leaving CEO post for a nonexecutive chairman post in board of directors, the latter will no longer play a role in the company. This situation leave both them more time to spend on Joost!
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