EBay Plans to Spin Off Skype Via 2010 IPO
EBay (EBAY) this afternoon announced that it plans to spin off Skype via an initial public offering in the first half of 2010. The company said specific timing of the IPO will depend on market conditions. The announcement did not say whether eBay would maintain a stake in the company.
In a statement, eBay CEO John Donahoe said that Skype is “a great stand-alone business with strong fundamentals and accelerating momentum, but that it has “limited synergies with eBay and PayPal.” He adds that operating Skype as a stand-alone company “is the best path for maximizing its potential.”