Skype planning a $100 million IPO

Aug. 10, 2010 - PRLog -- Skype, the leading internet video phone service, has filed for an IPO on Monday. The Luxembourg based company is planning to sell as much as $100 million of depositary shares held by existing owners.  In the filing, Skype said it had achieved “significant global scale and user growth,” but “the penetration of our connected and paying users is low relative to our market opportunity”.

Founded in 2003, Skype pioneered VOIP calling and currently has 560 million registered users, up 41% from a year earlier, and 8.1 million paying users, up 23% from last year. For the first half of 2010, Skype generated more than $406 million in sales and a net income of $13.2 million. During 2009, the company had sales of $719 million and a loss of $99 million. Skype’s revenues are expected to accelerate as the company’s deals with Verizon Wireless, Samsung and LG start paying off.

Skype was bought by EBay in 2005 for $2.6 billion and sold in September 2009 for $2.75 billion to an investment group led by private equity firm Silver Lake Partners.

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