eBay announced Tuesday plans to spin off its Internet phone and video-conferencing service, Skype, with an IPO in the first half of next year.
The decision comes four years after online auction giant eBay acquired Skype for $2.6 billion, with the plans to offer customers the ability to discuss their transactions in real-time. But over the course of the four years, eBay found its acquisition failed to provide the synergies it sought.
John Donahoe, eBay's chief executive, said in a statement:
Skype is a great stand-alone business with strong fundamentals and accelerating momentum. But it's clear that … Read more