Skype Goes Public – Filing IPO To Raise $100 Million

Less than a year after severing itself partly from its parent, eBay Inc. (NASDAQ:EBAY), Skype has filed for an initial public offering with the Securities and Exchange Commission (SEC). The company is expected to trade its shares at the NASDAQ and through this, the popular VoIP service provider is expected to rake in as much […]

Less than a year after severing itself partly from its parent, eBay Inc. (NASDAQ:EBAY), Skype has filed for an initial public offering with the Securities and Exchange Commission (SEC). The company is expected to trade its shares at the NASDAQ and through this, the popular VoIP service provider is expected to rake in as much as $100 million.

According to the IPO filing made with the SEC, the company is reported to have earned close to $406.2 million in revenues for the first half of this year. This is nearly a 25% jump from the $325 million that Skype made during the same period last year as part of eBay. These revenues resulted in a net income of $13.1 million during this period.

In the filing, the company has said,

“We believe the scale, global distribution and growth of our user base provide us with powerful network effects, whereby Skype becomes more valuable as more people use it, thereby creating an incentive for existing users to encourage new users to join,”

Skype shares will start being traded at NASDAQ from later this year.