Skype
Skype has been largely considered a dud for eBay. Techcrunch calls it a “a financial albatross around Ebay’s neck” and says Google may buy it.
But what if, a sale – to either Google or someone else – yields a great return? When eBay bought Skype it’s share price was around $47 and now it’s $32. So safe to say that whatever outcome, Skype’s investment value will outperform it’s parent.
So rather than an albatross, I would actually argue that it’s been a great investment.
If Skype can get $5-6bn, that accrual and compounding of value would be quite unique among large cap Internet properties. In fact, it’s pretty hard to point to another company outside of Google who has done that in the last 2.5 years on any sort of scale.
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