Telecoms pioneer Skype to float on Nasdaq in US
The group of investors which bought the internet telecoms pioneer Skype from eBay is planning a snap stock market flotation less than a year later.
An initial public offering on Nasdaq is planned to capitalise on the company's continued strong growth. Skype boasted in a document filed yesterday that it had 560 million registered users, and had logged 95 billion minutes of voice and video calls in the first half of 2010. A public market for the shares will help eBay to cash out its remaining 30 per cent stake and show whether its buyers made a good bet when valuing Skype at $2.75bn (£1.73bn) in September.
The consortium was led by Silicon Valley venture capitalists Silver Lake with Andreessen Horowitz, a fund which was set up by the web browser pioneer Marc Andreessen.
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.
Join our new commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies