eBay To Spin Off Skype And List Shares

eBay has announced it will spin off VoIP company Skype and list it publicly, selling stocks next year.

It seems that the rumors about Skype’s founders buying back the company from eBay were wrong. Instead, the auction giant announced yesterday that it plans to spin off the VoIP company and float it on the stock market next year.

eBay paid $2.6 billion for Skype in 2005, a figure many believed was too high, and eBay admitted it overvalued its acquisition. Now eBay says Skype is a “great stand alone” but offers “limited synergies” with auctions.

According to eBay, the impetus for the move comes from a plan chief executive John Donahoe laid down last year. Skype earned $550 million last year.