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Originally Posted by APN Philip
Actually it's $2.6 billion to be exact. Ebay bought Skype in hopes of faciliating the communication between buyer and seller. Unfortunately, Ebay never implemented the idea and the transaction will go down as one of the worst purchases ever. Meg Whitman really fucked up this one big time. But, you got to hand it to Skype, who recently offered free calling to the US and Canada in advance of Vonage's IPO. The move worked, which is why Vonage opened up at 17 and is now trading at just under half of that at 8.48. The problem facing Skype now is the huge regulations being imposed on VOIP providers such as Calea and E911. Skype thought they could bypass the laws by operating outside the country but are they in for a big surprise...
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I just read about this in the new Newsweek I got in the mail today. It says they are using Skype on a limited basis for large ticket items, such as cars. Could have just changed Ebay to put up their phone number and saved them $2.6 billion.
One hundred million users is huge. However, if the company is only making $25mil in profit..... It's not worth that.
Note that Ebay (according to Newsweek) made $4.8 billion in profit in 2005.