EBay admits to bad call on how much it paid to take over Skype
Ebay had an "Internet Bubble" flashback when thay paid 2.6 billion for Skype in 2005. While there's no question Skype is a very promising company. But 2.6 Billion? Crazy!
Skype will be worth that one day. But not 2 years ago and not now. Maybe 1 to 1.5 Billion.
Fortunately Ebay has plenty of cash and can absorb the 900 million charge without much of a bump.
This reminds me of when Mark Cuban sold broadcast.com for 2.5 billion in 1999 or so. It wasn't worth a fraction of that, although very valuable. Try to find broadcast.com now. It's aliased to yahoo.com.
Skype and Ebay is a good partnership, just some growing pains now.
Dr Dave
The Best of Dr Dave's Weekly Radio Show
Tuesday, October 02, 2007
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