eBay × Skype Acquisition Pitch Deck

eBay acquired Skype in 2005 for roughly €2.1 billion (or approximately $2.5 billion) upfront. Two years later, eBay took a $1.4 billion write-down of Skype, stating the acquisition had not performed as expected. The purchase price was considered unusually high, as Skype generated only $7 million in revenues at the time.

By 2009, the Board of Investors decided to divest Skype due to a lack of synergies with the company. Later that year, eBay sold a 65% stake in Skype for $1.9 billion to a group of investors led by Silver Lake Partners, retaining a 30% stake in Skype. Finally, in 2011, Microsoft acquired all of Skype's equity for $3.5 billion. At the end, eBay realized a net gain of $1.4 billion 6 years after its original investment.

$2.5B • 2005 • Acquisition