eBay × Skype Acquisition

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 Skypes equity for $3.5 billion. At the end, eBay realized a net gain of $1.4 billion 6 years after its original investment.