Private investors pay US$2B for eBay’s 65% stake in Skype

September 2, 2009

Yesterday agreed to sell a 65% stake in its calling service, bringing closure to a deal that was viewed as the auction company’s biggest strategic mistake. The sale to a group of , in return for US1.9B in cash and a US$125M , marks the reversal of an ambitious 2005 push into online communications that came to cloud the final years at the company of Meg Whitman, its former . The transaction will cut loose one of the biggest and fastest-growing private businesses. With US$551M of revenues last year and 405MM registered users, ’s global reach has made it one of the best-known consumer brands, and its free computer-to-computer calls have had a disruptive effect on traditional telephone companies. Read more

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OpenTable soars, best IPO debut in 18 months

May 29, 2009

Shares of Inc (OPEN.O) closed their first trading session up 59 % last Thursday following the restaurant reservation company’s , in the best first day performance for a US company in over 18 months. The ended up US$11.89 at US$31.85 on NAS, a day after the company raised a more-than-expected $60 million in its .

The started trading at a 22.5% premium over the US$20 price, which was above the expected range, reaching an intraday high of US$35.50. “It’s such a small deal and people are interested in the brand name, plus it’s the first real VC ()-backed by a Silicon Valley firm in a while,” said , an analyst with Connecticut-based Renaissance Capital.

sold a modest 3 million shares, something Einhorn said will make the more volatile and could explain its strong debut. The ’s run-up had many analysts scratching their heads and saying it may be ridiculously overvalued, with a high risk of a big pullback

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