Business

Chris Cantell Discusses Business: Is Skype sinking?
by Claudia Sonea

I think this is the first question on everyone's mind after the announce made on Monday by eBay spokesman Hani Durzy. Zennstrom, a Swedish entrepreneur, co-founder and chief executive of eBay's Skype division is stepping down. The main concern is if the $1.43 billion in charges for the Internet phone service division was the reason or not. According to Durzy it wasn't. The official statement revealed that Niklas has some new projects and wants to spend more time on them. The write-down in the value of Skype of $900 million and the charges of impayment proved that eBay Inc one of the world's largest e-commerce companies, overvalued it at 2.6 billion dollars. Moreover on Monday Durzy also announced a on-time payout to the shareholders of $530 million due to the 2005 agreement when they promised $1.7 billion if Skype hit specific targets in 2008 and 2009. Niklas Zennstrom will remain non-executive chairman of Skype's board and taking care of some new projects like Joost, an Internet TV service he started in 2006 and will be launched at the end of the year. The temporary Skype CEO will be EBay chief strategy officer Michael van Swaaij, formerly vice president for European operations, until it is officially named another one that Russell Reynolds Associates is hired to search. Skype President Henry Gomez will return to eBay as senior vice president for corporate affairs. eBay's share rose and I firmly advise everyone to buy, buy now....there is no safer thing than it. Therefore Skype still has a long way until sinking.

related story: http://news.yahoo.com/s/ap/20071001/ap_on_hi_te/ebay_skype;_ylt=Ar_OgPjUUwzl98nIZ3iytdOs0NUE

by Claudia Sonea for PocketNews (http://pocketnews.tv)

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These news are brought to you by CantellTV, its technology partner SigEx Telecom and its founder Chris Cantell. CantellTV is the fastest growing provider of digital broadcasting coupled with enhanced communications, allowing people to easily control, view, upload and share digital content through proprietary interface. CantellTV has relationships with a growing network of international clients delivering millions of videos per day with more than 50,000 new videos uploaded and 200 hours of new TV shows broadcasted daily to a wide range of viewers, from 5 to 7 year olds of LiveCartoons; to 16 to 24 year old active social users of MyJumps; to fortune 50 corporate clients utilizing enhanced broadcasting services. CantellTV is committed to delivering infinite choices to your world of entertainment at the tip of your fingers. Chris Cantell retains consulting arrangements with several pre-IPO companies.



Posted by: Maria Vidlickova

Labels: Business, CantellTV, Chris Cantell, Christopher Cantell, digital broadcasting, SigEx Foundry, SigEx Telecom

posted by Blog TechSource @ 3:08 AM