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Skype Welcomes New Chief From Cisco

Written by: on 5th October 2010 |
Tony Bates
Skype Welcomes New Chief From Cisco  | read this item

Skype’s new chief has finally made known to everyone as he happens to be one of the top executives of Cisco. He is no other than Tony Bates. He headed up Cisco’s voice technology group and now his skills would be for Skype. He would replace Joshua Silverman, a former eBay executive who has run Skype since early 2008. Silverman would step aside to give way for Bates. It was 2005 when eBay has acquired Skype for $2.6 billion for the startup phone service. However, it has never integrated the company into its online auction business.

November of last year, Silver Lake Partners, a technology-focused private-equity firm, led a group that acquired a majority stake in Skype, valuing the company at $2.75 billion. Bates would be reigning in the time wherein Skype just recently had filed for an initial public offering in August which has reached a record $69.7 billion so far this year. But it is not yet clear when it will be able to complete the stock sale.

Having its new CEO as the year ends, Skype subscribers has been looking forward what are the new things that they could offer and this would be one of the challenges that Bates would be facing. The company has been earning though but still needs a little push. In fact, they were able to have $13 million on revenue of $406 million through the first six months of this year. Bates needs to figure out how to squeeze more profits out of the company’s 560 million registered users.

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