Investing

Skype Updates IPO Filing With Full 2010 Data

Skype S.A. Is closer to being a public company.  A late-Friday SEC filing showed the updated financial data for 2010 and showed more updated details.  Skype’s Luxembourg-based ADRs will trade on NASDAQ but no stock ticker was confirmed.  Another lacking detail remains a share count and price range.

Let’s just say that the underwriting syndicate is huge. Goldman Sachs, J.P. Morgan and Morgan Stanley are all book-runners; other syndicate managers were listed as BofA Merrill Lynch, Barclays Capital, Citi, Credit Suisse, Deutsche Bank Securities, Lazard Capital Markets, RBC Capital Markets, UBS Investment Bank, and Allen & Company LLC.

We now have the 2010 data in hand.  In 2010, Skype generated $860 million of net revenues, and Adjusted EBITDA was $264 million, while it’s net loss amounted to $7 million.

In 2010, its users made 207 billion minutes of voice and video calls using Skype. In the fourth quarter of 2010, video calls accounted for approximately 42% of all Skype-to-Skype minutes, and in 2010, its users sent over 176 million SMS text messages through Skype.  From December 31, 2009 to December 31, 2010, Skype grew its registered users from 474 million to 663 million. From the three months ended December 31, 2009 to the three months ended December 31, 2010, it grew it’s average monthly connected users from 105 million to 145 million and its average monthly paying users from 7.3 million to 8.8 million.

The company now has strategic relationships with leading mobile operators such as Verizon Wireless in the United States and KDDI in Japan and with television and Blu-ray player manufacturers (LG, Panasonic, Samsung, Sony and Vizio) that embed Skype software on their applications and devices. In October 2010 it partnered with Facebook to integrate the Facebook channel, including Facebook news feed and Facebook phonebook, into the Skype software client for Windows. In September 2010, Skype entered into an agreement with Avaya for the promotion and support of Skype Connect and to cooperate with the objective of launching, in a second phase, integrated communications and collaboration solutions for businesses.

Skype is one of our “Top 17 IPOs of 2011” for our readers.

Jon C. Ogg