Skype Files for IPO

Skype, the Internet telephony company, filed for an initial public offering today with which it hopes to raise $100 million for future growth, according to an S-1 filing with the U.S. Securities and Exchange Commission.

According to the filing, Skype users made calls totaling in 95 billion minutes, both in voice and video during the first half of 2010.

The company, which was founded in 2003, grew average monthly connected users from 397 million to 560 million users from June 2009 to June 2010 worldwide.

Although we have achieved significant global scale and user growth to date, the penetration of our connected and paying users is low relative to our market opportunity,” the filing reads.

The IPO will be managed by Goldman, Sachs & Co., J.P. Morgan, Morgan Stanley and others.

Analysts have increasingly viewed Skype as a “cash machine,” with the company reporting revenues of $406 million in the first six months of 2010, which ended up netting the company $13.2 million over that time period.

Skype plans to grow its business by increasing penetration rates globally and by targeting small and mid level businesses, according to the filing.

 

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