eBay has reassessed the value of Skype, that it bought for $2.6 billion 2 years ago and will claim a $1.43 billion "impairment write-down" against its value.
This means that the company are saying they have made a loss on their original investment. Despite Skype being the biggest VoIP provider in the world, it seems the price eBay paid for the company was just too high.
Although eBay planned to integrate the internet phone company's service into their online auction offerings, some industry experts suggest they have not done enough, and have not managed to monetise the service.
Skype co-founder and chief executive Niklas Zennström has stepped down from his position at the company. He will remain a non-executive chairman of the Skype Board of Directors, but is leaving to spend more time on web TV site Joost, that he is also a founder of.