Skype Founders Re-Found in Settlement
The drama surrounding Skype as of late played out like a business soap opera. The accusations flew from both sides of the fence with founders and owners going at it tooth and nail. Check out Kara Swisher’s account over at All Things Digital for the blow by blow description.
Now it looks like the ‘all clear’ can be sounded as an agreement has been reached. Here’s a synopsis for you from TechCrunch
Earlier this morning, Niklas Zennström and Janus Friis settled their lawsuits with eBay and a syndicate of investors in return for a 14 percent stake in the company they founded. The lawsuits were complicating the spin-off of Skype from eBay because the Skype founders still controlled the service’s underlying peer-to-peer technology.
So now the world can rest easy that Skype should move forward without the imminent threat of being taken out of the market. Of course, just because this part of the story is concluded that is no guarantee that something else might not crop up. That goes for anything though.
So what’s one of the proposed new owners Skype think? TechCrunch spoke to Marc Andreesen about the settlement.
“The deal was never held up. The money was in escrow and was going to close” even if the lawsuits weren’t settled. The transaction is on track to close later this quarter. The other investors are Silver Lake Partners and the Canada Pension Plan Investment Board. Index Ventures and Mike Volpi are out of the deal. Josh Silverman will continue to be CEO.
Andreessen is glad that the lawsuits are settled and that the “Joltid IP is now owned by Skype,” but was prepared to litigate if it didn’t work out. He explains: “This was a completely known situation going into it. It was one of the reasons the deal was available, because of the situation. We assumed it would be a good idea to bring the founders on board and resolve all the issues, we are very pro-founder. There was some drama along the way, but we came out with everybody in the same boat rowing in the same direction.”
So now everyone is in the same boat and rowing in the same direction. Skype is tracking for $740 million in revenue so all is good with the world. Yippee!
Unfortunately, all you need to do is check out the real news and know that this is as far from the truth as it can possibly be. Have a good weekend and stay safe.