Ebay In Litigation With Skype Founders Over Key Technology
Perhaps with the benefit of hindsight, firing Skype founder Niklas Zennstrom as CEO in 2007 and paying out only 1/3 of the potential earnout wasn’t the best idea. Zennstrom seems to be holding quite a grudge.
eBay is developing new peer-to-peer software to run the Skype service, they revealed in a quarterly SEC statement.
The existing peer-to-peer software is controlled by Joltid, a company controlled by Skype’s founders Zennstrom and Janus Friis. The software was not acquired by eBay in its 2005 acquisition of the Skype service and is now the subject of litigation in the UK.
eBay is developing the new software in the event they lose
This comes as eBay prepares to spin off Skype as in independent public company. And the service is surging in popularity, with 480 million registered users and $170 million in quarterly revenue.
The case isn’t scheduled for trial until June 2010. Don’t expect an IPO before that, unless a settlement is reached quickly.
source:techcrunch
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