Summary:

Skype is on its way to going public, and may entice more investors with an updated S-1 filing that provides full-year numbers for 2010. Among other things, Skype increased revenues to $860 million and grew its total user base to 663 million users.

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Voice and video chat provider Skype is on its way to going public, and can finally control its own destiny after years of being a part of eBay. And while the Wall Street Journal reported earlier this year that Skype likely wouldn’t go public until the second half of this year, the company provided a more detailed explanation of its business to potential investors in an amended S-1 filing submitted to the Securities and Exchange Commission late Friday.

Some key metrics from the filing:

  • Skype grew its registered user base from 474 million to 663 million in 2010.
  • Average monthly connected users grew 38 percent from 2009 to 2010, from 105 million to 145 million.
  • Average monthly paying users increased 19 percent over that time, from 7.3 million to 8.8 million.
  • In 2010, Skype generated $860 million in net revenues, up 20 percent from a year before.
  • 86 percent of all Skype revenues come from the company’s SkypeOut landline calling business.
  • Skype’s adjusted EBITDA increased by 43 percent to $264 million during the year.
  • The company’s net loss shrunk from $418 million on a pro forma basis in 2009 to a net loss of $7 million last year. (2009 financials include a $344 million charge in connection with Skype’s acquisition of the Joltid intellectual property.)
  • Skype’s shareholders incurred $806.7 million of indebtedness to finance its acquisition from eBay in late 2009.
  • As of December 31, 2010, $724.9 million of that amount was outstanding under an amended Five-Year Credit Agreement.
  • Skype users made accumulated 207 billion minutes of voice and video calls in 2010.
  • Video calls accounted for approximately 42 percent of all Skype-to-Skype minutes in the fourth quarter 2010.
  • Approximately 37 percent of connected users surveyed last year said they use Skype for business-related purposes.
  • Users sent over 176 million SMS text messages through Skype in 2010.
  • Skype invested $32 million in capex in 2010, up from $14 million in 2009.
  • Skype acquired Qik for approximately $121 million in cash, with additional contingent payments worth approximately $29 million.
  • As part of the Qik acquisition, Skype added 63 employees.
  • Skype’s platform is available in 32 languages, and it accepts payments in 15 different currencies around the world.

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