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Skype IPO Reportedly Set For 2011

Skype is said to be moving forward on an initial public offering worth $1 billion.

Despite analysts expecting the company to go public in 2010, Skype will instead go ahead with the IPO next year owing to market conditions and internal factors slowing down the process, Reuters reported, citing two people close to the situation.

The VoIP provider had originally filed for an initial public offering with the US Securities and Exchange Commission in August. However, the company is still working over a number of factors like IPO inventory and its own preparedness for issuing the IPO.

The decision to launch the IPO rests with the new CEO Tony Bates, who was previously the senior vice president at Cisco.

Once the IPO is launched, it will be valued between $750 million to $1 billion.

The IPO is being handled by Goldman Sachs, JPMorgan, Morgan Stanley, BofA Merrill Lynch, Citigroup, Barclays Capital and others.

Frank Quattrone's Qatalyst Partners are said to be advising, but not listed as a book runner on the IPO, one source told Reuters.