What the hell is eBay doing buying Skype?
eBay is paying a lot of money for an internet phone service that is pretty easily replicable by Google, Yahoo, and others. It's got a big user base, but there won't be much stickiness to the user base if someone else comes up with a better service.
eBay's answer to the obvious question of synergies is laughable: "People trading on eBay might want to talk to each other." Yes, and people trading on eBay might be hungry. So why doesn't eBay buy Domino's?
It's a common sight to see companies with highly valued stock and high growth expectations make big acquisitions. But it's not a good sign. It's a sign that eBay is grasping at straws to stave off slowing growth.
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