In 2009, they had shown $740 million in revenue. They also shed excess fat by removing yellow-page like feature called SkypeMe and voice recording feature – SkypeCast. They also created an iPhone app which was a huge hit with over a million downloads after launch. They created premium accounts and revamped their subscription model. In 2008, Josh Silverman came in as the CEO to douse this fire and bring about some changes to improve the company – which he did. Skype had also gone through 5 presidents during this time of downfall and had to wipe off $1.43 billion in value, essentially showing that eBay had vastly overvalued their latest purchase. This turned out to be a massive failure primarily for two reasons – the enormous capital sunk into this acquisition, and the unwillingness of buyers and sellers to participate in video and audio calls for the majority of their transactions on the site. better communication between the buyers and sellers on their platform. eBay’s thought was to use this new service to reduce friction in their e-commerce shopping experience, i.e. It grew so fast that it attracted some large buyers, eventually bought out by eBay in 2007 for a whopping $2.6 billion. They were considered to be the fastest-growing internet community at that time. One month after its launch, one million people had downloaded the software. The free/low-cost model was a hit, so much so that the word Skype became a verb. Since they were sent directly, there was no central server involved and hence less infrastructure and latency. The revolutionary idea at that time involved converting the user's voice into digital data packets and sending them over the internet. Though in the later years, this very concept would prove to be its hindrance. What happened?įounded in 2003 by a group of very talented individuals, they built Skype on a peer-to-peer platform which was path-breaking at that time and contributed to its success early on.
An ominous name missing from this list is Skype – once synonymous with video calling and a market leader for years. Fortunately, there are plenty of options including Zoom, Google Hangouts, Go-To Meetings, Facetime, etc. Moreover, video calls have also become an integral part of our personal lives ranging from online weddings, parties, workout sessions, dating, school classes amongst others. On paper, such an opportunity would be considered as a once in a lifetime opportunity for incumbent video calling companies and a Godsend for large organizations with the resources to scale up to meet the rising demand. Amongst other things, this global pandemic has shown that a considerable amount of white-collar work could be done from home, exponentially raising the demand for video call services over the past few months.
0 kommentar(er)
