eBay sells most of Skype—but keeps a minority stake for the eventual exit
2009–2011What Happened
eBay sold a majority stake in Skype to an investor group while retaining a meaningful minority position. When Skype later sold to Microsoft, eBay’s retained stake turned into a second payout.
Outcome
The sale reduced strategic distraction while preserving a route to future upside.
The retained economics mattered most when the next owner found a better exit window.
Why It's Relevant Today
Coty’s “cash now + contingent upside later” structure is the same emotional trade: relief today, optionality tomorrow.
