As I was reading through the Demand Media S1 (more on that as soon as I get a bit smarter on a few financial issues), I noticed that Skype just filed to go public.

Wow. Here's the S1. It's another Goldman/Morgan joint, with JP Morgan in there as well.

From what I can tell, Skype has a complicated financial profile, due no doubt to its life inside eBay. But once again, this is a company that, when you clear out the accounting gymnastics, looks to have a pretty interesting profit potential. And it clearly has scale.

More as I read through it.