Niklas Zennström, co-founder of internet phone company Skype, said there were plenty of revenue growth left in the business as he identified market timing as instrumental behind why only one of the three market changing businesses he has launched have had commercial success.

At a keynote address at the European Private Equity and Venture Capital Association’s conference, Zennström said Skype now accounted for "one in eight international calls".

Zennström, who had originally sold Skype to online auction company eBay in…

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