Yahoo, 22 year old Independent company has come to an end with its sale to Verizon for 4.9 Billion dollar. Yahoo was considered to be King of Internet once, a 125 billion dollar giant, which was as big as Facebook and google in today’s time.
Yahoo announced the end of process to withdraw itself from the mess on Monday morning by selling itself to Verizon. Yahoo’s seventh and final CEO, Marissa Mayer, will reportedly depart upon the deal’s conclusion with severance pay worth more than $50 million.
Yahoo will unite with another fallen company, AOL, which was bought by Verizon last year for 4.4 billion dollar. Verizon is betting nearly 10 billion dollar that combining the two former dominant websites with give it an edge in mobile content and it can
The sale will unite Yahoo with another fallen star, AOL, the first web portal Verizon bought last year for $4.4 billion. The United States’ largest wireless provider is betting nearly $10 billion that combining the two formerly dominant websites will give it an edge in mobile content and advertising technology it can grasp more than 140 million subscribers.
Mayer wrote in an email announcing the news. “Today’s announcement not only brings us an important step toward separating Yahoo’s operating business from our Asian asset equity stakes, it also presents exciting opportunities to accelerate Yahoo’s transformation, Among the many entities that showed interest in Yahoo, Verizon believed most in the immense value we’ve created, and in what a combination could bring our users, our advertisers, and our partners.”
In 2008, Microsoft made a bid to acquire Yahoo for a whopping $44 billion. Yahoo rejected the offer, saying it was “substantially undervalued”.