This article talks about one of the biggest acquisitions of the year. Yahoo has been officially sold off and will no longer run as an independent company. The big brand Yahoo which entered and shook the browsing world is a long forgotten name now. Here’s what happened.
So What Actually Happened?
Verizon Communications Inc., is an American Broadband Telecommunications company and was once the largest wireless telecommunications provider in U.S. Yahoo was long struggling in the market and a constant drop in its performance was recorded. The sale process dragged on for around four months and in the end, Verizon finally bought it.
How much was it sold for?
After long periods of discussion and deliberation, finally Verizon was successful. Verizon payed a whopping $ 4.83 to seal the deal. And with the closure of this deal, the company has been acquired by Verizon and is no more an independent running company. So now Verizon will lead those more than one billion active users that the company enjoyed.
Who were competing for the purchase?
Though Verizon will finally seal the deal, a lot of companies and investors were in the run for the purchase. Investors were as varied as Warren Buffet and The Daily Mail but the only successful investor is Verizon. Some people are also of the opinion that buying the company is not a good decision. Verizon is currently rejoicing about their expansion though.
What changes will happen to Yahoo now?
Current shareholders will keep some of the company’s investments in Alibaba and Yahoo Japan. This deal actually excludes some patents and Yahoo’s cash. It is now integrated with AOL under Marni Walden, an executive vice president at the telecom company. It is still unclear what role Marissa Mayer will play. She is trying her best to maintain her presence in the company. It all depends on the new structure now.
What are Mayer’s opinions?
Mayer is saying that she is planning to stay. Although the opinions of most of the employees are either contradicting or silent. Mayer writes, ” I love Yahoo, and I believe in all of you. It’s important to me to see Yahoo into its next chapter.” AOL CEO Tim Strong is not ready to comment as well. He is saying that his main motive is to get the strategy right. And then later they will focus on the structure.