Verizon to buy Yahoo for Millions of Dollars – All thanks to Marissa Mayer
Yahoo! was an Internet pioneer in the 1990s, but quickly faded by 2010. The company is now set to be sold to Verizon, a leading telco in the United States. Mayer’s turn as CEO of the Internet giant has been the driving force behind their rising stock price. The current stocks for the service are worth US$186 million (roughly NZ$267 million). The sale will take place on 8 June, which will likely signal the end of the Internet giant as we know it.
Before their ultimate failure, Yahoo! went toe to toe with Google and other search engines for a monopoly on Internet searches. To date, the search engine and its related services have over 7 billion views a month. In 1998, the internet giant was one of the most popular starting points for web users.
However, the company began to fail in 2008 and was previously approached by Microsoft to be bought. At the time, the bid was worth billions of US dollars. They refused to sell to Microsoft, but this would later prove to be a poor choice. As Google would soon outstrip all competition in terms of services and notoriety. The 2013 comedy about Google interns, the Internship, put Google and its services on the map.
In their prime, the internet pioneer offered many services to their users. However, in 2011, some of their products were closed, including their Yahoo! Buzz and MyBlogLog. Below is a list of their most popular services.
- Email service
- News service
- Finance service
- Yahoo! Answers
- Online Mapping
Verizon and Yahoo!
Verizon has been trying to buy the company since 2014, but the hacking scandals lowered their initial price by US$350 million. It’s unclear what the new offer will be, but Mayer will benefit at least US$25 million from the sale. Until June of this year, it’s expected that share prices may fall even further.