Yahoo in 2008 was offered $44bn by Microsoft, but the acquisition did not pull through, but today, Yahoo has been sold to Verizon for just $4.83bn marking the end of an era for a great company that defined how the internet revolved. Verizon as we know won the bid after a five-month auction that includes all of Yahoo’s search, digital content products/services and communications. This sale however does not include stakes in Alibaba Group Holdings, Yahoo’s cash, and Yahoo Japan.
According to the BBC, Verizon prevailed over rival bidders for Yahoo, including AT&T; a group led by Quicken Loans founder Dan Gilbert and backed by billionaire Warren Buffett; private equity firm TPG Capital; and a consortium of buyout firms Vector Capital and Sycamore Partners.
According to Marissa Meyer’s “Yahoo is a company that has changed the world, and will continue to do so through this combination with Verizon and AOL.”
So what is next for Yahoo?
As we know from her speech, Yahoo now will be combined with AOL, which was another faded internet star, which Verizon also bought last year for billions of dollars.
Meanwhile, Lowell McAdam CEO and Chairman of Verizon’s also said in a press release that the acquisition will put Verizon “in a highly competitive position as a top global mobile media company, and help accelerate our revenue stream in digital advertising,”