The twelve-year history of Yahoo is over. The American company Verizon Communications has completed the process of acquiring once a popular search engine. Yahoo owned the second most popular search engine in the world. The period of the rapid growth of the company came in the late 1990s. Yahoo then brought to the market a huge number of new services, including free mail service, instant messenger for instant messaging, and the service for online games.
Talks about the sale of the company have been going on for about 10 years. So, it is known about the attempt of Mircosoft to purchase Yahoo in 2008! Thus, the corporation of Bill Gates expected to compete with Google in the market of search and advertising Internet services. Then the deal did not take place. Also, later Google failed to purchase Yahoo! The reason for the disruption of the deal was the ban of antimonopoly services. Last summer it became known that the sale of the once super-popular search engine was a done deal. The buyer was the telecommunications company Verizon.
The deal amounted to $ 4.48 billion.
It became known that today (immediately after the completion of the transaction) Yahoo CEO Marissa Mayer had lost her post along with several other top managers of the company. This decision was not a surprise as Mayer had been criticized for irresponsible spending. In particular, parties and expensive gifts to ordinary employees of the company is unjustifiably high amount of Mayer’s reward.
From now, the company will be headed by Thomas McInerney.
Yahoo continues to own 15% of shares of Alibaba Holdings and 36% of Yahoo Japan. The name of the company will not be preserved, now we will monitor the shares of Altaba (ticker AABA on the New York Stock Exchange).
Meanwhile, Verizon shares have fallen by1%, the trend will continue.
The material was prepared with the participation of Marina German,
a leading analyst of the brokerage company CT Trade