Web pioneer Yahoo: officially history as of now
The web pioneer Yahoo is officially history as an independent company. Telecommunications company Verizon completed the roughly $ 4.5 billion takeover of Yahoo’s web business on Tuesday.
In a blog entry there is the previous Yahoo– Boss Marissa Mayer announced her departure as expected: ”(…) I’ll be leaving the company. However, I want all of you to know that I’m brimming with nostalgia, gratitude, and optimism. ” According to her contracts, she is entitled to a severance payment worth millions. Mayer hadn’t been able to get the online advertising business at Yahoo to crank again. The sale to Verizon was decided last year, the purchase price was capped by over 300 million dollars after massive hacking attacks that affected more than one billion users became known.
Yahoo and AOL merge
That YahooWeb business will now be merged under the umbrella of Verizon with the online subsidiary AOL, which includes media such as the “Huffington Post” or the blogs “TechCrunch” and “Engadget”. They are grouped together in a new entity called the Oath. Oath translates as “oath”. Former Google executive Tim Armstrong, who joined AOL as CEO in 2009, will lead Oath as chief executive officer. Among other things, Verizon relies on the linking of its customer data with the Yahoo-Range in the network.
Background to Yahoo: In a nutshell
Yahoo was founded more than 20 years ago as a directory of websites. The company found hundreds of millions of users with online services such as email, but had been struggling to monetize them for years. Most of the income came from online advertising, but its business is increasingly dominated by Google and Facebook. After several bosses tried unsuccessfully to steer the company on the right track, Marissa Mayer took over the helm four years ago. She expanded the media offering, invested in the expansion of the Yahoo search engine and wanted to reach young users by purchasing the Tumblr blog platform. Net advertising revenue fell anyway, and the Tumblr purchase dragged Yahoo further down.