Did Verizon buy Yahoo? Well yes, Yahoo, which is one of the giant multinational tech companies, is to be bought by Verizon, the largest telecom company in the US, for a deal worth of $5 billion. The deal will be officially announced by today evening.
Yahoo as a company was majorly losing to its competitors like Google and Facebook. But even employing a new CEO named Marissa Mayer who is an ex-Google executive, couldn’t help to improve the fading out image of Yahoo. Hence this Verizon to buy Yahoo is soon to become a reality.
The deals under which Verizon is buying Yahoo states for the latter to sell its internet business which operates via Yahoo Mail, Yahoo Finance, Yahoo new, and Yahoo Sports etc.With this Yahoo’s advertising tools will also be sold.
Post the start of the deal, Yahoo won’t last as a functional company but will exist as stake holding company with 35.5% in Yahoo Japan and 15% interest holder from Alibaba Group.
Current CEO Marrisa Mayer will have to resign from her designation as well as all her efforts failed considerably and Yahoo as a brand could not be rescued.
