Verizon is about to conclude the $4.83 billion takeover of Yahoo – a company that once defined the internet. The pioneer in search and web content, who was once the biggest name on the world wide web. Verizon will now combined Yahoo with AOL, who itself is another faded internet star, which Verizon also bought last year.
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This is a humiliating exit for a company that once owned the internet, a company to whom Google was once offered to for a mere $1 million and they rejected. To those who had been saddled with the responsibilities of overseeing Yahoo, this is finally the time to take a bow, haven run the internet star to the ground. You can now take a leave and focus on what you know best.
Some Of The Notable Deals Yahoo Messed Up
1998: Google was offered for Yahoo for $1 million dollars and Yahoo refused. Yahoo rejected this deal because they wanted the internet users to spend more time on Yahoo website. And since Google search engine was designed to give people fast answers to their questions by swiftly sending them to the most relevant Website, they sees this as nonviable business.
2002: Yahoo realizes they have screwed up on a major deal and wanted to buy Google for $3billion. Google demanded for $5billion and they went back again. Today, Google is worth a whooping $498 billion.
2008: Yahoo refused the deal that would have allowed them to be acquired by Microsoft for $40 billion.
2016: Yahoo is sold to Verizon for $4.83 billion, bringing to an end a company that has no vision.
Who would believe that Yahoo was once valued at $125bn during the dot.com boom? Poor management, lack of vision has now relegated the company to history while Google that once begged Yahoo for a million dollar buyout has continued to flourish.
Verizon said the deal for Yahoo’s core internet business, which has more than a billion active users a month, would make it a global mobile media company.