SHOCKING! YAHOO HAS BEEN SOLD FOR $4.83 BILLION

Yahoo as we know it has been sold to Verizon for $4.83bn marking the end of an era for a company that once defined the internet. Verizon won the bid after a five-month auction that includes all of Yahoo’s search, communications and digital content products/services. The sale does not include Yahoo’s cash, nor its stakes in Alibaba Group Holdings and Yahoo Japan.

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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.

So what is next for Yahoo?

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Yahoo will be combined with AOL, another faded internet star, which Verizon bought last year.

In Marissa Meyer’s words:

“Yahoo is a company that has changed the world, and will continue to do so through this combination with Verizon and AOL.”


Meanwhile, Verizon’s chairman and CEO Lowell McAdam 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,”

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To think that Microsoft had offered $44bn for Yahoo in 2008.

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