There was a time on the Internet where Yahoo! and AOL were some of the most representative technology companies, although today they are not even the shadow of what they came to be in their most glorious moment.
After the decline of both, despite attempts to re-float them, as we came to know in the case of Yahoo! at the time, the telecommunications operator Verizon wanted to come to the rescue of both, thus trying to enter the advertising and marketing markets. of the contents.
New life for Yahoo, which is reluctant to disappear
With this, in 2015 it acquired AOL for $ 4.4 billion, and in 2017 it acquired Yahoo for 4.5 billion dollars. Soon after, it unified the media divisions under the Oath brand, although in 2018 it renamed it Verizon Media Group after poor results, losing half the value.
Thereafter, Verizon tried to ditch the acquisitions, ditching Tumblr in 2019 for an undisclosed sum, and in 2020 it sold Huffpost to Buzzfeed for $ 119 million compared to $ 315 million. to pay for this AOL property.
And now history repeats itself, where Verizon continues to get rid of its acquisitions for economic sums below what it came to pay at the time. Via The Verge We know that Verizon is selling Yahoo! and AOL for almost half what it paid for them.
The sale operation has a value of about 5 billion dollars, almost half of what Verizon came to pay at the time for both companies, as we have already commented, this being subject to the approval of the regulatory authorities to complete the closing of the operation.
Verizon will only keep a 10% stake in Yahoo !, which counts Guru Gowrappan as CEO. The buyer of both companies is Apollo Global Management, a private equity firm that owns the Venetian complex in Las Vegas and handicraft retailer Michaels.
According to Reed Rayman, Apollo partner:
We are delighted to help unlock the tremendous potential of Yahoo and its unparalleled collection of brands (…) We have enormous respect and admiration for the great work and progress that the entire organization has made over the past few years, and we look forward to working with Guru, your talented team and our partners at Verizon to accelerate Yahoo’s growth into its next chapter
Therefore, Yahoo will now start a new stage, although at the moment we do not know what that strategy will be that would allow it the desired growth