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Yahoo Sells To Verizon for $4.8 Billion, Was Asking for $57 Billion in 2008

Riggs
Riggs7/25/2016 7:48 PM

CNN Money — It’s official: Yahoo’s days as an independent company are over.

Verizon has agreed to pay $4.83 billion for Yahoo (YHOO, Tech30), the companies said before markets opened Monday.
The sale completes Yahoo’s evolution from influential search pioneer and web portal juggernaut to, in the end, a once-dominant brand that lost its way.

Parties as diverse as Warren Buffett and The Daily Mail were interested in buying Yahoo. But after a sale process that dragged on for months, Verizon (VZ, Tech30), long viewed as the frontrunner, is walking away with Yahoo’s more than one billion monthly active users.

 

 

Look I’m not a math expert. Haven’t run the numbers. Haven’t consulted with Barstool Financial. But my instinct says it has not been a great 8 years for Yahoo. My instinct says you’re supposed to go up in value not down. And if you do go down, it’s not supposed to be to like 8% of your previous value. That ain’t good.

I guess this is finally living, formerly breathing proof that a fantasy football / news / 2D gaming / search engine / email website model — which sucks at all of the above — will not thrive in a world where specialization drives new businesses. Where you actually have to pick 1 vertical and become good at it. Where there’s an app for everything. Tough run for Yahoo: ESPN’s better at fantasy sports, gmail’s better at email, and even I’m better at the news. So what’s left?

Well, 4.8 BILLION dollars. Not bad. And they own a huge chunk of Alibaba. Not bad. And CEO Marissa Mayer is doing… not bad.

Could be worse just… could be better. Like [$4.8 billion x 12] better. Oh well. RIP in peace ELECTRIC Yahoo commercials.


Riggs
Riggs7/25/2016 7:48 PM