Yahoo gets sold - Verizon buys at US Dollars 483 Crores
Posted on: 26/Jul/2016 3:12:16 PM
As back as 10 years ago, Yahoo was the most popular search engine, ahead of Google. However, Google picked up rapidly and won the maximum customers. This affected Yahoo’s reputation.
In this scenario, the leading telecommunication company, Verizon has bought Yahoo at US Dollars 4.83 billion.
It is expected that Yahoo will be taken over by Verizon in early 2017.
Earlier, most customers did their search, news, and video on Yahoo. Yahoo mail was the most popular in 2000. Even now, many users aged over 40 still use Yahoo mail.
Yahoo messenger service was globally popular.
However, after 2000, the reputation of Yahoo started sliding. With the advent of Google, YouTube, Facebook, etc., the strength of Yahoo users started falling.
The decision to sell Yahoo was taken a few months ago. Many large companies vied with each other to buy Yahoo.
Verizon was successful in buying Yahoo at the cost of US Dollars 483 Crores.
All shares of Yahoo, except the 15 percent share held by it in the Chinese E-commerce company Ali Baba and 35.5 percent share in Yahoo Japan will change hands to Verizon.
It is worth recalling that Microsoft attempted to buy Yahoo during the year 2008 offering a price of US Dollars 4400 Crores. However, Yahoo refused.
