Letter of the Day : #Y
#Yahoo was worth 4.8$ Billion! Let’s see the entire journey and what actually happened?
Back in 2008, #Microsoft CEO, Steve Ballmer, decided to make a run to acquire #Yahoo. #Microsoft offered $44.6 billion for the company in 2008.
#Yahoo leadership resisted the offer by demanding they were worth more and began flirting with other potential buyers.
After a couple of months, #Microsoft withdrew its offer, and #Yahoo failed to convince another suitor to make a counter-offer. At the time, Yahoo claimed victory. But in hindsight, #Microsoft dodged a bitter financial bullet.
Post the #AlibabaCorundum, #Verizon stepped in. With not many options left, #Yahoo decided to auction off its core #businesses that include search, email, and #advertising tools to the highest bidder.
That turned out to be #Verizon which offered $4.83 billion for Yahoo’s assets but did not include the stake in Alibaba or Yahoo Japan. Why did #Verizon actually want #Yahoo, pretty obvious isn't it?
It wanted AOL: advertising!
The future for #Yahoo was uncertain, they overvalued that technology to the point they failed to recognize Microsoft was their best option back in 2008!
But I guess we would all agree, that #Yahoo was the company that changed the world. Any thoughts?