Yahoo sold!!

Yeah you heard it right Yahoo sells itself to US telecom Giant Verizon. For about $ 4.8bn dollors. This is the worst billion dollar deal in tech industry. the company who worth once $ 125bn dollors. Is sold out for chump change.

Although, The deal doesn't include valuable stake in the company Alibaba. (a firm originated from china)
But, The rest of the part which is acquired by Verizon has more than a billion active users per month. This will definitely make Verizon a global mobile media company.

Verizon spend big on YAHOO.

Yahoo Timeline

• 1994 Yahoo - which stands for Yet Another Hierarchically Organized Oracle - is founded

• 2000 Yahoo valued at $125bn at height of dot.com boom

• 2002 Google rejects a $3bn bid from Yahoo

• 2008 Microsoft's $44.6bn offer for Yahoo is turned down

• 2013 Blogging site Tumblr acquired by Yahoo for $1.1bn

• 2015 Yahoo makes net loss of $4.4bn

• 2016 Verizon agrees $4.8bn deal to buy Yahoo

In the End

  

(Photo: Jason Alden/Bloomberg)

Marissa Mayer, chief executive of Yahoo, said: "Yahoo is a company that has changed the world, and will continue to do so through this combination with Verizon and AOL."

In an email to staff, Ms Mayer said she was "planning to stay", adding: "I love Yahoo, and I believe in all of you. It's important to me to see Yahoo into its next chapter."