Yahoo Inc. (sometimes stylized as Yahoo! Inc.) is an American multinational technology company that focuses on media and online business. Its major products include Yahoo, Yahoo Mail, Yahoo News, Yahoo Finance, Yahoo Sports, Yahoo Native, and Engadget.
After acquiring the company in 2017 for $4.48 billion, Verizon folded the company into a subsidiary called Oath Inc.[3][4][5] In December 2018, Verizon announced it would write-down the combined value of its purchases of AOL and Yahoo by $4.6 billion, roughly half; the company was renamed Verizon Media the following month in January 2019.[6]
In September 2021, funds managed by Apollo Global Management acquired 90% of the company for roughly $5 billion; Verizon retained a 10% stake in the company.[7][8][9]
Yahoo Inc. was formed on February 8, 2006 as part of a corporate restructure.[10] It is organized in Delaware and is headquartered in Manhattan, New York.[11][12]
Jim Lanzone became CEO of Yahoo in 2021.
History
Under Verizon (2017–2021)
A year after the completion of the AOL acquisition, Verizon announced a $4.8 billion deal to acquire Yahoo's core Internet business, to invest in the Internet company's search engine, news, finance, sports, video, emails and Tumblr products.[13] Yahoo announced in September and December 2016 two major Internet security breaches affecting more than a billion customers.[14] As a result, Verizon lowered its offer for Yahoo by $350 million to $4.48 billion.[15]
The AOL deal and subsequent Yahoo purchase were led by Verizon's management team, including Lowell McAdam (CEO), Marni Walden (EVP Product) and Tim Armstrong. Walden had been tasked with merging the two entities and delivering on the promise of moving Verizon from an analog to digital platforms business.[16]
Brands
Digital media brands under Yahoo include:[58]
• Yahoo
• Yahoo! Sports
• Yahoo! Fantasy
• Yahoo! Finance
• Yahoo! Mail
• Yahoo! News
• Yahoo! Life
• Yahoo! Entertainment
• Yahoo! Search
• Engadget
• MAKERS
The company also owns the Yahoo Native advertising platform (formerly known as Yahoo! Advertising, Yahoo! Search Marketing and Yahoo! Gemini), and the Yahoo DSP demand side platform.[59]
External links
References
- Robert Hackett. Read What Yahoo Is Telling Employees About the Verizon Deal Fortune.com, 3 August 2016, retrieved 9 July 2017^
- Natasha Lomas. Latest round of Verizon layoffs at Oath affects <4% of staff globally TechCrunch, retrieved 2018-02-19^
- Todd Spangler. Tim Armstrong Unveils Oath: AOL-Yahoo Combo Is as Big as Netflix and Looking to Expand