Yahoo has agreed to sell its core operating business to Verizon for $4.8 Billion. Yahoo has been in business for good 22 years. A time period long enough to gain a supremacy in the industry but somehow things changed.
CEO Marissa Mayer, a former Google executive, worked hard to change the fortune of yahoo in competition with fastly growing Google but she did not succeed. It is said that her tenure with Yahoo as CEO was full of confused strategy and mismanagement. Here is what she wrote (email) to all Yahoo employees about the Verizon Sale.
SEE ALSO: We also published a Video about the Yahoo sale.
Moments ago, we announced an agreement with Verizon to acquire Yahoo’s operating business. This culminates a rigorous, thorough process over many months, and yields a great outcome for the company. Today’s announcement not only brings us an important step toward separating Yahoo’s operating business from our Asian asset equity stakes, it also presents exciting opportunities to accelerate Yahoo’s transformation. Among the many entities that showed interest in Yahoo, Verizon believed most in the immense value we’ve created, and in what a combination could bring our users, our advertisers, and our partners.
This is a good moment to reflect on Yahoo’s journey to date.
Yahoo is a company that changed the world. Before Yahoo, the Internet was a government research project. Yahoo humanized and popularized the web, email, search, real-time media, and more.
Yahoo, once an Internet giant leaves a message for all online businesses. A big point to ponder, If you do not innovate, you do not stay in the lime-light.
Yahoo could have learned from the success story of 3M whose founders and investors came to a crossroads and were forced to make a tough decision after years of losses, a choice of either closing their business or changing the course. 3M owners cashed in the opportunity with both hands and carved their business to a path to success. The company now generates nearly $30 Billion in revenue and has an employee base of over 80,000 people.