Those hooked on to the Internet in nineties will know the importance of Yahoo! The American internet company’s Messenger was a rage in Asia including India. The service that helped many Indian guys with terrible English hook-up with naive girls from Philippines hasn’t been doing well for over a decade. Finally, the inevitable has happened, as Verizon agreed to buy the iconic Internet company for nearly $5 billion. Much of the credit for Yahoo!’s downfall goes to its recent CEO, Marissa Mayer.
According to the reports, Verizon will be buying Yahoo! in cash transaction. The deal includes the Internet company’s core business and websites such as Flickr and Tumblr. Considering Yahoo!’s current situation, $5 billion may sound like a lot of money. However, once you realise that the software-giant Microsoft had offered $44 billion in 2008, the current deal sounds like a chump change.
Once the deal is through, Yahoo! will be the second major company under Verizon’s fold after AOL.