Verizon Buys Yahoo For $4.83 Billion



After months of bidding, Yahoo has finally found a buyer. Verizon (which owns AOL ie America Online ) is officially acquiring Yahoo’s core business for $4.83 billion in cash, which includes Yahoo’s advertising, content, search and mobile activities. 

Verizon wants to merge Yahoo and AOL to form a bigger advertising and media subsidiary. This way, AOL gets more scale and reaches enough internet and mobile users to become an advertising giant reaching hundreds of millions or even billions of people. 

Eventually, Verizon wants to compete with Google and Facebook when it comes to advertising. Online advertising is currently dominated by the two Silicon Valley-based companies. Verizon wants to become the third way. 

This isn’t the first time a telecom company has been looking at ways to provide and operate more than computers and phones. Verizon now wants to control what’s going through the company and thus is investing a lot of money in this venture. 

In grabbing Yahoo, which it will merge with its AOL operation, Verizon beat out rival bidders including Dan Gilbert, founder of Quicken Loans, whose bid had been backed by billionaire Warren Buffett who also clearly had interest.

Comments

Post a Comment

Popular posts from this blog

Man Arrested For Biting Off Woman’s Finger During Fight At A Restaurant

Image
                                   Annapolis police said a Lothian man was arrested after he bit the tip of a woman’s finger off during an altercation at a Jimmy John’s restaurant. Police said officers responded to the Jimmy John’s restaurant on Main Street at around 2:17 a.m. Sunday for the report of a fight between the suspect and the victim’s friend. The victim reported that she was attempting to break up the fight when the suspect bit her left ring finger before he left the restaurant.
Read more

‘How Ex-NSA Dasuki Begged Tinubu For Buhari’s Ticket In 2011’

Image
The immediate past National Security Adviser (NSA) retired Col. Sambo Dasuki, practically contributed to the efforts of President Muhammadu Buhari to actualise his political dreams on various occasions between 2003 and 2011. This latest revelation was made by an Abuja-based blogger, syndicate writer and public relations consultant to Dasuki when he was the NSA, Mr. Yushau Shuaib, in a piece he posted on his blog titled “Sambo Dasuki: An Encounter with the Spymaster”.
Read more