Verizon is buying once upon a time major player, Yahoo, for a whopping $4.83 billion. Yes, that is correct. The search engine that has more than 1 billion monthly viewers has thrown in the towel and lost their independence for an opportunity to really scale up and increase revenue from digital sales.
Warren Buffet & the Daily Mail were also in the running to snag a deal on the Yahoo bid, but clearly Verizon superseded them all. All of Yahoos patents and cash are not up for grabs, but for a cost of $4.83 billion, I am pretty sure Verizon is stoked as just in 2008 the going rate for Yahoo was astronomically higher. In fact, Microsoft (MSFT, Tech30) offered to purchase Yahoo for $45 billion, but Yahoo refused.
Although many feel like this is the saddest deal in tech history, heART of cool’s (HoC) sentiments remain on the brighter side of things. And the reality is, running your own tech business in an ever changing world is wildly dynamic and brutally challenging at times. And as a company leader, you have to know when to walk away and keep it pushing. The idea is to walk away with more than you started with and although $4.83 billion is not the $45 billion Yahoo could have gotten in 2008, it is waaayyyy more than what they started with and the knowledge, experiences and relationships manifested from the seed of innovation Yahoo planted are quite frankly priceless.
The Verizon/Yahoo deal should be signed, sealed and delivered by the first quarter of 2017. Let’s keep our eyes out for this cool deal in play and let’s hope for the best evolution for Yahoo under Verizon’s reign.
💜Love & Light🌞,
Cristen M. Mills