Its an end of an era! The mighty has fallen dead. It was on a downward decline and its death was foretold years back. Melissa Mayer could do nothing but help it fall faster.
Yahoo has now been sold to US telecom giant Verizon for just $5 billion deal. This was something no one expected. At its peak in 2000 it was valued much higher.
Yahoo will now join AOL another fallen star which was again bought by Verizon. When Microsoft offered Yahoo $44billion in 2008, Yahoo could have flinched the deal as it very well knew it would need to shut down soon. Instead it brought in Melissa Mayer who just could not revive it. Now the only person who would benifit from the sale is Melissa Mayer as she would bag $59million even if shes dismissed from the company. She already took home $78million since she started off as CEO in 2012. Investors say there are major difficulties for purchaser and shareholders as most of their money would be spent just to send off Mayer and whats left would be just Yahoo with negative profit.
Even though Marissa made a statement stating “Yahoo is a company that has changed the world, and will continue to do so through this combination with Verizon and AOL.” only shareholders and purchaser know the frustration when they would have heard her say this. Marissa has now become a case study in learning how bad a leader can be.
However, no mater who would have lead the company, Yahoo was bound to fall unless it had changed its employees right from CEO completely and looked at a fresh ball game. Now its too late to even discuss. Verizon and its brands are now a handfull and lets just wait and see what happens to Yahoo next.