The two founders of Yahoo, David Filo and Jerry Yang
On July 24, United States Eastern Time, according to a report by the New York Times quoted a source as saying that the Yahoo Board of Directors finally decided to transfer Yahoo's core Internet business and assets to Verizon for $4.8 billion. Official notice will be released on Monday, US time.
After the sale, the remaining assets will include only Yahoo's shares in Alibaba and Yahoo! Japan and some patent assets, totaling approximately US$41 billion, compared with Yahoo’s market value of US$125 billion in January 2000.
It wasn’t Verizon that eventually beat Yahoo, but Google and Facebook. Ironically, Yahoo once had a large number of opportunities to acquire the two companies in the early stages of their development, but Yahoo eventually watched the two companies grow up under their noses and eventually squeezed themselves out of the market.
Verizon is one of the four largest carriers in the United States and plans to merge Yahoo with AOL’s acquisitions last year.
Marissa Mayer was hired as CEO of Yahoo four years ago and ultimately did not save the company and she is expected to no longer continue to serve Yahoo after the acquisition. But according to compensation research firm Equilar, she will probably receive a severance payment of $57 million. Throughout her career at Yahoo, she will receive a total of $218 million in cash and shares.
Yahoo was founded in 1994 and is one of the earliest Internet pioneers. Before Yahoo, people were extremely expensive to access the Internet. For example, at that time, AOL had a fixed fee of $20 per month. The two founders of Yahoo, Jerry Yang and David Filo, who were doctoral students in electrical engineering at Stanford University, had their chance to go on academic vacation for one year and quietly put down their work and began to make A software for sorting and querying websites, because they created Yahoo was originally interested in interest rather than profit, so this software is free of charge, quickly swept the United States, the concept of the portal was born. Afterwards, China’s Sohu and Sina are all modeled on Yahoo’s model.
Via The New York Times
