Verizon appears set to go ahead with it’s planned Yahoo acquisition
This will see CEO Marissa Mayer pocket a $23 million “golden parachute”. This deal was first announced 25 July 2015.
Just last Tuesday, a large discount negotiation to the tune of a reduction of $350 million was announced. Following the hacking fiasco in 2015 it was questionable whether or not Verizon would even go ahead with the deal.
Mayer has courted much controversy during her time as CEO of Yahoo. However, she took the helm of an already sinking ship. The series of CEOs who preceded her failed to bring Yahoo forward into the modern internet era.
Yahoo began as one of the earliest internet pioneers. It was the primary go-to web portal from its conception during the mid 90s. However, after a string of bad decisions, it became a grave loser in the race for capturing the interest of netizens.
Yahoo Failed to Enter The Future
These failures began way back before Mayer arrived. In 2002, it is claimed that the company had a golden opportunity to acquire Google. Unfortunately it failed to foresee the future of “search”. From this point onward, they became sluggishly left behind.
Mismanagement after mismanagement left them flailing in the distance. The handling of the Flickr acquisition was so poor that a once popular and decent photography website became a bane for users to deal with. Yahoo has never had the talent to predict future trends and has left itself sitting in the dark.
Terry Semel’s Countless Blunders
Terry Semel was touted as the worst CEO the company had ever seen. His failure to negotiate a higher bid is alleged to be the reason that Yahoo failed to acquire Facebook in 2006. And when co-founder Jerry Yang stood down in 2012, the company likely felt it’s soul and energy leave the building.
Mayer arrived to the company in 2012, fresh from Google, and sought to bring it back to life. But she has had hardly anything to work with.
With Yahoo’s failure to move with the times, she had barely any platform from which to rebuild the once giant internet presence.
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