Internet company Yahoo, which once dominated the world, has moved into level of its historic existence after Verizon reportedly purchased it with the amount of $4.8 million according to reports.
The purchase of Verizon includes the core internet business and some real estate caps of Yahoo. Verizon will add Yahoo to one of its biggest acquisition after buying AOL last year for $4.4 billion.
Part of the purchase’s terms would be that Yahoo will keep it stakes in Chinese e-commerce giant Alibaba and Yahoo Japan which worth around $40 billion. Bloomberg was the one to report the sale.
Yahoo was one the giant in the internet know for its web portal, search engine, e-mail, video sharing, yahoo directory, messenger, advertising and more. In 2015, Yahoo remains one of the most visited websites with over seven billion views per month, according to Alexa.
Moreover, the sale of Yahoo will be the end of the era of Yahoo CEO Marissa Mayer, who was unsuccessful in making the company be a giant again. If Mayer will not be given a job by Verizon, she would receive a $55 million of compensation.
The bidding started in April and Verizon immediately was the frontrunner because of its market capitalization of about $228 billion. Bidders include Bain Capital, Vista Equity Parners, TPG and Advent International Inc, and a group led by Quicken Loans founder Dan Gilbert. According to reports, AT&T also was part of the bidding process.