Verizon just sold AOL and Yahoo for $ 5 billion

The new company will be called “Yahoo”.

Grow Your Business,
Not Your Inbox

Stay informed and join our daily newsletter now!

May
3, 2021

2 min read

This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process.


Five years ago Verizon , the company owned by Richard Branson , announced the purchase of Yahoo! , but this Monday the company announced that it will sell its stake in Yahoo and AOL for $ 5 billion.

According to El Financiero , the new conglomerate formed by AOL and Yahoo will be owned by private equity firm Apollo Global Management and will be known simply as Yahoo. Verizon will maintain a 10 percent stake in the business, according to the Mexican financial site.

This sale includes media such as Engadget , TechCrunch, and Yahoo Finance , as well as platforms such as AOL’s Internet, Yahoo Mail, and Yahoo’s home.

Business Insider recalls that Verizon bought AOL in May 2015 for $ 4.4 billion, and Yahoo in July 2016 for $ 4.83 billion. With this in mind, the sale of Verizon for “just” $ 5 billion represents a 50 percent loss.

In 2019, Verizon Media Group sold the Tumblr social network, and in 2020 it ceded The Huffington Post to BuzzFeed .

No Comments Yet

Leave a Reply

Your email address will not be published.

 

The Abundance Pub (TAP) is a media source dedicated to all things positive in the world. Focusing on Health, Wealth and Happiness. The Abundance Pub serves as repository of positive news articles, blogs, Podcasts, Masterclasses and tips to help people live their best life!

FOLLOW US ON

Message From Founder