One of the most powerful Internet companies is officially for sale

2453 reads

From: Mashable By Jason Abbruzzese
Recommended by: Mashable


Yahoo has admitted what everyone already knew — the company is up for sale.

And to make sure it's taken seriously, Yahoo is bringing in outsiders to drum up interest.

The company announced on Friday the formation of "a Strategic Review Committee of independent directors" to explore "strategic alternatives." Put more plainly, Yahoo has hired bankers and lawyers to field offers that can be presented to the company's board of directors.

The moves come after a particularly dark time for Yahoo, marked by layoffs that are cutting around 15% of its workforce and include the shuttering of many of its content verticals such as food, health and travel.

Yahoo and its CEO Marissa Mayer have faced increasing pressure from activist investors to sell what has been referred to as its "core assets" but really just means its actual business.

Despite remaining a major and powerful web destination, driven by the power of its curated, news-focused homepage, Yahoo's core web advertising business suffered along with the rest of the media industry and efforts to grow into newer areas such as mobile and video have been middling.

The formation of an independent board is a step that could force the company to act if a buyer is found.

Meanwhile, Yahoo has held a

 

Read Original :One of the most powerful Internet companies is officially for sale

Trending

202
Johngreathouse's picture

How Trying To Assassinate Hitler Led To The Beatles’ Sgt. Pepper

A version of this article previously appeared in Forbes. I recently enjoyed John Covach’s History Of Rock Coursera course. In an early lecture, he explains how the Nazis’ desire to protect Hitler from assignation led to the invention of
97
mashable's picture

Google just slashed the price on its massive storage plans with Google One upgrade

Google's storage plans are getting cheaper. The company has launched a new storage plan called Google One, which offers significantly better deals than Google Drive storage plans. There's no need to switch, because all current Drive storage
86
johnsullivan's picture

HireVue, Indeed Unveil Pre-Hire Assessment Solutions Born Out of Acquisitions

One did it with a new acquisition. MindX, a game-based assessments company based in London, has been acquired by HireVue, best known as one of the oldest video interviewing solutions. The announcement was made last week. “The MindX game-based
368
changethis's picture

Start Imagining a Future of Human + Machine

“In the first wave of transformation, businesses standardized processes. Think Henry Ford and the assembly line, where steps in the overall process were broken down, measured, and optimized to achieve gains in efficiency. The second wave of
128
jackcanfield's picture

Try This Simple Night Meditation Called "The Evening Review"

Successful people maintain a positive focus in life no matter what is going on around them. They stay focused on their past successes rather than their past failures, and on the next action steps that will get them closer to the fulfillment of their
112
davecrenshaw's picture

How far would you go for a friend?

I recently witnessed an act of compassion and friendship so unexpected, it moved me to tears. And it happened in a very unlikely place: Pelican Bay super-maximum security prison. I support a program called Defy Ventures, an organization that works
113
johnsullivan's picture

Here We Go Again – LinkedIn Updates Its User Agreement

There are times in my life when I hate that I am right about something. Like the time I thought an employee was stealing from my store back in the day and two days later I caught them doing just...
234
changethis's picture

How Women Rise: Helping Women Change the Behaviors that Get in Their Way

“It’s not surprising that many of the behaviors that hold men and women back would be different. After all, women often have very different experiences at work. And experience shapes habits and responses.Familiar habits and responses may feel
196
danielhpink's picture

PINKCAST: This is how (not) to calm your nerves

There are two kinds of people in the world: Those who feel a little nervous before big presentations . . . and liars.For all of us in the first group, this 86-second Pinkcast — it’s a phone show, folks! — offers a simple, science-based technique for