Verizon Completes $4.48 Billion Acquisition of Yahoo; Marissa Leaves with $23 Million

Discussion in 'HardForum Tech News' started by Megalith, Jun 13, 2017.

  1. Megalith

    Megalith 24-bit/48kHz Staff Member

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    Verizon announced plans to buy Yahoo's core internet business nearly a year ago, and that tale has come to an end: assets have been acquired for $4.48 billion and will be combined with AOL brands under a new subsidiary called Oath, headed by former AOL CEO Tim Armstrong. Marissa Mayer, who penned a goodbye letter to her employees, has also officially resigned from the company. They say that 2,000 jobs may be slashed as Yahoo and AOL integrate.

    Verizon has completed its $4.48 billion acquisition of Yahoo's core internet business and said Tuesday that Marissa Mayer is stepping down. The assets, which include Yahoo Finance, will be combined with AOL brands such as the Huffington Post under a new subsidiary called Oath. Tim Armstrong, former CEO of AOL, will head the subsidiary, which houses more than 50 media and technology brands. Mayer, Yahoo CEO since July 2012, is expected to receive a "golden parachute" payment that filings with the Securities and Exchange Commission say is worth more than $23 million.
     
  2. RogueTadhg

    RogueTadhg [H]ard|Gawd

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    She gets 23 Million dollars and 2,000 people get 0 dollars?

    What did she do anyways?
     
  3. B00nie

    B00nie [H]ardness Supreme

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    I'm more surprised someone paid over 4,8 million for Yahoo.
     
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  4. Master_shake_

    Master_shake_ [H]ardForum Junkie

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    discriminated against men.
     
  5. Devilpup

    Devilpup [H]ard|Gawd

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    Worked hard enough / slimy enough to become CEO.

    Those 2,000 people will be fine if they have any market value, if they don't have any market value then that's their fault.
     
  6. DPI

    DPI Nitpick Police

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    This dingy broad overpaid $1 Billion for Tumblr. That not good enough on the list of accomplishments. ? :)
     
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  7. Shmee

    Shmee [H]ard|Gawd

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    She doubled the share price. I am sure there is a severance package. There usually is for publicly traded tech companies.
     
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  8. MrTryfe

    MrTryfe Limp Gawd

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    What is this, like the 30th front page post on this subject?

     
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  9. Shotglass01

    Shotglass01 [H]ard|Gawd

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    VZ- Yea we'll buy your worthless.

    Mayer- Smooches, kthxbai!
     
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  10. Seventyfive

    Seventyfive [H]ard|Gawd

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    Can't wait for her to write a book or give a speech about the gender pay gap...
     
  11. Airbrushkid

    Airbrushkid 2[H]4U

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    It's not 4.48 Million. It's 4.48 BILLION!!

     
  12. chimera991

    chimera991 [H]ard|Gawd

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    I think marissa enabled the company to serve food to the employees for free.

    Real question is how much did jerry yang miss out on when he rejected microshafts $10 or was it $8 billion dollar offer?
     
  13. B00nie

    B00nie [H]ardness Supreme

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    I said I'm amazed someone paid over 4.8 million. 4.48 billion is quite much over that.
     
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  14. acairman

    acairman [H]ardForum Junkie

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    No comprehension award for you.
     
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  15. SomeoneElse

    SomeoneElse [H]ard|Gawd

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    Yea i think the real story is the fact that Verizon STILL paid 4.48 billion for a company that not once but TWICE in a matter of months that had HUGE security data breaches that gave out its users personal info.....
     
  16. Shotglass01

    Shotglass01 [H]ard|Gawd

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    At the time, I think it was more like 45bn. You could say Mayer did a hell of a lot better than Yang.
     
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  17. DF-1

    DF-1 2[H]4U

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    I think this is wrong, i read that she is getting 230 million? maybe im uninformed but maybe you left a 0 out ;p
     
  18. Bowman15

    Bowman15 [H]ard|Gawd

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    Knowing how inept Melissa Meyer was I think Yang takes the cake on not selling it for 40 Billion. Words cannot justify the stupidity in that one.
     
  19. PhaseNoise

    PhaseNoise [H]ard|Gawd

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    I'll run a company into the ground for HALF that. Come on companies, it's a bargain!!
     
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  20. raz-0

    raz-0 [H]ardness Supreme

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    Well I won't sya she ran it into the gorund, it was pretty much there when she showed up, but she definitely stomped on it and ground it in a bit further before this golden parachute.
     
  21. heatlesssun

    heatlesssun [H]ard as it Gets

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    Perhaps, but I just don't know what she or anyone could have done to save Yahoo. By the time she got there they just didn't have anything in house to save the company.
     
  22. Krazy925

    Krazy925 2[H]4U

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    Not buying tumblr probably wouldn't have hurt.

    Maybe try to use yahoo to push Ali business stateside.
     
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  23. Etherton

    Etherton Will Bang for Poof

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    Flickr has been acting up the past week or so. Bet they pull the plug.
     
  24. Burticus

    Burticus 2[H]4U

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    I feel like I deserve an opportunity to take a company and drive it into the ground, and get paid millions. I'm sure I couldn't do a worse job that Marissa.
     
  25. heatlesssun

    heatlesssun [H]ard as it Gets

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    There any number of jobs anyone could probably do as well as the person with the credentials and experience commensurate with that position. But unfortunately most big companies don't just hire as CEO though it would be interesting to see the results if they did. Very few CEOs are probably worth what they are paid, at that level your paid because that's just what those kinds of jobs pay. Not saying it's easy, there's was nothing easy about the Yahoo CEO job. But yeah, most anyone would could have produced the same results in this case.
     
  26. Unexploded

    Unexploded Limp Gawd

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    Stopped people from working from home is about the only "accomplishment" I'll remember. Mainly because it started to spread to my employer.
    $23 million was just her severance. All in, she walked away with about $260 million
     
  27. Budzman

    Budzman [H]ard|Gawd

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    Maybe she can buy a new laugh with that.
     
  28. Airbrushkid

    Airbrushkid 2[H]4U

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    They don't give awards for that.

     
  29. Airbrushkid

    Airbrushkid 2[H]4U

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    I just thought you didn't read it right. Just 8 or 9 years Microsoft offered $44 billion for Yahoo.


     
  30. HockeyJon

    HockeyJon [H]ard|Gawd

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    Yeah, but when you consider Facebook paid $19 billion for WhatsApp, it's becoming harder and harder to rationalize deals being made in the tech industry these days. Feels like 1999 all over again.
     
  31. potency

    potency Gawd

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    Dingy? You'd think someone with her income could afford a bath...
     
  32. tetris42

    tetris42 [H]ardness Supreme

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    That's why they get paid the big bucks.
     
  33. gulguran

    gulguran Limp Gawd

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    Talked a big game and failed in exactly the same way anyone with a brain said she would.
     
  34. gglenn

    gglenn [H]Lite

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    $23M!? I would have happily destroyed Yahoo for half the price.