Yahoo was once regarded as the “King of the Internet”, worth $125 billion in its time the way Facebook or Google are today. Now it’s being sold to Verizon for comparatively chump change.This morning, Verizon announced the end of the long process of acquiring Yahoo’s core business for just under $4.8 billion. This transaction ends the independence of one of Silicon Valley’s most iconic pioneering companies. Yahoo’s seventh and final CEO, Marissa Mayer, will reportedly depart with severance pay worth more than $50 million.
The sale will unite Yahoo with AOL, the first web portal Verizon bought last year for $4.4 billion. The United States’ largest wireless provider is betting nearly $10 billion that combining the two formerly dominant websites will give it an edge in mobile content and advertising technology it can leverage across its more than 140 million subscribers.
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