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Official: Yahoo is now on sale

 


Yahoo has been put on sale, this was done after the company announced it’s fourth quarter earnings. In addition to being on sale, the company will be letting go %15  of their employee.

According to the official statement released on the company’s investor site: Marissa Mayer, CEO of Yahoo said “Today, we’re announcing a strategic plan that we strongly believe will enable us to accelerate Yahoo’s transformation,”.

Haven lost $4.53 billion dollars in 2015, despite making a profit of $63 million On its Q4 earnings report. The company saw the option of sale as self-preservation path, its hoped to be in the best interest for shareholders, brighten the company’s future and increase competitiveness.

Maynard Webb, Chairman of the Board said, “The Board also believes that exploring additional strategic alternatives, in parallel to the execution of the management plan, is in the best interest of our shareholders”.

Webb, further stated that a primary focus of the company is to continue separating its Alibaba stake from the company’s operating business, and is Yahoo’s most direct path to value maximization. Webb further noted that “in addition to continuing work on the reverse spin, which we’ve discussed previously, we will engage on qualified strategic proposals.”

Yahoo services will still be very much open to its users, even as the company continues to search for new owners.

Source: Yahoonet

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Ifeanyi Joseph

Writer, tech enthusiast, and sport aficionado. You can find him on Facebook @ fb.com/okondu.

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