Bought by Verizon for a fraction of its previous valuations (from $125 billion to just under $5 billion), one of the hottest properties online, the place where many people experienced the internet for the first time: now simply an investment vehicle where substantial shares from successful internet companies (Ali Baba et al) are parked. Yahoo, you must remove your once-quirky exclamation point immediately.
My favourite, and possibly most saddening, quote from the BBC’s write-up of the takeover:
Verizon will now likely merge Yahoo with AOL, the company it bought last year for $4.4bn. A Yahoo-AOL pairing has been expected for years. The companies are like two high school friends who everyone knew would eventually get together, but only when the time was right. Or maybe when they were both a bit desperate.
Full article here: http://www.bbc.com/news/technology-36881101
Image taken from here: http://thenextcorner.com/2011/12/yahoo-billboard/
Further thoughts from Ashton and Ashton on the ramifications in the online media space and what that means for brands and agencies will follow here soon…