May 3, 2021

Yahoo sold again in new bid to revive its fortunes

Two pioneering web services of the internet age, Yahoo and AOL, have been sold again after the latest owner failed to revive their fortunes. US telecoms giant Verizon is selling its media assets, which include the two companies, to a US private equity firm in a deal worth $5bn. Verizon bought Yahoo in 2017 and AOL in 2015 for a combined $9bn. Yahoo and AOL were once trailblazers, but were subsequently overshadowed by firms like Google and Facebook. Over the last decade, Yahoo and AOL have faced an uphill struggle against more powerful rivals like Google, Bing, Facebook, Twitter, ESPN, Fandango and, due to a saturated internet market. Verizon bought Yahoo to combine its search, email and messenger assets, as well as its advertising technology tools, with the AOL platform. Today Yahoo's homepage still commands a huge audience, as "Netizens" check their Yahoo! Mail accounts.

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