Yahoo is an internet company famous for its web portal and email services.
The multi-billion dollar company with a global reach focusing on web services is based in Sunnyvale, California, US.
The company was founded in March 1995 by Jerry Yang and David Filo. It is currently headed by CEO Marissa Mayer and Maynard Webb serves as chairman.
Filo still holds a position at the company as Chief Yahoo Officer.
Who is buying Yahoo?
Main services provided by Yahoo include its web portal and search engine. The web services provider is also known for its Yahoo News, Yahoo Mail, Yahoo Finance, Yahoo Sports, Yahoo Search, Yahoo Messenger, Yahoo! Answers.
The company also owns social media platform and microblogging platform Tumblr and online imagine and video storage platform Flickr.
Yahoo’s services are used by an estimated 700 million people and the company’s main website, yahoo.com, ranks fifth on Alexa’s ranking of the most visited web pages on the internet.
Although Yahoo was once of the most popular portals on the Internet, it has seen a decline in revenue and users over the past few years.
In July 2016 Verizon revealed that it was planning to acquire Yahoo’s Internet assets in a deal worth $4.8bn.
However, since the acquisition plans were announced numerous revelations regarding data breaches and hacks have come to light.
Due to the extent of the security breaches and the damage to its reputation, Verizon and Yahoo came to an agreement that will see Verizon pay $350 million less than the originally agreed price.
The deal is now set to be worth around $4.48bn.