Verizon now officially owns Yahoo

The acquisition of between Verizon and Yahoo is finally completed by today, June 13, 2017. It marks the end of the internet giant Yahoo’s dominance over the searching engine, news, email, and advertising. Although Yahoo’s market shares are being eaten slowly by its competitors like Google and Bing overtime, it still worth billions with its enormous size of user database, existing services, and investments globally. Nevertheless, the US congress legalized internet service providers to sell user information at earlier months. Verizon will find a “good use” on these data.

AOL, a former tech giant company that acquired by Verizon in 2015, will form a new company called Oath with Yahoo. The initial price of the acquisition was set to be around $4.8 billion. However, the data breach that leaked about one billion user’s data in December 2016 reduced the price by $350 million.

At the same time, the CEO of AOL Tim Armstrong seemed to be optimistic about this acquisition and merger as he tweeted “Billion+ Consumers, 20+ Brands, Unstoppable Team, #TakeTheOath. Summer 2017.” back in April 3, 2017.

twitter screenshot

As result of this acquisition, 15% of the Yahoo employees (about 2,000) are laid off under the new management. and Yahoo CEO Marissa Mayer resigned and published the last email she sent to Yahoo about the management and experiences in Yahoo since 2012. Services like Yahoo Entertainment, Yahoo Finance, and any international Yahoo websites and investments done by Yahoo are now integrated to be part of Oath.

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