Verizon Communications buys Yahoo for $4.8 billion !!!!!

Yahoo

We heard of Nokia, EMC, LinkedIn, FriendFeed, and a couple of others being sold, here is another surprise news from the supposed biggest Tech Company, 'Yahoo sold itself' floating on the headline of The New York Times

Yahoo, the web pioneer that was once valued at $125 billion now is being sold for less than $5 billion. Yahoo was once the door to the web, but the unforgiving web 2.0 have no mercy for the Internet services pioneers !

While I was wondering what could have gone wrong with the venerable Yahoo, I recalled that 'Nokia equally did nothing wrong' and LinkedIn definitely have a similar line of quote.

Report have it that Yahoo, the Internet portal giant, has been struggling for a decade to find a winning strategy against competitors in search, social media and video couple with pressure from the stake holders.
Now it is poised to give up, selling itself to Verizon for a small fraction of what it was worth at its height in 2000.

Gone the good old days when

#YahooMessenger
#YahooMail

#Yahoo_GeoCities
# YahooGroups
were ruling the web !

source: The New York Times African IT Geeks

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