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The report, released Tuesday, said Yahoo was “financially ready” and very profitable.
Yahoo first went public in 1996 and soon became one of the most popular websites in the world. In 2017, US telecommunications company Verizon took over the weakening portal. The brand suffered significant losses in competition with technology giants such as Google and Facebook. Yahoo is owned by New York-based financial investor Apollo, who has bought the company from Verizon for about $5 billion since 2021.
In his meeting with «FT», Lanzone also pointed out that Yahoo is still one of the five most popular websites in the world today. Brands such as Yahoo Finance or Techcrunch are also owned by the company. Lanzone has announced that it will keep its eyes open for interesting takeover opportunities. Yahoo recently acquired sports betting app Wagr to expand its own sports business.
Lanzone, who previously ran the online dating platform Tinder, arrived in 2021 with the task of turning Yahoo back into an independent company. However, under the Apollo umbrella, it was possible to make structural changes and create a solid business model.
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
