Verizon closes $4.5 billion purchase of Yahoo

June 15, 2017: Marissa Mayer announced on Tuesday, June 13, 2017, that she plans to resign as the Chief Executive Officer of Yahoo. Mayer announced her resignation in a message to employees that confirmed that Yahoo’s $4.5 billion sale to Verizon has closed. “It’s an emotional time for all of us,” Mayer wrote in a blog post. “Given the inherent changes to my role, I’ll be leaving the company. However, I want all of you to know that I’m brimming with nostalgia, gratitude, and optimism.” Mayer’s nearly five years leading the Sunnyvale, Calif., internet company were notable for her failure to reverse its declining fortunes and for two world-record hacks of user data. But in her message to workers, Mayer pointed at achievements by the firm that were largely overshadowed by the troubles. Yahoo has drawn in more than a billion monthly users, making it one of three internet companies in the world to have that number of viewers, while increasing monthly mobile users to more than 650 million, Mayer said. She pointed to the business areas she has dubbed “mavens,” meaning mobile, video, native advertising and social, saying they generated more than $2 billion in revenue in 2016, 42 percent of the company’s total income, up tenfold from 2012.

Attribution: The Bay Area News Group, The Mercury News

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