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Yahoo as we know it has been sold to Verizon for $4.83bn marking the end of an era for a company that once defined the internet. Verizon won the bid after a five-month auction that includes all of Yahoo’s search, communications and digital content products/services. The sale does not include Yahoo’s cash, nor its stakes in Alibaba Group Holdings and Yahoo Japan.
According to the BBC, Verizon prevailed over rival bidders for Yahoo, including AT&T; a group led by Quicken Loans founder Dan Gilbert and backed by billionaire Warren Buffett; private equity firm TPG Capital; and a consortium of buyout firms Vector Capital and Sycamore Partners.
So what is next for Yahoo?
Yahoo will be combined with AOL, another faded internet star, which Verizon bought last year.
In Marissa Meyer’s words: