Yahoo when it was at its peak in early 2000 was worth $255 billion. After that Yahoo never really recovered from the dot-com bust and after a series of missteps, bad bets and six CEOs over the past nine years finally Yahoo is out for sale and is now valued at $34 billion.
That $34 billion too is roughly the value of its stake in its Asian holdings. In other words, the stock market is valuing Yahoo’s core Internet business as completely worthless.
After a promising start as CEO in 2012, Mayer has been unable to grow the company’s profit. Yahoo, in February unveiled a new strategy by cutting down the staff and focusing on its most crucial businesses but it appears to be too little, too late.
Yahoo after the series of losses is now finally out for sale, and bidders are lining up to grab their own ever-shrinking piece of Internet history. The once-great Internet pioneer is entertaining offers. However the CEO Marissa Mayer is not happy with this decision of the investors and she feels that she can take Yahoo through its struggles, but impatient investors are looking for a way to cash it out. As of now Yahoo has set a deadline of April 18th for its bidders and the company is expected to fetch something like $8 billion for its core Internet business.
A lot of companies have entered the bidding for the tech giant and it includes main rival Google, Microsoft, Daily Mail and Time Inc., Verizon etc. They all have ample time to bid for Yahoo which is on sale and the results may be out on April 18th. It is to be noted that Yahoo may accept or decline this offer based on the bid it gets.