Verizon acquires Yahoo in $5 billion deal

US mobile network Verizon has bought Yahoo in a $5 billion dealUS mobile network Verizon has bought Yahoo in a $5 billion deal

For many millennials, Yahoo was their first introduction to the worldwide web – a portal to an exciting new experience. But more recently, it’s become an anachronism, lagging behind the competition, and is struggling to maintain its place in a fast-moving field. Once valued at $125 billion, it has now been sold for less than $5 billion to US mobile network Verizon. In last quarter alone, the company lost half a billion dollars but Verizon wants it not for its existing business model, but for its billion-a-month visitors. Read more…

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