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Tuesday, May 4, 2021

Yahoo Has Been Sold For $5billion To A Private Equity Firm

 Two pioneering web services of the internet age, Yahoo and AOL, have been sold again after the latest owner failed to revive their fortunes.

US telecoms giant Verizon is selling its media assets, which include the two companies, to a US private equity firm in a deal worth $5bn (£3.6bn).

Verizon bought Yahoo in 2017 and AOL in 2015 for a combined $9bn.

Yahoo and AOL were once trailblazers, but were subsequently overshadowed by firms like Google and Facebook.

By providing free web mail and chat messenger services, the two firms had a cornerstone for online advertising on the market, as most internet users in the early 2000s were accessing their websites and software on a daily basis.

Yahoo also provided everything from the news, weather reports, sports results and movie release dates; to message boards, its own version of eBay - Yahoo! Auctions - and real-time markets data.

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