Since the news about the new owners of Verizon Media, Many people have been trying to find out who the new owners are. The buying and renaming of Verizon Media have been making the headlines. Let’s get to see who the new owners are and some other interesting facts about the new Verizon Media name. In this article we will see about Does Verizon Own Yahoo?
Does Verizon Own Yahoo?
Verizon Media which was known as Yahoo and AOL has recently switched owners and now goes by the name Yahoo only and no longer Verizon Media. The news was announced by Verizon Media that it was going to sell its properties to a new owner. The new owner of Verizon Media which now goes by the name Yahoo was Apollo Global Management. The deed was carried out in May and was sold for $5billion. This is just half of the amount which the Telecom industry initially gave to them.
When Did Verizon Purchase AOL?
Verizon got AOL in 2015 for the sum of $4.5 billion. This came with the other Media outlets such as Yahoo Sports, Engadget, and the likes. This was in 2019 after which the name was changed to Verizon Media in the year 2019.
Who Is Now The New CEO Of Yahoo?
Yahoo, which is the new name of Verizon Media, has a new CEO. His name is Guru Gowrappan. It will now be run as a solo establishment and Apollo Funds will preside over it.
What Is Apollo?
Apollo is a privately owned establishment with many properties including the Venetian resort in Las Vegas. The new CEO Gowrappan was very excited and was happy to welcome the new change. He said that the entire Organization is hoping and expecting new initiatives and plans for Yahoo in the coming years. And also keenly looking forward to joining with other partners who would be interested to work with them. The New acquisition marked an end to Verizon’s partnership with Media and advertisement.
Who Is The New Apollo Partner?
The new Apollo partner is Reed Rayman. He was greatly impressed and respects the brand and sees potential in Yahoo, and is looking forward to new partnerships as well. He was also excited to work with the new owner of Yahoo and increase the growth of the Organization in the coming years. Both Gowrappan and Reed have a common agenda for the new brand.
How Much Did Verizon Sell Tumblr?
Verizon sold Tumblr in 2019. However, the amount which was used to buy Tumblr was not disclosed. But from the speculations, Tumblr was sold for less than $3million. When comparing it to the amount which Yahoo gave for the blog brand in 2013.
What Is AOL?
In the past, AOL was a platform for connections and engagements. It helped people to meet on the internet and Yahoo used to be the first page. In the rise of AOL, it had about $200 billion in its market capital while Yahoo had more than $1billion in its market capitalization. On May 4, 20211 Verizon sold AOL and Yahoo for just 1 percent of their rank calculation. From the records, Yahoo and AOL were bought for more than$125 a billion and also $200 billion. Some estimates say it was between$193 billion and 318 billion dollars. This was around 2021.
Did Yahoo Want To Buy Google?
There was a time that Yahoo was getting opinions about buying Google. At an amount that is tagged as not half of its recent cost. But AOL had some chats with Facebook and YouTube, this was in the year 2006. But they, unfortunately, could not buy any of the companies. From recent records, the sum of both Organizations is about 187 times lower than Facebook’s market capitalization.And it is now 318 times lower than that of Google.
What Happened To Apollo?
Well from the looks of things then, Apollo made a mistake that caused serious issues in both the Organizations. AOL bought the Time Warner company for 182 billion dollars in the year 2000. This made the company enter into very serious debts. This made AOL and its services inefficient. The deal however made AOL remain buoyant for some time. But it became hard for AOL to carry out its objective and this made them get rough losses.
Did Yahoo Suffer A Loss?
Yes, they did. They also had really bad debts. It spent a huge amount trying to buy Geocities and Broadcast.com. This made the organization go down. Combining the 1.1 billion loss it spent on Tumblr in 2013, and the occured a huge dollar loss in 1999. It also sold Tumblr for a price lower than 3 million dollars in the year 2019. In 2012, it sold almost half of its 40 percent market capital in Alibaba for 7.6 million dollars. This was before Alibaba became known. Then in the year 2008, it refused an offer of takeover from Microsoft. Then for it to sell Verizon for just 10 percent.
What Happened To Verizon?
Verizon was acquired by Yahoo in 2017. This was for a sum of 4.48 billion dollars. And it also purchased AOL in the year 2015 for 4.4 billion dollars. The essence of this was to make sure that the brands could rise better in the world of Telecom. It was also to give the brands enough data so that they could reach up to their targets in advertising for their media properties.
Conclusion
These Telecom giants have experienced times of loss and the times they reaped. This is common in the world of business, the ability to bounce back makes the difference but it’s not an easy process either. The loss can have really huge effects and can take some time for the owners to get back on their feet. Several of these Telecom Organizations try to remain afloat and it’s not always a nice tale to tell. Not just Verizon alone.
