Yahoo's Core Business May Be Sold By Friday
It is best to sell Yahoo's Internet services, CEO Marissa Mayer has decided. Yahoo Inc. is struggling to keep its head above the waters due to competition from rivals like Google and Facebook.
This is the sign of the end of an era for one of the best-known names in the web.
Meetings will take place between Wednesday and Friday, even as the core committee splits hairs on selling off its core business, including Yahoo Mail, news and sports sites, says The Wall Street Journal.
Reports of the sale got some favourable responses, with the market stock moving up by 7 percent in extended trading.
Even though the CEO, Marissa Mayer, a former Google executive, tried to raise the popularity of Yahoo, she did not strike gold anywhere. It has been beaten in search and email by Google and in media by Netflix and Amazon. Even its messaging apps lost to Facebook and Snapchat.
In 2013, the $1 billion acquisition of Tumblr too did not yield anything. Although Yahoo's user base was shot up by about one billion, it did not get any advertisers.
Still, Yahoo is among the most visited web brands in the U.S., with 210 million people visiting its properties in October.
Yahoo is still to comment on the news.