Verizon just bought out Yahoo for $4.38 billion…in cash (yea, that’s a lot of money).
One of the nation’s largest telecommunication companies is adding Yahoo to their roster which also includes AOL (Verizon bought them out last year). But what’s the intention behind these major buyouts?
Here are five things you need to know:
1. Verizon is looking to up their digital advertising game and be a contender to Facebook and Google.
2. Yahoo’s CEO, Marissa Mayer, isn’t leaving…just yet. She plans to stay at Yahoo into this next venture but it hasn’t been decided if she’ll have a role after the deal closes in 2017.
3. According to AOL CEO, Tim Armstrong, this acquisition will strengthen Verizon’s offers to advertisers and consumers as Yahoo has up to one billion visitors per month.
4. Verizon plans to keep most of Yahoo’s products, including the email services. They are still contemplating on what to do with the search engine.
5. Mayer believes that this acquisition will help Yahoo gain better distribution of its mobile apps like mail, news, weather, and sports.
xx, The FabFitFun Team
