Internet’s pioneer firm Yahoo has decided to go with US telecom firm Verizon after long years of struggle in the digital world. Silicon Valley based Yahoo’s board has agreed to sell Yahoo’s core internet operations and land holdings to Verizon for $4.8bn.
The ageing internet firm has lost its charm it had many years back amidst tough competition and innovation from new boys of the digital world – Google and Facebook.
Yahoo, the ace firm founded at the beginning of the internet era in 1994, has lost its sheen over the last one decade. It was one such fine organization that gave Silicon Valley the image of the entrepreneur’s city. Value of the company reached near to $100 billion just before the dotcom burst of 2000.
But Its failure to catch revenue even after the dot com burst and failure to broaden activities in social media caused its inevitable decline according to industry historians.
There was no innovation as big or near to that made by Google and Facebook from Yahoo. Traffic came low and yahoo failed to attract the netizens for one or another reason.