Yahoo! wants to return to the stock exchange – Kommersant
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CEO of Internet company Yahoo! Jim Lanzone in an interview Financial Times announced plans to bring it to an IPO and return the status of a public company. For the first time, Yahoo! entered the IPO in 1996 and at one time was the largest Internet search engine in the world.
In the 2000s, Yahoo! faced growing competition from Google and began to gradually lose ground. In early 2008 Microsoft suggested buy Yahoo! for $44.6 billion, but the then management of the Internet company responded with a decisive refusal. In the fall of 2008, the global financial crisis began, which seriously hit the Internet advertising market and further weakened the company’s position. After that, Yahoo! she approached Microsoft with a deal, but she turned it down. Shares of Yahoo! began to lose value, and the Internet company itself began to lose market share under the pressure of competition from Google.
In 2017 Yahoo! was sold for $4.48 billion to wireless provider Verizon Communications, which began restructuring the former Internet giant. In 2021, failing to bring Yahoo! For sustainable profits, Verizon sold the Internet company for $5 billion to private investment fund Apollo. This investment fund, like some others, specializes in the purchase of distressed assets, their restructuring and subsequent sale at a profit or IPO.
According to Mr. Lanzone, who previously headed the well-known online dating service Tinder, Yahoo! as a private company allowed it to make the necessary structural changes and prepare to return to the status of a large public company. According to him, Yahoo! is still in the top 3 in terms of search volume on the web, but its share is still too small to compete with Google and Microsoft’s Bing search engine. “I hope we can win back our positions,” says Jim Lanzone. “I’m very optimistic. I believe that the burgeoning AI is giving us new opportunities across a range of our products.”
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