Struggling Yahoo to Cease Being a Publicly Traded Company
Yahoo’s fall from grace has been steady, and the series of setbacks suffered by the company drives its latest news. According to the Associated Press, the once digital giant, amidst declining revenue, plans to stop operating as a public company.
Yahoo actually performed better than expected for the first three months of 2017. But these results, released earlier in the week, are too little, too late. They will be the company’s last quarterly report in its 20-plus year history.
The company’s sale to Verizon for $4.5 billion will be finalized in June. After the takeover is completed, Yahoo will be absorbed by a new company called Altaba, which will include its $8 billion cash valuation and its stock in Chinese juggernaut Alibaba Group and Yahoo Japan.
For more on the rise and fall of Yahoo, watch the video below from CNN Money.