Yahoo, one of the oldest and most renowned internet companies, is planning to go back to the stock exchange in order to reclaim its position in the spotlight. According to Yahoo CEO Jim Lanzone, the company is financially prepared for this move, boasting impressive business figures and profitability. In terms of internet traffic, Yahoo and its subsidiary brands remain among the top five platforms globally.
Lanzone believes that Yahoo’s best days are still ahead, stating that the company will also be open to exploring interesting takeover opportunities. Yahoo has had a checkered history since its establishment in 1994, experiencing significant success before facing a decline in the early 2000s as competitors like Google surged ahead. In 2008, Yahoo rejected a takeover bid from Microsoft worth nearly $45 billion, which ultimatley led to its acquisition by US provider Verizon in 2017 for less than $5 billion.
With this acquisition, Yahoo became a part of Verizon Media and, together with AOL, formed Oath. However, in 2021, majority ownership of Yahoo was taken over by US investor Apollo, who brought in Jim Lanzone to lead the company’s transformation into an independent entity. Yahoo currently runs a search engine and a comprehensive news portal on its website, along with other brands like Techcrunch and Engadget. Notably, Flickr and Tumblr have been sold to other parties.
Despite still ranking in the top three globally for search engines, Lanzone acknowledges that Yahoo’s search engine is currently too small to compete with Google and Bing. However, he believes that artificial intelligence could help them regain their competitive edge. Overall, Yahoo’s return to the stock exchange marks a strategic move to revitalize the company and position it for future growth and success.
