Verizon Goes Antique Shopping
Verizon buys Yahoo in $4.8 billion attempt to bore the Internet to death (Techdirt).
Since we’re based in Silicon Valley, we hit the streets to get a feel for sentiment first-hand. These were some of our favorite overheard reactions (Reddit):
- “They could just give 3 billion to me and put another 1 billion in a landfill.”
- “I think this makes sense. Verizon already owns AOL, so they can just add to their collection of companies that no one has any idea how they’re still existing.”
- “To put this in perspective, Yahoo is now worth 5 Dollar Shave Clubs.”
- “Dinosaurs mating.”
- “They deserve each other.”
Believe it or not, this is actually a decent outcome for shareholders. Yahoo’s core business, stripped of Alibaba and Yahoo Japan, was arguably worth less than $0 (Investopedia).
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