An American multinational company, Yahoo was the pioneer in internet usage during the 1900s. It was well-known all over the world for its search engine Yahoo! Search. It has also other related services which include Yahoo! Mail, Yahoo! Finance, Yahoo! News, Yahoo! Fantasy Sports etc. Though one of the most well-known and popular, globally, Yahoo started to lose its aura from the late 2000s. Finally, on February 2017, Verizon Communications declared its intent to obtain the internet business of it.
ACQUIRING OF YAHOO
Verizon acquired the assets of Yahoo Inc. after a deal of five billion dollars. It will team up with the operations provided by it with that of AOL, which is another company obtained by Verizon in 2015. A new entity Oath will be created merging these two giant companies which will primarily focus on online services, digital media and advertising etc. Oath will belong to Verizon, which is itself a company that deals with wireless networks. As a result of the merger, Verizon will attract a lot of users, estimated over a billion, from all over the world. However, it also has a lot of challenges to overcome.
FEATURES OF OATH
The new platform Oath, will have services offered from both Yahoo and AOL. A technological explorer, it has brands in different categories. It has also one of the most used mail services. Popular features from it like the Mail, Finance and Tumblr may remain. After two data breaches which affected more than one billion accounts it asked its users to reset their passwords. It’s Fantasy Sports will also retain its own brand and will not be rebranded as Oath Fantasy Baseball. AOL, another famous technology firm had obtained near about fifty brands like the Huffington Post, Engadget, Tumblr and TechCrunch. Oath aims to work upon the resources offered by both to reach out to a wider audience.
In other words, Oath will serve as an umbrella brand that will have the familiar names known by its users. The figures of one billion consumers who utilize the collection of more than fifty brands shows that it is one of the most sought after online destination. Tim Armstrong, former CEO of AOL, will head this new platform. He is positive about the very next move as he says that corporate brands like both,” go away to be replaced by Oath under Verizon “. Therefore, the users need not worry about the changes right now.
Yahoo CEO Marissa Meyer will resign this July after Verizon had fully acquired it’s internet business excluding the stakes in the Alibaba group and Yahoo Japan. This deal provides Verizon a portfolio of advertisement technology assets and digital properties which will be major positive move in alluring more users. It is supposed to be a third entity in the digital advertising market as it may collect five billion in advertisement sales after taking of it’s business.