Verizon just sold AOL and Yahoo for only $5 billion dollars to a private equity firm Apollo Global Management. But the new owner will still continue to use “YAHOO”.
David Sambur, Senior Partner and Co-Head of Private Equity at Apollo said.
“We are big believers in the growth prospects of Yahoo and the macro tailwinds driving growth in digital media, advertising technology and consumer internet platforms.
The telecom giant bought the Yahoo way back in July 2016 for $4.83 billion and AOL for $4.4 billion in 2015, and now they are selling for almost 50% overall loss business insider report.