The Internet pioneer Yahoo! Is about to sell itself as the company’s CEO Marissa Mayer hasn’t been able to turn around the ailing giant, according to this Wall Street Journal update. Yahoo’s 15% stake in the Chinese e-commerce giant Alibaba may also be sold along with its other Internet businesses.
According to the company sources although Marissa Mayers has been able to stabilise the company which was rapidly declining, Yahoo hasn’t been able to introduce any breakthrough products during her three-year tenure and it has been continuously falling behind its competitors like Facebook and Google.
You will be surprised to know that Yahoo was first a simple website named Jerry and David’s Guide to the World Wide Web before growing into one of the biggest Internet businesses.
As the new companies to the Internet by storm, somehow Yahoo couldn’t keep up. It completely got left behind during web 2.0. One of Google’s top executives, Marissa Mayer was hired hoping that she would be able to turn around the company. Under her the company acquired the blogging platform Tumblr and the apparel online store Polyvore.
The situation about the overall performance of the company is said to be so miserable that take out its stakes in Alibaba and Yahoo Japan (which is controlled by a Japanese investment firm called SoftBank) and the company’s value remains almost zero.