Verizon has officially acquired Yahoo.
Verizon has officially acquired Yahoo for a cool $4.83 billion but the company's CEO, Marissa Mayer, has announced that she plans to stay on as head of the company through the transition phase.
Mayer joined Yahoo four years ago and promised to rejuvenate the company but despite Yahoo's one billion monthly active users they've finally decided to sell in a deal which will be finalized early next year.
However, under her employment agreement, Mayer would receive a severance compensation package worth about $55 million if she is indeed terminated as CEO after the sale of Yahoo’s businesses to Verizon.
You can check out her full memo to the "Yahoos" right here.
In 2000 the combined value of Yahoo and AOL was just north of $300 Billion.— Dr. Sundance (@MLGSundance) July 25, 2016
They both sold to Verizon for a total of $9.2 Billion.