Yahoo is under renewed scrutiny after its second disclosure of breach within this year. The major hacking incidents the company has been involved in puts a risk on its deal with Verizon. Although Verizon has not confirmed any plans of ditching the purchase, reports indicated that the company is demanding for better deal terms for the acquisition.
Yahoo disclosed a 2013 cyber security breach that may have stolen data from around one billion users worldwide. This is the second disclosure of the company about hackers' intrusion in their system. Yahoo announced a 2014 attack in September.
Yahoo believes that it has still value so it does not have to go down with Verizon.
Verizon was now pushing Yahoo for a $1 Billion off on its pending agreement.
Yahoo Inc’s revenues may drop by 15 percent for 2016 year, while earnings are also predicted to tumble 20 percent. The global internet company is expected to slash jobs by 1,500 to 9,000 in 2016.
Yahoo potential buyers only have until April 11 to submit their bid. Along with the proposed amount are details on how the purchase would be financed, conditions or approvals to be met and what important foundation to make by deciding to push through with a deal. Verizon and Time Inc. already shown interest to acquire Yahoo’s core business the past few months.
Time Inc. which owns Sports Illustrated and People magazine to name a few, expressed its interest in buying Yahoo. It said that it is interested too in Yahoo's core business which reaches more than 1 billion users across the globe aside from taking into consideration the Reverse Morris Trust. The magazine company will vie with other giant companies including Verizon and AT&T. core business
Yahoo on Friday announced the strategic alternative to sell its core business. Following the announcement, the company's shares climbed.
Yahoo announced another round of layoff after early February cutoff. Around 300 employees in California office will lose their jobs.
The Wikimedia Foundation received a $250,000 grant to support its early stages of search engine project, The Knowledge Engine. The project will develop a search engine that goes across Wikipedia and other Wikimedia’s services, allowing users to obtain relevant information more easily.
Yahoo’s planned restructuring plan had started on Wednesday, whereas 107 employees had received a written notice that after 60 days they would have to leave the office. That would be the first batch of what is expected to be a much bigger job cuts of 1,500 employees or 15 percent of the company’s workforce.
It was confirmed by Verizon CEO Lowell McAdam that Verizon is interested in acquiring Yahoo. The Internet search company had difficult times in the past years as many other companies had their market share in the online and mobile business. This promts Yahoo to reconstruct its business including cutting jobs.
After a massive loss of $4.3 billion in Q4, Yahoo will struggle much more to return to profitability. The Internet company decided to cut its employment by 15%, close some offices and explore strategic alternatives.
SpringOwl Asset Management managing director Eric Jackson recommends Yahoo to replace CEO Marissa Mayer and cut 9,000 of its workforce.
Two months before, Yahoo declared a new Yahoo Mail app which supports Hotmail, AOL and Outlook accounts. Now, Gmail has joined too. Yahoo Mail is also best email service provider like Gmail or Hotmail. But recently Yahoo has added new features.