Mayer’s hiring in 2012 was deemed a ‘coup’ but costly gambles, such as the $1.1bn acquisition of Tumblr, came to epitomize her doomed effort to reinvent Yahoo
The sale of Yahoo to Verizon for $4.83bn (£3.62bn) marks the end of a period of intense speculation and ferocious investor activism at the embattled web company. Andfor the past four years, CEO Marissa Mayer has borne the brunt of that protest, while attempting to turn around Yahoo’s fortunes.
Yahoo’s years-long profits slump was made worse by bad investments that came to a head at the beginning of 2016 when the company reported a $4.4bn loss. Expensive gambles, such as the $1.1bn acquisition of Tumblr in 2013, came to epitomize Mayer’s bold but ultimately doomed attempt to reinvent Yahoo as a media platform that would attract younger users and turn the company’s fortunes around.