However, in 2017,
Yahoo's new parent company Verizon reported that the attack was significantly larger than previously reported.
Nonetheless,
Yahoo announced that the '
Yahoo ID will continue to work for other
Yahoo products, like
Yahoo Mail,
Yahoo Fantasy, etc.'
The company has agreed to tender at least 613,888,888 shares in the tender offer and other
Yahoo Japan shareholders will also be able to do the same, in the offer.
Yahoo will be integrated with AOL under Marni Walden, EVP and president of the product innovation and new businesses organisation at Verizon.
Yahoo remains a major force online, but has lagged its rivals in its ability to "monetize" its audience through advertising that is linked to customers' browsing and other online activities.
Yahoo was the 'go-to destination' to find good content on internet but it failed to develop a new niche after the dot-com bubble burst.
Yahoo will add momentum to Verizon's already formidable ability to target audiences with the right marketing messages based on user behavior.
announced plans to buy
Yahoo's assets for about $4.8 Billion.
The internet search firm has come under pressure from shareholders angry with a downturn in the company's performance over the past eight years as
Yahoo has lost out to the likes of Google and Facebook.
The deal will include
Yahoo's email service and news, finance and sports websites, photo storage site Flickr and its advertising tools.
The purchase will boost Verizon's AOL internet business, which it bought last year for $ 4.4 billion, as it gains access to
Yahoo's ad technology tools, BrightRoll and Flurry, and search, mail and messenger assets.
The purchase of
Yahoo's operations will boost Verizon's AOL internet business, which it bought last year for $4.4 billion, and give it access to
Yahoo's ad technology tools, BrightRoll and Flurry, and assets such as search, mail and messenger.
NEW YORK, Shawwal 19, 1437, July 24, 2016, SPA -- Verizon has agreed to buy online portal
Yahoo Inc.
Yahoo is shutting down several verticals (also known as digital magazines).