July 9, 2020, 10:29

Verizon Communications Contemplated Selling Yahoo Finance Platform – Reports

Verizon Communications Contemplated Selling Yahoo Finance Platform – Reports

Verizon purchased Yahoo in 2017 at a time when the once successful independent Internet company had been suffering a substantial decline.

Verizon Communications Inc sought a buyer for financial news platform Yahoo Finance earlier this year, according to Reuters citing anonymous sources. The sources reported that Verizon did not officially launch an official sales process, trying to find the buyer below the radar.

The report notes that the corporation eventually halted its search. There has been no information regarding the sum Verizon was ready to accept for the platform, nor the parties interested in the purchase.

AP Photo / Bebeto MatthewsIn this Tuesday, May 2, 2017 photo, people walk past a Verizon store in Manhattan’s midtown area, in New York

The company itself refused to comment on the rumours, underlining that Yahoo Finance is an integral part of Verizon Media’s strategic growth.

Yahoo was founded in 1994 becoming one of the pioneers of the early Internet era in the 90s. Yahoo! comprises a variety of services including Yahoo!Search, Yahoo!News, Yahoo!Finance and many more. Yahoo!Search, the second largest search engine worldwide, was launched in 1995. In January 2010, Microsoft took over the functional operation of Yahoo!Search, and set up a joint venture to sell advertising on both Yahoo! Search and Bing known as the Microsoft Search Alliance. 

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