Wall Street Journal reports that Yahoo may be selling itself off
Once the destiny’s child of the Internet technology, Yahoo seems to have gone astray big time. Yahoo which once ruled the Internet with a steel like grip has been undone due to intense competition from bitter rivals including Google. Now Yahoo honchos are considering selling it to a bidder.
Yahoo tried to turn around its sagging profits but they have not been successful. Lower visibility and high attrition rates have combined to compel the company to look forward to other sources of businesses for profits. Its bottom line is heavily dependent on both its Japanese business as well as its stake in Chinese internet giant Alibaba.
Now Yahoo is considering to be sold of lock stock and barrel to the highest bidder. Sources for the Wall Street Journal stated that Yahoo is holding a “marathon” number of board meetings where the possibility of selling the company’s core business is on the table. It’s not certain how serious the web pioneer might be, but private equity firms are reportedly taking a peek.
Yahoo hasn’t commented on the apparent leak so far. In 2008, Microsoft had bid for Yahoo takeover. If the news is correct, Microsoft may again bid for Yahoo in order to take on its arch rival Google in the Internet space.