Yahoo used to be a giant. Now it's down to its last hurrah

Will somebody please put Yahoo, the fading internet star, out of its misery? The Silicon Valley company, destined to labour in the shadows of Google and Facebook, recruited Goldman Sachs this week to defend itself against circling predators. Top name in the bidders' frame is AOL, another blast from the Web 1.0 past.

As far as Yahoo shareholders are concerned, it's deja vu – and not in a good way. Microsoft tried to buy the company back in 2008 for $33 a share, making it worth $47.5bn. In a spectacular display of egotistical boardroom intransigence, Yahoo's co-founder Jerry Yang, who styled himself at the time as "chief Yahoo", dug his heels in, insisting the firm could prosper independently.

Yahoo's shares have since dwindled to just over $16, valuing the business this week at $22bn.

Read Full Article from The Guardian

- Posted: 2010-10-17 14:08:42

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