According to Wall Street Journal Yahoo’s Board Plans to selling off their core business to Chinese internet giant Alibaba. The reason behind this decision is Yahoo’s stock price has been fallen more than 30 percent within this year for the poor performance. It seems like selling off is the only option available for the company’s board members.
To understand how much trouble Yahoo is in take look below. Alibaba has currently company’s 15% share which is roughly worth $32 billion, while its stake in Yahoo Japan is about $8.5 billion. Analysts estimated that total segment of Yahoos business is worth about $3.9 billion. Over the past few years Yahoo’s worst performance highly attributed to its president and CEO Marissa Mayer, who moved from Google on 2012 to take charge of this struggling company.
After all the efforts taken by Mayer, she didn’t able to revive Yahoo’s condition. In her leadership acquired microblogging platform Tumblr for $1.1 billion and fashion brand Polyvore for about $200 million. However Yahoo Still have massive amount of audience. According to Alexa it’s still maintain the top ten positional sites in US, India and Mexico.