Yahoo CEO Marissa Mayer resigns, cites achievements by fallen firm as Verizon deal closes
Verizon officially closed its $4.5 billion agreement to purchase Yahoo. Yahoo CEO Marissa Mayer announced her resignation in a message to employees. “It’s an emotional time for all of us,” Mayer wrote in a blog post. “Given the inherent changes to my role, I’ll be leaving the company. However, I want all of you to know that I’m brimming with nostalgia, gratitude, and optimism.”
“Yahoo’s imprint and impact on the valley will long outlive its own history,” said Silicon Valley Leadership Group CEO Carl Guardino. “For so many years, (its) creative culture and the individual leaders left an indelible mark on the valley.”
Yahoo’s drawn-out, painful demise seemed as much about the laws of nature as the laws of business, as it struggled in vain to keep its strength while a wily predator gobbled up its sustenance. Once that upstart Google came onto the internet scene with a better algorithm for searching, Yahoo’s kicking and flailing at a digital advertising market that had left it behind provided drama that time after time captivated Silicon Valley. It made for an epic tale that showcased the power of rapidly changing technology to both create and destroy.
Yahoo CEO Marissa Mayer resigns, cites achievements by fallen firm as Verizon deal closes Yahoo: Fall of a giant, end of an era (Fall of a giant) Verizon completes Yahoo acquisition, creating a diverse house of 50+ brands under new Oath subsidiary (Verizon press release) Verizon Seals $4.5 Billion Yahoo Purchase as Mayer Heads Out (Bloomberg) Yahoo-Verizon deal closes. It's the fall of a giant, end of an era (LA Times) Oath arises as Verizon closes deals for Yahoo, as former CEO Mayer departs (USA Today) It’s official: Verizon finally buys Yahoo (Washington Post) Yahoo and AOL are now a Verizon subsidiary called “Oath” (ars technica)