Marissa Mayer fades out as Yahoo ends its run

AFP, SAN FRANCISCO: Marissa Mayer was hailed as Yahoo’s savior when she took charge of the pioneering internet firm five years ago.
But Mayer was unable to stem the decline of the iconic Silicon Valley company, which is set to close a deal today selling its core internet operations to telecom giant Verizon.
She is likely headed for the exit as Yahoo ends two-decade run as an independent company, getting a departure package worth an estimated $186 million.
Mayer inherited a company in protracted decline, having lost its leadership as an internet search company to Google and falling behind others like Facebook in serving money-making ads to users.
She is the latest in a line of chief executives who tried to reinvent Yahoo, and her experience at rival Google inspired hope.
“Marissa inherited a mess, in a company that had already lost its leadership role in search,” said Creative Strategies president and analyst Tim Bajarin, who has known Yahoo since its early days.
Mayer, 42, joined Google in 1999 as its 20th employee and led efforts for hit products, including its flagship search product and homepage.
At Yahoo, where she became CEO in 2012, she went on a buying spree that included a $1 billion acquisition of blogging platform Tumblr to reach a younger audience.
She also cut more than a thousand jobs.
“Buying your way out of a problem like this is rarely going to solve your trouble,” analyst Rob Enderle of Enderle Group said of acquisitions racked up at Yahoo.
Yahoo’s finances have been skewed by its stake in China’s Alibaba. It bought a 40 percent stake in Alibaba in 2005 for $1 billion and its current holding is now worth many times that amount, dwarfing the value of its internet operations.
It also has a multibillion-dollar stake in Yahoo Japan. These holdings will not be transferred to Verizon but remain in a separate entity named “Altaba.”
A survey released last month by business insights specialty website Owler ranked Mayer as the second most disliked chief executive, behind the head of United Airlines.

Marissa Mayer fades out as Yahoo ends its run

AFP, SAN FRANCISCO: Marissa Mayer was hailed as Yahoos savior when she took charge of the pioneering internet firm five years ago. But Mayer was unable to stem the decline of the iconic Silicon Valley company, which is set to close a deal today selling its core internet operations to telecom giant Verizon. She is likely headed for the exit as Yahoo ends two-decade run as an independent company, getting a departure package worth an estimated $186 million. Mayer inherited a company in protracted decline, having lost its leadership as an internet search company to Google and falling behind others like Facebook in serving money-making ads to users. She is the latest in a line of chief executives who tried to reinvent Yahoo, and her experience at rival Google inspired hope. Marissa inherited a mess, in a company that had already lost its leadership role in search, said Creative Strategies president and analyst Tim Bajarin, who has known Yahoo since its early days. Mayer, 42, joined Google in 1999 as its 20th employee and led efforts for hit products, including its flagship search product and homepage. At Yahoo, where she became CEO in 2012, she went on a buying spree that included a $1 billion acquisition of blogging platform Tumblr to reach a younger audience. She also cut more than a thousand jobs. Buying your way out of a problem like this is rarely going to solve your trouble, analyst Rob Enderle of Enderle Group said of acquisitions racked up at Yahoo. Yahoos finances have been skewed by its stake in Chinas Alibaba. It bought a 40 percent stake in Alibaba in 2005 for $1 billion and its current holding is now worth many times that amount, dwarfing the value of its internet operations. It also has a multibillion-dollar stake in Yahoo Japan. These holdings will not be transferred to Verizon but remain in a separate entity named Altaba. A survey released last month by business insights specialty website Owler ranked Mayer as the second most disliked chief executive, behind the head of United Airlines.