How much is Marissa Mayer worth
Yahoo: How Marissa Mayer failed
Little is left of the former glamor in the Yahoo headquarters: After years of renovation failed and the group had to announce a billion-dollar loss on Tuesday, the ailing online pioneer is putting its core business to the test and cutting 15 percent of the jobs. The US company announced when it presented its quarterly figures that it was ready to consider “strategic alternatives” for its Internet business.
In addition, offices in five locations are to be closed, the product range downsized, real estate and patents sold, and the focus on searches via mobile phones and similar devices. For the fourth quarter, Yahoo announced a turnover of one billion dollars after 1.18 billion dollars in the same period last year. The loss was $ 4.43 billion, the lion's share of which was due to a write-off. Without special items, earnings per share were 13 cents and thus in line with expert estimates.
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Yahoo is currently finding no means to assert itself on the Internet against Google and Facebook. The examination of Internet activities is the clearest indication so far of a willingness on the part of CEO Marissa Mayer to split off the traditional business with websites, e-mail and online search. Mayer himself had described the sale of these company parts in December as an alternative. The mobile operator Verizon is being discussed as a prospect.
Yahoo shares have lost a third of their value
The investors were initially not impressed by Mayer's plans: The share fell 1.2 percent in after-hours trading. The papers have lost more than a third of their value in the past twelve months. The shareholder SpringOwl Asset Management stated in an initial statement that the new strategy does not adequately address the actual problems at Yahoo, including unfavorable strategic partnerships, excessive expenditure and an excessive workforce. Other shareholders have also criticized Mayer's strategy.
It is a bitter defeat for the 40-year-old CEO. Although not financially, the multimillionaire raked in at least $ 100 million at Yahoo. But it is a loss of image that cannot be repaired in Silicon Valley, even with a lot of money. Mayer failed.
In July 2012, the smart blonde, who as Google employee number 20 had significantly built up its lucrative search engine business, was brought in as a great bearer of hope. Mainly from the influential hedge fund manager Daniel Loeb, who had previously killed her predecessor Scott Thompson. Loeb had made public that the former top PayPal manager had a computer science degree, even though he only had one in accounting. Thompson's reputation was ruined.
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The first female engineer from Google was supposed to bring Yahoo back on a growth path thanks to her image and insight into the needs of the online advertising industry and make it attractive to talented people. Yahoo, the world's first Internet media company, had been systematically run down by internal wing battles, constant reorganization, budget cuts and layoffs.
Competitors such as Google and Facebook were constantly taking market share and capable employees from the former market leader in online banner advertising. The managers of Yahoo's principalities blocked each other, internal innovation was torpedoed. Yahoo's reputation was so bad that the founders of the review portal Yelp were vehemently opposed to a takeover. On the grounds that they couldn't expect themselves or their employees to work for a company like Yahoo.
Loeb's plan initially seemed to work: Mayer's glamor and credibility stabilized her new employer. The young boss, known in Silicon Valley as a workaholic with a weakness for details and numbers, threw herself into her new job despite her pregnancy. She only took two weeks off to give birth to her son Macallister.
The shareholders were satisfied, the share rose again. But that was not because of Mayer, but because of a happy decision by Yahoo founder Jerry Yang. In 2005 he had allied himself with the aspiring Internet entrepreneur Jack Ma for business in China and had a billion dollars jump for a joint venture. While Yahoo stumbled in its motherland, Ma built Alibaba, the leading online retailer in China. Yahoo's 40 percent stake in Alibaba and its good business in Japan suddenly made up the lion's share of Yahoo's stock market value.
Mayer benefited from this because a few months after taking office, a partial sale of Alibaba shares prepared by her predecessor brought 7.6 billion dollars into the coffers of the group. Most of them were passed on to investors - such as Loeb. But Mayer's realignment dropped $ 650 million, in addition to the existing $ 1.5 billion in the company's coffers.
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