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Tech History Broken As Yahoo Sells To Verizon For $5 Billion




Tech History Broken As Yahoo Sells To Verizon For $5 Billion

Yahoo was once considered to be a king of sorts when it came to the internet.

It was seen as a behemoth worth $125 billion and comparable to the greatness that Google and Facebook are engaging in today.

However, it is now being sold to Verizon for mere change.

As shown below, the speculation that preceding the deal led to an increase in value for the shares around Yahoo:

Yahoo! Shares | Tech History Broken As Yahoo Sells To Verizon For $5 Billion

Yahoo made an announcement on Monday Morning regarding their future.

There had been a long and tedious process, but it had finally concluded with the decision to sell Yahoo’s core operating business to Verizon for just under $5 billion in cash.

Though it came after Yahoo had created a mess of their doing and were attempting to extricate from it, this transaction, unfortunately, marks the end of the independence of one of the most iconic pioneering companies in Silicon Valley.

Marissa Mayer, the seventh, as well as final, CEO of Yahoo, is reported to depart following the conclusion of the deal.

She will receive a severance pay worth upwards of $50 million.

The sale with Verizon will cause Yahoo to unite with another fallen internet king.

Last year, Verizon bought AOL for $4.4 billion, making it their first web portal purchase.

The largest wireless provider in the United States is betting almost $10 billion that the combination of these two formerly dominating websites will raise it above expectations in both mobile content and advertising technology that can be used to gain leverage with over 140 million subscribers.

Marissa Mayer  announced the news through an email and said that the deal would not only lead to a significant step towards creating a separation between the operating business of Yahoo and Asian asset equity stakes, but it would also create exciting and new opportunities that would speed up Yahoo’s transformation.

She also mentioned that though many separate entities expressed an interest in Yahoo, Verizon was the company to show the most belief in the value that everyone at Yahoo created.

Verizon also revealed that they believed in the power a combination could offer their advertisers, partners, and users.

To focus on Yahoo offers the bigger story today when you think about how it completely squandered its enormous head start by allowing every new wave of technology sweep past it, whether it be in search, mobile, or social.

Compared to what it was ten years ago, Yahoo seems to have remained the same company for the most part as a portal used by hundreds of millions of people all around the world.

Their users rely on Yahoo for a majority of tasks, including basics like news and weather, as well as critical functions that include email or searching.

When the word became indulged in the universe of smartphones and mobile apps, the advantage that Yahoo had held over the desktop battleground started to fade away.

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To give a history, Yahoo commenced in 1994 under the name Jerry’s Guide to the World Wide Web, which was essentially a compilation of websites curated by two students of Stanford University, Jerry Yang and David Filo.

This list grew at a fast pace due to the millions of Americans that began to turn on dial-up Internet connections.

When people set up these internet connections, they desired a homepage that could direct them to all of the destinations that they deemed essential and visited frequently.

The website went public in 1996 and gained popularity until it rose to astounding heights, eventually reaching their peak of $500 per share in January of 2000.

A share during today’s post-split calculations would equal around $125.

This is major because internet usage shot up during the following years, as shown in the graph below.

Internet users in the world | Tech History Broken As Yahoo Sells To Verizon For $5 Billion

However, Yahoo missed a crucial opportunity by not choosing to convert the website into something greater than just a portal.

With their early lead and millions of users, it could have been something huge.

At the peak of the bubble, Yahoo spent $5.7 billion on buying, as well as $4.5 billion to buy Geocities.

It was reported that they later destroyed their chance to buy early versions of Facebook and Google, websites that are now thriving in the technological world.

Yahoo’s particular search offering holds a mere fraction of the market currently, though they tried to make up for missing out on buying Facebook by purchasing another social network, Tumblr.

This eventual purchase did not help them.

You can see Tumblr valued by Yahoo here.

During the last four years, Mayer, who is a former executive for Google, attempted to take control of Yahoo and put them back on the playing field.

Sadly, her tenure was unsuccessful due to confused strategy and unfortunate mismanagement.

When the iPhone came out, revenue peaked the year after in 2008, but traffic has maintained a steady decline as users continually find that their attention is drawn to newer and more relevant apps and websites.

When Jerry Yang made the risk of betting $1 billion on Alibaba in 2005, it managed to keep Yahoo afloat and successful enough to stay alive.

That move bought 40% in what would eventually turn into China’s e-commerce leader.

Over time, Yahoo made the decision to sell parts of the holding, but its current stakes remains at a worth of over $30 billion at prices today.

This investment ended up being so abundantly successful that it became worth much more than the flagging core business of Yahoo.

In 2015, management at Yahoo mapped out a tax-free spin-off for its stake in Alibaba, a plan that would unlock shareholder value.

However, they canceled the move at the last minute due to the IRS refusing to offer its blessing for the action.

Yahoo has since been evaluating other strategic means and alternatives with a long auction process lasting months that would benefit its core business.

This process has earned headlines, as well as constant speculation and questions.

The sale will not contain Yahoo Japan or the company’s stakes and holdings in Alibaba.

While many experts have been certain for a long time that Verizon in the frontrunner, others put in bids.

Dan Gilbert and Warren Buffett, both billionaires, pledged their support to one offer while the parent company of Yellow Pages, as well as a private equity firm called TPG followed suit.

In the final accounting, however, Verizon reigned victorious in snagging Yahoo’s technology and web properties for a relatively low price, 22 years following inception.

Some say that the end of Yahoo is an ironic one.

While the consumer web opened and allowed the portal to be a sort of online superpower, Yahoo is now destined to be consumed by a company that allows a higher number of users to access the Internet daily from anywhere in the world.

These figures are greater than the founders of Yahoo could have ever anticipated or dreamed about when the website first launched.


Yahoo started out as a simple web portal.

It has since become a great internet powerhouse used for searching, gaming, and weather and news updates.

Some say the fall of Yahoo is due to poor buying choices by the company, including passing up young versions of Facebook and Google.

Yahoo’s shares were plummeting since the beginning of 2015, as the graph below indicated.

However, these numbers were growing after there was speculation that Verizon would purchase Yahoo to combine with AOL, a fact that was announced in the last week.

Yahoo! NASDAQ | Tech History Broken As Yahoo Sells To Verizon For $5 Billion

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Las Vegas Sands Once Again Recognized as World Leader for Climate Change




Las Vegas Sands Once Again Recognized as World Leader for Climate Change
Image via Shutterstock

Las Vegas Sands has again been recognized by CDP, the international nonprofit environmental disclosure platform, on the Climate Change A List. This is the company’s fifth year in a row to attain a leadership position for Climate Change, a distinction shared by only 2% of disclosing companies.

“The CDP provides a comprehensive framework that continues to inspire us to become leaders in our industry and provide guidance for strategic direction,” Katarina Tesarova, senior vice president of global sustainability at Las Vegas Sands, said. “Among the thousands of companies that were scored this year, Sands is one of a very small number from around the world to make the A List. We’re proud to be recognized, and we will continue to work towards additional reduction of our environmental impact.”

Through Sands ECO360, the company’s award-winning global sustainability program, Sands has reached several environmental milestones, all contributing to its placement on the Climate A List. The iconic ArtScience Museum at Marina Bay Sands in Singapore is the first Asia-Pacific region museum to achieve LEED (Leadership in Energy and Environmental Design) certification, and The Parisian Macao achieved LEED Silver certification for newly constructed buildings – the first building in Macao to receive this distinction. Additionally, the implementation of 38 energy-efficient ECOTracker projects are expected save more than 48 million kilowatt hours of electricity every year, through LED lighting upgrades, energy savings campaigns focused on consuming less electricity and more.

Sands has participated in the CDP environmental disclosure platform since 2012, starting first with reporting on climate change initiatives. Achievement of the Climate Change A List highlights the company’s work towards cutting emissions, mitigating climate risks and building integrated resorts responsibly.

The company has also retained its leadership in corporate sustainability with its most recent recognitions on the Dow Jones Sustainability Indices (DJSI) and America’s Best Employers by Forbes.

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Dow Jones Industrial Average Breaks 29,000 For The First Time in History

Editorial Staff



Screenshot of Dow Jones Industrial chart taken January 15, 2020.

Slight gains send Dow Jones Industrial Average above 29,000!

The Dow Jones Industrial Average closed above 29,000 points for the first time and the S&P 500 index hit its second record high in three days Wednesday.

The milestones came on a day when the market traded in a narrow range as investors weighed the latest batch of corporate earnings reports and the widely anticipated signing of an initial trade deal between the U.S. and China.

President Donald Trump and China’s chief negotiator, Liu He, signed the “Phase 1″ deal before a group of corporate executives and reporters at the White House. The pact eases some sanctions on China. In return, Beijing has agreed to step up its purchases of U.S. farm products and other goods.

“This was telegraphed well enough that the market is kind of looking through it and toward the next phase and what that means,” said Keith Buchanan, portfolio manager at Globalt Investments.

Health care stocks accounted for much of the market’s gains. Utilities and makers of household goods also rose. Those gains outweighed losses in financial stocks, companies that rely on consumer spending and the energy sector.

The S&P 500 index rose 6.14 points, or 0.2%, to 3,289.29. The index also climbed to an all-time high on Monday.

The Dow gained 90.55 points, or 0.3%, to 29,030.22. The Nasdaq composite added 7.37 points, or 0.1%, to 9,258.70.

Smaller-company stocks fared better than the rest of the market. The Russell 2000 picked up 6.66 points, or 0-4%, to 1,682.40.

The benchmark S&P 500 index is on track for its second straight weekly gain.

Bond prices rose. The yield on the 10-year Treasury note fell to 1.78% from 1.81% late Tuesday.

While limited in its scope, investors have welcomed the U.S.-China deal in hopes that it will prevent further escalation in the 18-month long trade conflict that has slowed global growth, hurt American manufacturers and weighed on the Chinese economy. The world’s two largest economies will now have to deal with more contentious trade issues as they move ahead with negotiations. And punitive tariffs will remain on about $360 billion in Chinese goods as talks continue.

With the “Phase 1” agreement now a done deal, investors have more reason to focus on the rollout of corporate earnings reports over the next few weeks. Earnings have been flat to down for the last three quarters, and if the fourth quarter meets expectations, it should be around the same.

However, analysts are projecting 2020 corporate earnings growth to jump around 9.5%, which is why traders will be listening this earnings reporting season for any clues management teams give about their business prospects in coming months.

“We’re expecting a reacceleration in the back end of the year, so any (company) guidance that brings any type of skepticism to that could threaten the recent rally we’ve had and the gains that we’ve accrued in the past few months,” Buchanan said.

Health care stocks powered much of the market’s gains Wednesday. Several health insurers climbed as investors cheered a solid fourth-quarter earnings report from UnitedHealth Group.

The nation’s largest health insurer, which covers more than 49 million people, said its revenue rose 4% on a mix of insurance premiums and growth from urgent care and surgery centers. Its stock rose 2.8%. Other health insurers also moved higher. Anthem gained 1.6%, Cigna added 1.5% and Humana climbed 1.9%.

Technology companies also rose. The sector is reliant on China for sales and supply chains and benefits from better trade relations. Microsoft gained 0.7% and Advanced Micro Devices gained 0.8%.

Utilities and consumer staples sector stocks also notched gains. Edison International climbed 2.5% and PepsiCo rose 1.7%.

Financial stocks fell the most. Bank of America slid 1.8% after reporting weaker profits due to the rapid decline of interest rates in late 2019.

Energy stocks also fell along with the price of crude oil. Valero Energy dropped 3.3%.

Homebuilders marched broadly higher on news that U.S. home loan applications surged 30.2% last week from a week earlier. The pickup in mortgage applications reflects heightened demand for homes and suggests many buyers are eager to purchase a home now, rather than waiting for the traditional late-February start of the spring homebuying season. Hovnanian Enterprises jumped 6.4%.

Target slumped 6.6% after a disappointing holiday shopping season prompted the retailer to cut its forecast for a key sales measure in the fourth quarter. The company said weak sales of electronics, toys and home goods crimped sales growth to just 1.4% in November and December.

Benchmark crude oil fell 42 cents to settle at $57.81 a barrel. Brent crude oil, the international standard, dropped 49 cents to close at $64 a barrel.

Wholesale gasoline fell 1 cent to $1.64 per gallon. Heating oil declined 3 cents to $1.88 per gallon. Natural gas fell 7 cents to $2.12 per 1,000 cubic feet.

Gold rose $9.70 to $1,552.10 per ounce, silver rose 25 cents to $17.92 per ounce and copper fell 1 cent to $2.87 per pound.

The dollar fell to 109.91 Japanese yen from 110.00 yen on Tuesday. The euro strengthened to $1.1150 from $1.1128.

Markets in Europe closed mostly lower.

AP Business Writer Damian J. Troise contributed.

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Uber and Hyundai Are Planning to Offer Flying Taxi Rides by 2023

Editorial Staff



Hyundai/Uber Flying Taxi Source: Hyundai
By Cat Ellis

At CES 2020, Uber and Hyundai showed off a full-size mock-up of a flying taxi that both companies hope will be ferrying you above congested city streets by 2023.

The electric plane, called Uberdai, will carry a pilot and three passengers up to 60 miles, at speeds of up to 180mph, slashing journey times and helping get cars off the road. Eventually the craft will be automated, but for now the two companies are focusing on manned craft.

The flying taxi market is starting to get pretty lively. Last year, Boeing began test flights to test the safety of Boeing. Next, an electric aircraft with passenger pods designed to travel up to 50 miles, and Bell Helicopter unveiled the Bell Nexus, which the company hopes will “redefine air travel”.

The difference with Hyundai’s plane is its partnership with Uber, which is a name synonymous with ride-sharing throughout much of the world, and already has the infrastructure in place to offer flights as an option alongside trips by car, bike, scooter, helicopter and even submarine.

Ready for lift-off?

Uber has been aiming for the skies for several years now, teaming up with various aerospace companies to build a fleet of mini aircraft. At the Uber Elevate Summit in June 2019, it revealed a concept created in collaboration with Jaunt Air Mobility – a business that’s aiming to create a fully autonomous aircraft by the end of 2029.

This design was a cross between a helicopter and a plane, with a rotor to get it off the ground, and wings for gliding once airborne to conserve power.

“It’s called the compound aircraft, and what it’s doing is really trying to get the best of both worlds of hover and high-speed efficient flight,” Uber’s head of engineering Mark Moore said at the event.

Uber intends to launch its first swarm of flying cars in the US and Australia in 2023, with schemes planned for Dallas, Las Vegas and Melbourne. We’ll keep you updated as we learn more over the coming months. 

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