On September 1st, Apollo Global Management announced that they have completed the acquisition of Yahoo – formerly Verizon Media – one of the world’s premier global technology and media companies. With the close of the transaction, Yahoo will now operate as a standalone company under Apollo Funds, while Verizon has retained a 10% stake in Yahoo.
This is a new era for Yahoo. The close of the deal heralds an exciting time of renewed opportunity for us as a standalone entity. We anticipate that the coming months and years will bring fresh growth and innovation for Yahoo as a business and a brand, and we look forward to creating that future with our new partners.Guru Gowrappan (CEO, Yahoo)
For nearly 30 years, Yahoo has been the world’s premier global technology and media company, with nearly 900 million monthly active users worldwide, making it the third-largest property on the internet. Comprised of iconic consumer news brands and products, plus leading advertising and media platform businesses, Apollo’s investment will enable new growth for Yahoo, benefiting consumers, advertisers, publishing partners, and employees.