Yahoo has been relaunched under its original name after yet another acquisition.
The famous internet brand has been bought, along with AOL, by private equity firm Apollo Global Management for an estimated $5 billion.
It will now operate as Yahoo, a stand-alone company under Apollo Funds, with Guru Gowrappan taking up the role of CEO.
“This is a new era for Yahoo,” said Gowrappan in the accompanying Apollo press release. “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.”
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Prior to the acquisition, Yahoo was owned by US telecoms giant Verizon, and operated alongside AOL under the Verizon Media banner.
At its peak in 2000, right at the apex of the internet boom years, Yahoo was valued at some $125 billion. In 2002, Yahoo even had the opportunity to buy Google, but Yahoo’s then-CEO Terry Semel balked at the $5 billion price being quoted to him.
Still, with nearly 900 million monthly active users worldwide, Yahoo remains the third-largest property on the internet. It’ll be interesting to see what its new custodian can make of this storied dot-com brand.