Ex-CEO of Yahoo, Marissa Mayer, has recalled the time when she led the company. Among other things, she regrets the purchase of Tumblr, which was valued at $1.3 billion.
Marissa Mayer, who once served as CEO of Yahoo, still remembers the time she spent leading the digital giant. She has disclosed some regretful feelings she continues to have from that period.
In 2013, Yahoo paid a stunning $1.1 billion to purchase the microblogging site Tumblr. Mayer was in charge of the company throughout this time. However, there is a rising view inside the corporation that they should have pursued the purchase of Netflix or Hulu instead. This opinion is shared by an increasing number of employees.
Mayer said her firm has just completed a significant acquisition by buying Tumblr. At the same time, the thought was put into action about the acquisition of Hulu or, oddly enough, Netflix as well. According to her, Hulu was valued at $1.3 billion at the time, but Netflix was estimated to be worth $4 billion at the time. According to Mayer, had they chosen one of those two alternatives instead, they would have made a better buy in hindsight.
In 2016, Yahoo revealed that the worth of the blogging platform had decreased by 230 million dollars. Tumblr was put up for sale by Yahoo in 2019, shortly after Verizon completed its acquisition of Yahoo, and the resulting sale price was much lower than the platform’s initial acquisition price.
Despite the fact that it did not acquire either streaming service, Yahoo made an effort via Yahoo Screen to join the sector of streaming video content. This platform created its own original material, such as Sin City Saints and Other Space, and it also brought back the comedy Community for a sixth season when NBC cancelled it.
Mayer reportedly has two further regrets from her time as CEO of Yahoo. The first is that she chose to select Henrique de Castro as the chief operational officer rather than Lisa Utzschneider. The second is that she did not successfully execute the tax-free Alibaba split in order to separate the company’s assets.
Mayer said that the stockholders of the corporation could have been able to save a total of $10 billion if they had taken that specific move. Another option would have been to evade payment of taxes, which would have resulted in the same amount of financial gain. According to Mayer, the second choice would have allowed Yahoo to continue operating as an independent corporation, which would have increased the company’s prospects of attaining higher levels of success.