Verizon acquired Yahoo’s operating business in 2017 for approximately $4.48 billion.
Yahoo began in 1994 as a web directory created by Stanford students Jerry Yang and David Filo. It expanded into search, email, news, finance, sports, and advertising, becoming one of the early giants of the commercial internet.
Verizon announced the purchase in 2016 and completed it in June 2017 after Yahoo disclosed additional security breaches. The final price was reduced from the original agreement because of the breach disclosures. Verizon combined Yahoo with AOL, which it had acquired in 2015, under a new business known as Oath.
The deal did not include every Yahoo asset. Yahoo’s stake in Alibaba and Yahoo Japan were excluded, and the remaining investment business later became part of Altaba.