Conor Brophy: After a round of disastrous acquisitions, dotcom veteran Yahoo is on the rocks

If a rescue is coming, it might look more like a salvage operation

24th July, 2016
Yahoo president and CEO Marissa Mayer

Yahoo’s 2013 acquisition of Tumblr has been an unfortunate example of nominative determinism. Tumblr’s value has indeed tumbled.

Yahoo paid $1.1 billion for the blogging platform in 2013. In February, it wrote off $230 million of that, and last week announced a further $482 million charge. Net result: Yahoo overpaid for Tumblr by a factor of five.

And it could be worse. Filings Yahoo made to the stock market earlier this year raise the prospect that...

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