As the social media sphere and Facebook's influence continues to grow, the internet has taken a permanent place in the lives of the ordinary consumer. From social media posts to twitter interactions, an increasing number of users switch to internet as a social outlet. Now, with the bidding of Yahoo entering full swing, this change should become even the more permanent.
Warren Buffet Enters Yahoo Bid As Second Round Of Talks Starts
As Yahoo looks determined to sell of its internet assets, we can safely conclude that the internet of the 90s is dead, with content integrated social media gaining a solid foothold in its place. The talks for the Sunnyvale based service provider have been undergoing for quite a while, with several big players the likes of Verizon showing interest.
Yahoo's been struggling for quite a while to keep up in terms of revenues and traffic generated, despite the fact that it operates on quite a lot of levels. But a clear failure to adapt with existing trends despite serious efforts for quite a while have made it very difficult for the company to survive. That has initiated a bidding process for the company, which until very recently had been expected to go in favor of Verizon, particularly after the group recently acquired another internet company of the 90s, AOL.
However, on the other side of the process we've got Quicken Loan founder Dan Gilbert, whose efforts will now allegedly be funded by Warren Buffet too. Buffet's been showing interest in Yahoo for quite a while and has had regular influence on the company's board as well, so today's news might just mean some bad news for Verizon. According to some anonymous sources this Friday, not only will Buffet be backing bids for Yahoo, but the company's already shortlist 10 bidders as well.
Apart from Gilbert, Buffet and Verizon, other suitors for Yahoo also include private equity firms which include Visa Equity, KKR and more, so things should start to get interesting in the future. Neither Buffet or Gillbert have commented on the matter yet, so its all very preliminary as of now. We'll keep you updated as this develops. Till then, stay tuned and let us know what you think in the comments section below.