Internet services company founded in 1994. Marissa Mayer served as CEO from 2012-2017. Acquired by Verizon Communications for $4.48 billion in 2017. Once a dominant web portal and search engine, struggled to compete with Google and Facebook.
Yahoo disclosed two massive data breaches (2013 and 2014) affecting all 3 billion user accounts. Yahoo's board found that the 2014 breach 'was not properly investigated' and cited 'failures in communication, management, inquiry and internal reporting.' The breaches significantly reduced Yahoo's acquisition price by Verizon.
In May 2013, Yahoo acquired Tumblr for $1.1 billion, one of 49 acquisitions totaling $2.2 billion during this period. By 2016, Yahoo wrote down Tumblr's value by over $700 million, representing a significant failed investment and shareholder value destruction.
In April 2013, Yahoo improved its parental leave policy, extending maternity leave to 16 weeks for biological mothers, 8 weeks for fathers and adoptive/foster parents, with cash bonuses for new parents. This brought Yahoo in line with other Silicon Valley companies like Facebook and Google.
In February 2013, Yahoo issued an internal memo requiring all remote-working employees (roughly 200 of 12,000) to convert to in-office roles, stating 'Speed and quality are often sacrificed when we work from home.' The policy was widely criticized as a step backward for workplace flexibility.