by Hishan Welmilla in San Francisco
The bidding process for Yahoo web assets has shaken out as many of the top predicted bidders pulled out before the deadline of April 18.
It was reported earlier that Verizon, Alibaba, Time inc, Microsoft, Alphabet (parent company of Google), AT & T, Comcast, IAC/Interactive will bid for Yahoo.
Verizon Communications, a giant in communication sector in USA which valued more than 200 billion US Dollars left as on of the front runners and financial pundits believe the reason behind for lack of interest is Yahoo’s apparent reluctance to share Key financial data beyond this year. They have only offered business projections for 2016.
Yahoo is valued at roughly $34.6 billion, and its core business could fetch between $4 and $8 billion in an auction but Yahoo has placed 10 billion US dollars as a start up price for the bidders.
Buyers have been reportedly asked to specify which assets they would be interested in acquiring and at what price, including Yahoo’s core web business, and its stakes in Alibaba and Yahoo Japan.
Although Yahoo has maintained a large audience upwards of one billion online, the experts predict Yahoo world wide advertising revenue will plunge 14% this year to 2.38 billion USs dollars. It has continued to loose market share to Google and Facebook.
Marissa Mayer, CEO Yahoo is increasingly under fire since 2012 due to the bad performance of the company.
Yahoo extended the bid dead line from April 15 to 18 leaving bidders more time to consider their options.