I’m one of those Unlucky people who had a happy childhood”, This quote reminds of Yahoo!
Yahoo’s evolution, the first giant of the Internet age, an influential web portal juggernaut to search engine pioneer, and slowly this dominant media lost its way.
So is the deal of $4.83 billion with Verizon on shaky grounds after Yahoo reported of that hack . Well, Yahoo says they had no idea about the hack at the time of signing the deal with Verizon in July, 2016. Verizon came to know about the breach only after it was made public, Verizon spokesman said ‘the company had limited information and was not sure of its ramifications’. Contrary to this Verizon had earlier stated that they only found out two days before Yahoo making it public. So Verizon is at a stage where they can still assess, the impact and how much work they have to do and so on.
Anyway, here is what the Verizon’s has to say “Yahoo’s September announcement of a data breach of more than 500 million e-mail accounts constitutes a potential material impact that would allow for the mobile powerhouse to pull out of the $4.83 billion deal. That arrangement, which was announced in July 2016, has yet to formally close”.
“I think we have a reasonable basis to believe right now that the impact is material and we’re looking to Yahoo to demonstrate to us the full impact,” Craig Silliman said, according to Reuters. “If they believe that it’s not then they’ll need to show us that.”
Verizon declined to comment further.
This is an expected scenario, now we have to wait and see if Verizon ask for a discount before they pull out of the deal. Well! nobody wants to buy a company with problems attached.
When Verizon planned to acquire Yahoo so many people were asking “why would Verizon pay this price tag for a company that is suffering. The real deal is Verizon is getting the brand value. Yahoo is still one of the most visited digital properties in the world. Verizon gets some of the core businesses like; Yahoo mail, Yahoo News, and Tumblr blog which is very popular among millennia.
At vafion we deal with API Integration and have always emphasized on security. Any of the world largest websites is under large-scale continuous attack? If you are running a large website that has the capabilities for anyone to come in and log in, then you should know cyber-criminals are using sophisticated and automated software to constantly test username and passwords. This is not an activity that users can necessarily see on regular basis, but the company themselves do see it. So did Yahoo, fail to notify its user to change the password from time to time. I am not sure, but this negligence is likely to cost Yahoo. Looks like luck playing hide and seek with the one time Internet giant.
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