Yahoo Inc. board has been set for a series of meetings this week to discuss the selling of the company's core internet business. According to Wall Street Journal, the company is now considering selling Yahoo internet services altogether or how to maximize its stake on the Chinese e-commerce company Alibaba.
According to CNET, after a series of meeting this week from Wednesday to Friday, the company will decide if it will push through selling its core business. In the meetings, the board will discuss its plan to spin off its stakes in the Chinese e-commerce giant Alibaba which is worth more than $30 billion. The other option is to sell its own business. Worse, Yahoo may decide to do both.
The board has given CEO Marissa Mayer several years to work on turning the company around. Since Mayer took over in 2012, she tried to remake the company to compete with the mobile era as consumers prefer to use smartphones and tablets over personal computers. Mayer, who is a former Google executive, has revamped each of the company's mobile properties including Yahoo Mail, Weather, Finance and Sports. Aside from this, she also hired well-known personalities like journalists Katie Couric and purchased rights to high-profile shows like the sitcom "Community" so Yahoo can be a premier media destination once more.
However, Mayer's efforts prove unsuccessful with Google's offers and services. Being one of the most visited websites before, now Yahoo has been beaten by Google in search and mail tool. The company has also been defeated in terms of media in the hands of Netflix and Amazon. Lastly, the remaining part of the market that Yahoo wants to obtain has been taken by Facebook and Snapchat.
Even if Yahoo has not kept up with the competition, it has managed to be one of the most visited websites with more than 210 million people visited Yahoo in October.
With speculations about selling off its business, more pressure is definitely put on Mayer. A Yahoo spokesperson declined to comment and no statement was issued as of this time.
