Saturday, June 23, 2007

Happens only at Yahoo

Yahoo recently bought sports content website for $100 million.
Interestingly way back in 2001, Yahoo had offered to buy the then-loss making Rivals for $25 million. The company was on its last legs. The deal fell through as Yahoo insisted on "a incredibly complex structure" in order to keep the losses low on books. VCs liquidated their holdings. The founder bought out all the assets and rejuvenated the company with a "non-bubble cost and mentality". Six years hence, the site was sold for $100 million to Yahoo itself.
Happens only at Yahoo...?

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