Yahoo is up for sale and industry experts believe Verizon is the most likely buyer after it purchased AOL last year. However, a fake Craigslist listing on the classified ads website's San Francisco page was recently posted that shows the fall of the pioneering Internet company as tech giants such as Google and Facebook have become the next juggernauts. Yahoo CEO Marissa Mayer is the company's eighth chief executive since 2001, and has been unable to get the company back on track.
Yahoo is in the process of making a big decision about its options. The main choices are to put the company on the market, break it up into smaller pieces, or take no action as revenue drops, according to Quartz.
It is unclear if Mayer published the listing since the ad's contact is "Marissa." However, it showed up one day after the CEO added four board members suggested by hedge fund Starboard Value.
The joker who posted the fake Craigslist ad wrote that Yahoo's price tag is $8 billion or best offer (B/O). However, Yahoo's current market value is closer to $35 billion including Chinese web giant Alibaba, and Yahoo Japan.
Craigslist's fake ad describes Yahoo as a unique Internet company that is available to the general public for a limited time, according to CNN. It states that the company is in good-to-fair condition but could be fixed by the right buyer.
The online ad also states that the original owners are unable to maintain the company. It was listed in the antiques section of the Craigslist page.
The listing also includes other company details about Yahoo. They include about 1 billion users, web e-mail system, Flickr and Tumblr, unlimited collection of Kim Kardashian photos, good cafeteria, and journalist Katie Couric.
Yahoo's condition was described as "salvage" and the size as "ginormous."
The company announced its Q1 earnings on April 19 that were a little higher than analysts' estimates. Mayer stated that the company had a solid start but she was taking steps to sell the company to put shareholders first.
Yahoo's Q1 revenue was $1.09 billion. That figure was a year-over-year drop of $140 million.
These companies could buy Yahoo: