Sunnyvale-based internet firm, Yahoo Inc., last year faced a number of problems/scandals; having multiple hacks into their systems, secretly scanned US Authorities emails, slashing 10% of its workforce, and also admitted 500 million user accounts had been stolen , making it one of the largest security breaches ever, and so forth.
June 10th, 2016, saw the company auctioning off about 3,000 patents and hired boutique investment bank Black Stone, to oversee the sale. The following month, New York-based broadband telecom company; Verizon Communications Inc. said it was buying Yahoo for $4.8 billion. However, following it’s scandal of 500 million yahoo accounts being stolen, Verizon demanded for $1 billion discount on the deal, or the deal was off. No further reports was had from the two companies.
