Tagged With oath
In its 23 years of existence, Yahoo made some really boneheaded deals. But of all of them, the deal to become Mozilla's default search engine might have been the worst. In that deal, Mozilla retained the right to walk away and still collect hundreds of millions of dollars a year - if Yahoo was acquired by a new company. Both of those things have occurred recently and now Yahoo's new owner is suing Mozilla.
Mozilla's new Firefox Quantum browser launched on Wednesday, and there's a lot to like about it. One change you might notice right away is that it now defaults to the Google search engine instead of Yahoo. Mozilla is framing this as doing the right thing for its users, but in reality, it may just be taking advantage of a really bad deal that Yahoo signed.
Back in June, Verizon closed a $US4.5 billion ($5.9 billion) merger to swallow Yahoo, agglomerate its legacy AOL brands into the mix, and rename the big mess of memorable (and not so memorable) brands to Oath. The transition has not been terribly smooth for some employees, as evidenced by an exchange during an "Oath: All-In" full company meeting today.
Remember Yahoo Mail? That email service famous for undergoing the largest breach of user data ever -- and then outdoing itself a few months later with an even larger breach? Well, the company is now offering a paid version of its mail service in hopes that you'll shell out cash to use the most-pwned email service ever.
It's been a bumpy ride, but it's finally over. Today, Verizon announced the completion of its Yahoo acquisition at roughly $US4.5 billion ($6 billion), giving us all the gift of a fancy new subsidiary named Oath and officially ending former Yahoo CEO Marissa Mayer's tenure.
For what seems like the millionth time, Yahoo's miserable descent into nothingness has somehow gotten worse. Today, a group of previously imprisoned Chinese dissidents filed a lawsuit against the company for misappropriating more than $US17 million ($23 million) put in a trust fund meant to aid Chinese political prisoners.