Yahoo chief Marissa Mayer famously promised “not to screw up” Tumblr following its £1bn purchase in 2013, but two years later a loss of $500m in its brand value suggests she’s done just that.
The beleaguered online business acknowledged its social network is now worth around a third of the $1.1bn that it originally paid for. Some $482m has been knocked off the site’s value in its latest quarter, off the back of the $230m it wrote off in the previous quarter.
Much of the downgrade stems from Yahoo’s failure to meet an ambitious $100m sales goal for Tumblr this Read full story ›
Source: The Drum
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