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And the real winner... In unrelated news, Yahoo also voted today to approve the final compensation for its executive team. Marissa Mayer, Yahoo’s outgoing CEO,

by smaili 9y ago

And the real winner... In unrelated news, Yahoo also voted today to approve the final compensation for its executive team. Marissa Mayer, Yahoo’s outgoing CEO, stands to make $186 million from the sale. During her five-year tenure as CEO, she made a number of dubious moves, like a $1.1-billion acquisition of Tumblr and paying a teenager $30 million for an app with no underlying technology or code.[1] [1] https://www.yahoo.com/tech/verizon-finalizes-yahoo-acquisition-instantly-starts-laying-people-183434808.html https://www.yahoo.com/tech/verizon-finalizes-yahoo-acquisiti...

austincheney 9y ago
I am curious to know of the product the teenager sold.
- mcbits 9y ago
  A news summarizer called Summly. https://finance.yahoo.com/news/yahoo-acquires-summly-app-150829007.html https://finance.yahoo.com/news/yahoo-acquires-summly-app-150...
- deleted 9y ago
  [deleted]
- charlesdm 9y ago
  She paid 30 mill for good PR.
- ben_jones 9y ago
  They wanted a piece of SRI international, the company that licensed Siri. "Though Summly's own Web site once said: "SRI International, with the help of the Summly team, built the summarization technology behind Summly," we are told that D'Aloisio "invented" the product's original technology." "And indeed, inside Yahoo, Summly is called "Yahoo's Siri." "Further, D'Aloisio deserves credit for outsourcing technology development and app development to the right firms, and coalescing their work into a product that made him millions." He's either really smart to set up the right branding and licensing deals, really lucky to have made the perfect business relationship for a future acquisition, or was set up by someone in the know for a fat payday. My guess is all three. Lucky kid. [1]: http://www.businessinsider.com/why-marissa-mayer-bought-a-30m-startup-2013-4 http://www.businessinsider.com/why-marissa-mayer-bought-a-30...
  - geccan 9y ago
    It's most likely the last one. He was the "good PR piece" part of the deal.
yawz 9y ago
Truly amazing! You couldn't make this stuff up.
mental_ 9y ago
I wish I could fail like that.

by smaili 9y ago

austincheney 9y ago

I am curious to know of the product the teenager sold.

mcbits 9y ago
A news summarizer called Summly. https://finance.yahoo.com/news/yahoo-acquires-summly-app-150829007.html https://finance.yahoo.com/news/yahoo-acquires-summly-app-150...
deleted 9y ago
[deleted]
charlesdm 9y ago
She paid 30 mill for good PR.
ben_jones 9y ago
They wanted a piece of SRI international, the company that licensed Siri. "Though Summly's own Web site once said: "SRI International, with the help of the Summly team, built the summarization technology behind Summly," we are told that D'Aloisio "invented" the product's original technology." "And indeed, inside Yahoo, Summly is called "Yahoo's Siri." "Further, D'Aloisio deserves credit for outsourcing technology development and app development to the right firms, and coalescing their work into a product that made him millions." He's either really smart to set up the right branding and licensing deals, really lucky to have made the perfect business relationship for a future acquisition, or was set up by someone in the know for a fat payday. My guess is all three. Lucky kid. [1]: http://www.businessinsider.com/why-marissa-mayer-bought-a-30m-startup-2013-4 http://www.businessinsider.com/why-marissa-mayer-bought-a-30...
- geccan 9y ago
  It's most likely the last one. He was the "good PR piece" part of the deal.

yawz 9y ago

Truly amazing! You couldn't make this stuff up.

mental_ 9y ago

I wish I could fail like that.