Yahoo can’t find buyer for small business unit
The sale of Yahoo’s small business unit, which had been rumored for months, has apparently found no takers and now the Internet firm has pulled the offer from the table, news website DailyFinance reported.
Last September a source “familiar with the matter” told Reuters that Yahoo’s asking price of between $350 million to $500 million was “likely higher than what buyers were willing to pay.”
Yahoo’s small business division provides domains, email, Web hosting and other merchant services to customers.
The Reuters story listed private equity firm General Atlantic LLC as a potential buyer because it owns Network Solutions, which provides similar services to small businesses.
Brian Nelson, Yahoo’s director of communications, told DailyFinance via email: “We are focused on competing and winning in Yahoo Small Business. We will always look at parts of the business where divestitures, partnerships or outsourcing could generate incremental value and help us improve our focus.”
Yesterday Yahoo announced it had reached an agreement with Monster to sell job-listing site HotJobs for $225 million. According to Monster, HotJobs averaged 12.6 million unique visitors per month last year.