Yahoo! CEO Marissa Mayer made a promise not to screw up the Tumblr acquisition, but now she’s about a quarter billion dollars south of keeping it.
In 2013, a year after Marissa Mayer took the helm, Yahoo! acquired Tumblr for just over $1 billion. Now, not only has Tumblr failed to reach its projected $100 million in revenue for 2015 — which Mayer purports was due to “a slower ramp in monetization than initially expected” — Yahoo has slashed Tumblr’s valuation by $230 million, roughly a quarter of its $990 million valuation. According to The International Business Times, that $100 million that Tumblr failed to earn “would have barely moved the needle on Yahoo!’s $5 billion ad business” even if it had been met.
Breitbart Tech recently covered Marissa Mayer’s taunting of Yahoo! employees concerned about massive layoffs. Now that the company has begun to slash every possible expense, including 1,700 employees, Mayer continues to bank a $1 million yearly salary, among other millions in bonuses. Add in a lawsuit alleging sexual discrimination, along with investors demanding Yahoo’s board send Mayer packing and sell the company, and the fruits of her labors look rotten indeed.
Mayer’s professional reputation has taken quite a hit, and she has a lot to answer for. She’s just lucky Breitbart’s Milo Yiannopoulos isn’t doing her performance review.
Follow Nate Church @Get2Church on Twitter for the latest news in gaming and technology, and snarky opinions on both.
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