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Apollo’s Yahoo Playbook, 5 Years After the $5B Deal
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Apollo bought Yahoo and AOL from Verizon in 2021 for about $5B. 5 years later, Yahoo has returned Apollo’s capital in one of the fastest returning deals in the firm’s history. Jim Lanzone has been CEO of Yahoo since September 2021. Yahoo ranks among the top 5 internet companies in the US, reaching roughly 90% of the American online population and 700M users globally each month across Finance, Sports, Mail, News, and Search. Jim previously served as CEO of Tinder, CBS Interactive, where he launched CBS All Access (now Paramount+), and Ask Jeeves, and co-founded eTour. He sits on the board of Snap. We go inside the Apollo acquisition, a structure of roughly $4.25B in cash, $750M in preferred…