7月，梅耶以48.3亿美元现金的价格，将雅虎的核心互联网资产出售给了威瑞（Verizon ）森，这一价格与更高的估算价格相去甚远。有人估算，雅虎的估值可达到80亿美元。雅虎374亿美元的市值中，多数来自其持有的中国在线商务公司阿里巴巴（Alibaba）15%的股份，以及日本雅虎（Yahoo Japan）35%的股份，这些股份并未包含在交易当中。目前尚无法确定，2017年初，雅虎与威瑞森的交易完成之后，这些资产将面临怎样的命运。
Perhaps the most high-profile name to vanish from this year’s Most Powerful Women list is that of Marissa Mayer. Mayer has been a staple of the Fortune list since 2008, first as a Google exec and then, starting in 2012, as president and CEO of Yahoo.
To say that Mayer, now 41, has had a tumultuous year is an understatement. Amid massive revenue and income losses in 2015—and a turnaround strategy that was becoming harder and harder to defend—activist investor Starboard Value launched a campaign against Mayer and Yahoo’s board late last year, pushing to scrap her future plans for Yahoo and disband the company.
The company’s 2015 fourth quarter numbers, reported in January, drove the proverbial nail into Yahoo’s coffin: The struggling company reported a staggering $4.4 billion in losses for the last three months of 2015.
To be fair, Mayer wasn’t handed a healthy company back in 2012 when she left her former employer,Google, for the top spot at Yahoo. As she told Fortune‘s Pattie Sellers after her new job was announced in July 2012, “there’s a lot of work to do.”
But Mayer’s plan for a Yahoo turnaround required capital—a lot of capital—which didn’t please Wall Street. Despite multiple rounds of layoffs, Yahoo added nearly 3,000 workers through acquisitions, though many of these entrepreneurs have since left the company. One of the priciest deals was the acquisition of Tumblr, the blogging site it bought for $1 billion in 2013—$482 million of which Yahoo was forced to write down earlier this year. Yahoo also bought shopping site Polyvore for more than $160 million, a deal many criticized for being overvalued.
And those aren’t the only costs that raised investors’ eyebrows. Yahoo paid $20 million for the rights to the National Football League’s first streaming-only game broadcast, which was deemed a disaster. The companyreportedly spent $7 million on a holiday party in December 2014, and $3 million to sponsor the Met Ball, an annual gathering of celebrities and fashion industry insiders. Mayer called some of these cost figures “blatant falsehoods,” but in Wall Street’s eyes, she was done.
In July, Mayer inked a deal to sell the company’s core internet assets to Verizon for $4.83 billion in cash, a far cry from some of the loftier estimates, which pegged Yahoo’s value at up to $8 billion. Most of Yahoo’s $37.4 billion market value comes from its 15% stake in Chinese online commerce company Alibaba and 35% stake in Yahoo Japan, neither of which are included in the deal. It’s unclear what will happen with these assets once the deal with Verizon closes in early 2017.
So what’s next for Mayer? She has said that she will remain with Yahoo through the end of the sale process, but whether or not she will then stay on at Verizon is an open question. She might choose to leave—perhaps to become a VC or start her own company—or Yahoo’s new owner may decide to send her packing. Either way, Mayer would walk away a very well compensated woman: Her golden parachute has been estimated at roughly $55 million. There are definitely worse ways to go.