Yahoo’s valuation slashed by $350 million following high-profile hacks

Feb21

by Sindy Cator on February 21, 2017 at 4:07 pm

Last year, news broke that US telecommunications giant Verizon had its eyes on Yahoo, and planned on snapping it up in a deal valued at $4.8 billion. Everything was going well. And then it wasn’t, as hackers broke into Yahoo’s systems. Not just once, but twice. The first attack allowed hackers to illegally access the records of hundreds of millions of users. The second compromised over one billion acounts, making it easily one of the most significant hacking episodes ever. These episodes took much of the shine from Yahoo’s valuation, and there were reports that Verizon wanted a discount of…