Memo reveals Yahoo is talking to potential buyers (report)

Summary:A leaked memorandum from Yahoo executives reveal that things at the company might be more unstable than we realize.

Yahoo has been on a bit of a whirlwind lately. First, Carol Bartz was fired from her job as CEO. Now, the company might be up for sale entirely.

The Business Insider has published a leaked company-wide memo penned by co-founder and former CEO Jerry Yang, informing Yahoo employees that the search engine is fielding inquiries with the help of investment bank Allen & Company.

A full copy of the memo is available to read on The Business Insider, but here's an excerpt:

Our advisers are working with us to develop ideas that we will pursue proactively.  At the same time, they are fielding inquiries from multiple parties that have already expressed interest in a number of potential options. We will take the time we need to select and structure the best approach for the company, its shareholders and employees.

In addition, as we announced previously, the Board has commenced a search for a permanent Chief Executive Officer. That process also continues.

Although the intension of the letter is to reassure Yahoo employees, it does little in that effect -- granted the letter is authentic in the first place. Yet, it's no secret that Yahoo has been suffering as of late. Thus, it is only natural that Yahoo is looking for a buyer when the company goes through leaders so quickly and quarterly earnings are tumultuous.

Yahoo has had its own share of drama when it comes to potential mergers in the past, most notably with Microsoft. But now that it is public knowledge that Yahoo is eagerly looking for a buyer, it might not find the ideal buyer anymore but rather just settle for the best option available.

Topics: Social Enterprise


Rachel King is a staff writer for CBS Interactive based in San Francisco, covering business and enterprise technology for ZDNet, CNET and SmartPlanet. She has previously worked for The Business Insider,, CNN's San Francisco bureau and the U.S. Department of State. Rachel has also written for, Irish Americ... Full Bio

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