The life of ups and downs of Marissa Mayer, from Yahoo's hope to Verizon's acquisition of Yahoo for $ 4.48 billion
Join us to learn about the rise and fall of Marissa Mayer, from Yahoo's hope to Verizon's acquisition of Yahoo for $ 4.48 billion in the following article!
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Join us to learn about the rise and fall of Marissa Mayer, from Yahoo's hope to Verizon's acquisition of Yahoo for $ 4.48 billion in the following article!
Marissa Mayer is the powerful woman of Silicon Valley. " Light of hope " is what comes to mind when Marissa Mayer - the " beautiful woman", the talented female leader and one of Google's first employees - comes to take over as Yahoo CEO.
Marissa Mayer has experienced many ups and downs in life to become as strong as today. People have put a lot of hope when Marissa Mayer was chosen as CEO of Yahoo in 2012. People think she will change the Internet " disabled hero ".
Five years later, Marissa Mayer's quiet time at Yahoo was affected by slow growth and growing internal disagreement within the company, resulting in a reduced work ethic and under pressure to call her to resign. Besides, under the management of Marissa Mayer, Yahoo has been involved in security breaches that put millions of customers at risk . At its peak in September 2016, Yahoo announced shocking information when more than 500 million user accounts were stolen by hackers.
Currently, Marissa Mayer's period ended because Verizon bought Yahoo for $ 4.48 billion . As soon as the agreement went into effect, Marissa Mayer officially resigned as Yahoo's CEO position. Marissa Mayer will not participate in the merger of Yahoo and AOL with the new name " Oath ".
Nicholas Carlson's book " Marissa Mayer and the Fight to Save " (translated as " Marissa Mayer and the Yahoo! Rescue War ") tells of Marissa Mayer's ups and downs to become one of the powerful people. Best of Silicon Valley and failure made her fall.
But the story of one of the most powerful characters in Silicon Valley, especially the way Marissa Mayer falls from the gate of paradise will be mentioned for years to come.
Marissa Mayer was born in 1975 in a small town called Wausau located in Wisconsin, USA. Her father is an engineer, and her mother is an art teacher.
Marissa Mayer soon revealed her talents in the field of mathematics and science , so she was always loved by school teachers. Although a talented speaker, her friends do not think she is an extrovert. In fact, Marissa Mayer once described herself as a " shy or bullied " child.
Marissa Mayer applied for 10 universities and was accepted by all 10 schools , including Harvard University, Yale University and Stanford University. But in the end, she decided to choose Stanford, hoping to become a doctor.
But Marissa Mayer's life has completely changed when she took a computer science class called CS105 . It was this course that gave her a deeper insight into the computer field. Famous alumni of this course can include LinkedIn Reid Hoffman, Scott Forstall of Apple and Mike Krieger of Instagram.
According to students from the university, Mayer is not sociable. As soon as she graduated, Mayer had 12 job offers. The last offer came from Google, a small startup at the time.
At that time, Mayer was planning to work at McKinsey, a management consulting firm. According to his personal analysis, Google had only 2% chance of surviving at the time but she was fascinated by people at Google and thought she could learn more.Mayer accepted Google's offer and worked there for the next 13 years.
Google - the first foundation for Mayer's career. Marissa Mayer always has a lot of affection for Google.In the first two years, she often worked 100 hours a week . In addition, she continued to teach at Stanford University for the first few years while working at Google.
With effort and passion, Marissa Mayer quickly rose to the top. She started as a member of the user interface group but soon became product manager. By 2003, Marissa Mayer was responsible for Google's consumer products, including the core search engine.
Marissa Mayer admits to spending time with Google co-founder Larry Page . This relationship is very tight and they do not show any affection at the office. They describe this relationship as " Two people quietly dating in silence ".
In 2005, Marissa Mayer was appointed Vice President of search and user experience products . At that time, Mayer developed a program for product meetings related to Larry Page. According to Steven Levy, author of the Google Empire " In the Plex " book, Marissa Mayer is a member of a small group of prominent executives called " secret cabal ".
Marissa Mayer had a great relationship with the media and the press . Rumor has it that Google has built a separate PR group just for Mayer. However, that is not true but Google has a group of PR people dedicated to promoting her career.
Marissa Mayer constantly appeared in public by generous spending . She bought a $ 5 million penthouse at Four Seasons in San Francisco and another house near Google's Mountain View campus. In addition, she often wears Oscar de la Renta designer clothes.
It was the perfectionism and the rigid management style that prompted Mayer to have some more opponents at Google . The famous designer Doug Bowman quit his job at Google saying: " I'm tired of having to argue with her design decisions. There are more interesting design issues than minor details. there ".
Frustration continues to grow within the Google company . Amit Singhal, one of the best employees, who is responsible for search engine support algorithms, did not cooperate with Mayer. He went directly to Larry Page and asked to remove Mayer from the search team.
Finally, Amit Singhal decided to leave Google to join Uber. In February 2017, Singhal resigned from Uber after being found guilty of sexual harassment while working at Google.
Mayer was eventually transferred to the Google Maps management team and local products . Mayer is still one of the top executives, but some consider it a " conspiracy" because she is no longer in charge of Google's most important products and search engines.
By 2011, Mayer's great time at Google ended. However, she soon had the opportunity to become Yahoo's new CEO. There were others involved in the negotiations, including Nikesh Arora, later business director at Google and Eddy Cue, Apple's senior vice president of internet software and services.
Some insiders of Yahoo were suspicious of the decision to recruit Mayer because she did not have much experience in corporate finance management . Mayer is a better product maker than an executive CEO. After that, Yahoo's board of directors unanimously voted her the next CEO.
Mayer started working at Yahoo in July 2012 . There was too much expectation and expectation placed on Mayer. There is even a poster of Mayer designed in the " Hope " style of US President Barack Obama.
Mayer quickly took over and created his own empire at Yahoo. Besides, she also brought in some of her trusted employees. In the first year, Yahoo's stock rose from $ 15.74 per share to $ 28 per share in August 2013.
One of the factors contributing to the success is because Yahoo owns a stake in Alibaba . When Alibaba was listed in 2014, Mayer helped Yahoo secure because Yahoo's stock is one of the few ways to invest in China's e-commerce giant. Soon after, Mayer and shareholders made a plan to sell Yahoo's remaining shares in hopes of avoiding taxes.
Even so, Mayer has significantly improved the design of some products and visits to Yahoo's core applications. According to many people, Marissa Mayer has changed the internal culture at Yahoo and brought a lot of excitement.
However, revenue from Yahoo's core business has not improved much. This brought Mayer into a difficult position.
Investors suffer when the IRS refuses to ruling Yahoo's request to sell a stake in Alibaba, it will not be taxed in September 2015. This does not necessarily mean that Yahoo will have to pay taxes, but makes for Yahoo shares fell 4%.
Later, Mayer lost key personnel such as Marketing Director Kathy Savitt and Technical Director Jackie Reses. Many people have questioned the strategy when Mayer spent about $ 3 billion to buy Tumblr and Polyvore. This does not bring much meaning to Yahoo's growth.
Hedge fund manager Eric Jackson sent a 99-page report describing why Yahoo needs new management. Eric Jackson proposed to cut the size of the company and give up some businesses like search. A few months later, Starboard investor sent a letter requesting " important changes " in management, board and Yahoo's strategy.
In early 2016 there were a series of rumors and speculation that many companies intended to buy Yahoo such as Comcast, Disney, AT&T and some other companies. Finally, in July 2016, Verizon announced it would buy Yahoo for $ 4.83 billion.
The deal includes Yahoo's core businesses that will be merged with Verizon's AOL into a new entity called " Oath ". Verizon will not receive Yahoo shares in Alibaba or Yahoo Japan. The rest will become a company named " Altaba ".
In the fourth quarter of 2016, Yahoo faced two information leaks that damaged 500 million and 1 billion user accounts respectively . There were immediate concerns as Verizon could withdraw from the deal after these two incidents. Finally, the deal price has dropped to 350 million USD, to 4.48 billion USD.
After all, Marissa Mayer is no longer the CEO of Yahoo. The deal started, the Yahoo Mayer era ended and the Verizon era began. Marissa Mayer's ups and downs have closed and opened a new future.
See more: Journey to become Google CEO of Sundar Pichai
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