Part of Yahoo Is Sold
When Yahoo hired Scott Thompson to be their latest CEO in 2012 they probably didn’t think he would end up costing more than his salary. On the contrary, Scott ended up making one of the most expensive mistakes ever. At the time, Yahoo owned part of Alibaba. Yes, that Alibaba. Even though the company’s value was $30 billion, Thompson decided that Yahoo didn’t need 20% of that and sold their stake. After the sale, Alibaba’s value skyrocketed to more than $300 billion. This means Thompson cost Yahoo $54 billion. As you can imagine, he has since moved on.
Part of Yahoo Is Sold
Quaker Purchases Snapple
Quaker bought Snapple for $1.7 billion in 1994. At the time, both brands were popular and just the amount of money that was changing hands was truly a sight to behold. Little did Quaker know they would regret their decision in the end. Only three years later, they sold Snapple and Triarc Companies purchased the company for a measly $300 million. Quaker effectively wasted more than $1.4 billion on acquiring a brand that they should have let go to other bidders, such as Coca-Cola.
Quaker Purchases Snapple
