Yahoo appointed six people to its board, including Jessica Alba, Hollywood actress and entrepreneur.
Verizon sold Yahoo to Apollo Funds in September 2021, essentially putting Yahoo under its own name for the first time in years. The company has been working to rebuild its fortunes and compete in an internet landscape far different from the one it started in. As part of its attempt, the company is reworking its board in an effort to increase diversity, according to Reuters.
At the time of the purchase, Apollo Funds made it clear it intended to help rebuild Yahoo over the long haul:
“We look forward to partnering with Yahoo’s talented employee base to build on the company’s strong momentum and position the new Yahoo for long-term success as a standalone consumer internet and digital media leader,” said Reed Rayman, Partner at Apollo.
As Reuters points out, since the acquisition Yahoo has been growing its Yahoo Finance and Yahoo Sports properties, as well as its advertising an e-commerce platforms.
The company is clearly determined to regain its place as one of the preeminent internet companies, and hopefully its latest efforts will help it accomplish its goal. More competition is a good things, and Yahoo is one of the few companies that has the name brand necessary to give Google and Meta a run for their money.