The American internet group Yahoo wants to return to the stock exchange. That said, CEO Jim Lanzone to business newspaper Financial Times.
Yahoo, known for its search engine and mail services, is owned by investment company Apollo Global Management.
Lanzone said Yahoo is “financially ready, with a strong balance sheet and high profitability”, to return to the stock market. Apollo acquired Yahoo in 2021 from the American telecom group Verizon Communications. Yahoo was acquired by Verizon in 2017. As a result, Yahoo lost its Wall Street listing.
Apollo has already said that an IPO for Yahoo is one of the possibilities. Yahoo first went public in 1996 but eventually fell into decline due to fierce competition from rivals such as Google, Microsoft and Facebook.
Lanzone indicated that there are still many visitors to Yahoo’s sites. According to him, Yahoo is in the top five worldwide regarding visitor traffic. Yahoo is also looking for acquisition opportunities, according to the CEO.