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Yahoo Japan and Line Corp Announced Merger

18Nov By AdityaNo Comments

BUSINESS

Yahoo Japan and Line Corp Announced Merger

Online services Yahoo Japan and Line Corp. have announced they are merging. Z Holdings Corp., which owns SoftBank Corp. that operates Yahoo Japan, and Naver Corp. of South Korea, which owns a majority stake in Line, said Monday they are aiming for a final agreement by next month. The combination in a joint venture through a tender offer will form an online giant with retail services, advertising and other mobile services such as messaging. The combined sales would be the largest among Japanese online business operators, surpassing Rakuten Inc.. The companies said combining forces will allow them to stay competitive in a drastically changing market, including expansions into robotics and other new areas. The integration will be carried out equally, according to the companies,...

Yahoo Japan to acquire Online Fashion Retailer Zozo

12Sep By AdityaNo Comments

ACQUISITION

Yahoo Japan to acquire Online Fashion Retailer Zozo

Yahoo Japan will acquire a majority stake in the online fashion retailer Zozo founded by billionaire Yusaku Maezawa, known for buying pricey art and his space travel plans. The Japanese IT giant, a subsidiary of telecoms giant and investor SoftBank Group, aims to buy up to 152.95 million shares or a 50.1 percent stake in Zozo. The cost of the acquisition will be as high as 400.7 billion yen ($3.7 billion), with Yahoo Japan offering a 21 percent premium over Zozo's Wednesday closing price. The deal includes an agreement to acquire 92.7 million shares from Maezawa, equivalent to the 30.37 percent he owns in Zozo. Maezawa, known for his extravagant lifestyle and eccentric comments, will step down as Zozo chief executive from Thursday. "I will leave Zozo's future in the hands of ...

8May By AnkitaNo Comments

ACQUISITION

Softbank Acquire more stakes in Yahoo

Softbank, Japanese telecom and leading investment company said it will spend USD 4 billion to acquire more stakes in Yahoo Japan. After this acquisition, Japan will hold nearly 45 percent stakes of Yahoo Japan. On Wednesday, the company releases its forecast report and mention that with the additional stake in Yahoo, its revenue will rise to 4.8 trillion yen ($43.6 billion) in this fiscal year. Softbank, the Japanese mobile subsidiary of Softbank Group Corp., listed its shares in December in Japan's largest-ever initial public offering, at more than 2 trillion yen ($18 billion). It now holds a 12 percent stake in Yahoo Japan, which will become a subsidiary of Softbank Corp. with the acquisition of a 36 percent stake in the internet company held by its parent. Softbank Corp. ...

Paytm Launches QR code-based ‘PayPay’ Service in Japan with SoftBank, Yahoo Japan

22Oct By Gauri SinghNo Comments

News

Paytm Launches QR code-based ‘PayPay’ Service in Japan with SoftBank, Yahoo Japan

Paytm has launched a QR-based smartphone payment settlement service in Japan called PayPay in collaboration with SoftBank and Yahoo Japan Corporation. Paytm had formed a joint venture called ‘PayPay’ corporation with SoftBank and Yahoo Japan, and its first offering is a smartphone-based settlement service that allows users to store money from a bank account in their “PayPay” wallet and make payments with it. Paytm said it is built around its QRtech which it has deployed in India to allow customers to make offline payments. “...PayPay was developed with teams from three different countries working together, it is a true testimony for us and our industry-leading solutions that can be easily ported to suit the needs of any country or market,” Madhur Deora, CFO, Paytm said. Paytm is a...

SoftBank Eyeing to Acquire $2 billion of Yahoo Japan shares

10Jul By Gauri SinghNo Comments

ACQUISITION

SoftBank Eyeing to Acquire $2 billion of Yahoo Japan shares

The multinational holding conglomerate SoftBank Group Corp. is eyeing to buy shares of Yahoo Japan Corp. worth $2 billion in a complicated deal. The contract was initiated by Altaba Inc. The company warned a few months back that it would start relieving its 35% stake in Yahoo Japan. Last year, when Yahoo Inc. was sold, Altaba was born so that its profitable stakes in Yahoo and Alibaba Group could be carved out. According to the deal, SoftBank will buy 11 percent of Yahoo stakes from Altaba. After this, Yahoo Japan plans to buy back its own shares from SoftBank. The entire transaction essentially lets Yahoo Japan remove a major overhang from its stock while keeping its relationship with SoftBank mostly the same. The whole deal will enable Yahoo Japan to remove a major overhang fro...

Marisaa Mayer Letter To Yahoo Employees After Verizon Deal

25Jul By NitishNo Comments

Story

Marisaa Mayer Letter To Yahoo Employees After Verizon Deal

As Verizon Communications Inc announced that it would buy Yahoo Inc's core internet properties for $4.83 billion in cash to expand its digital advertising and media business, in a deal that ends a lengthy sale process for the fading Web pioneer. CEO and Head of Yahoo, Marisaa Mayer wrote an emotional letter to all search based employees. She mentioned in the blog - Today is a big day for Yahoo! This is the email that I sent to Yahoos around the world today. Given the interest around our journey to this point, I wanted to share more about today’s announcement. –Marissa. Dear Yahoos, Moments ago, we announced an agreement with Verizon to acquire Yahoo’s operating business. This culminates a rigorous, thorough process over many months, and yields a great outcome for the c...