Marissa Mayer says Yahoo should’ve bought Netflix or Hulu, not Tumblr, during her time as CEO.
“We looked at a transformative acquisition, and we bought Tumblr,” Mayer said in an interview with Tech Brew. “At the same time, we were also considering whether it was possible to buy Hulu or, ironically, Netflix. And I think Netflix was $4 billion and Hulu was at $1.3 billion at the time. And either of those, with hindsight being 20/20, would have been a better acquisition.”
Yahoo paid $1.1 billion for Tumblr in 2013 but struggled to make sense of the platform among its other media efforts. The company started bringing ads to Tumblr and pushed employees to meet unrealistic sales goals. In 2016, Yahoo wrote down Tumblr’s value by $230 million….