Apollo on September 1 closed its $5 billion
acquisition of Verizon Media and renamed it Yahoo after Verizon's iconic
digital brand. AOL, TechCrunch, Makers, Ryot and Flurry were some of the other
brands under the Verizon Media umbrella.
Apollo is looking to grow offerings such as
Yahoo Finance and Yahoo Sports through new business initiatives including
subscriptions, while also focusing on advertising and ecommerce platforms.
Separately, Match Group, the parent of Tinder,
named Renate Nyborg as CEO of the dating app to replace Lanzone.
Nyborg, who served as Tinder's general manager
in Europe, Middle East and Africa region, is also the first woman to take the
job since Tinder's inception in 2012.
Scott Kessler, analyst at investment research
firm Third Bridge, said Lanzone makes a good fit for Yahoo, given his stint
with CBS Interactive where he oversaw digital media brands and drove the
development of the company's streaming services, including CBS All Access.
"He's done this before and even though
the stakes are a lot higher, Apollo and other investors want to see value from
it."
Yahoo.com, which competes with more recent
albeit bigger players including Google and Facebook, is among the top five most
visited websites in the United States and among top 20 in the world, according
to Alexa Internet, a web traffic analysis firm.
Lanzone replaces Guru Gowrappan, who led
Verizon's media business since 2018 and has now been named senior adviser to
Apollo's private equity business.
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