Verizon is selling its digital media businesses, Yahoo and AOL, to Apollo Global Management for $5 billion, a roughly 40% discount for when it acquired the two companies between 2015 and 2017. The sale ends Verizon’s short-lived effort to build a digital ad business, which began with the 2015 purchase of AOL. That brought digital ad veteran Tim Armstrong into Verizon, leading to the 2017...
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Instacart’s Bleak Second-Half Outlook: Slower Growth, Lower Profits
Instacart’s first couple of quarters on the public markets could come with slower revenue growth and lower profits than it reported in the first half, according to private forecasts from analysts at banks that underwrote Instacart’s initial public offering this month. The low expectations could further dent Instacart’s stock price, which has still been hovering around its IPO...
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