In a bid to spin off its core businesses, American multinational technology company Yahoo Inc is exploring options for the sale of $1 billion to $3 billion in patents, property and other non-core assets.
The Chief Financial Officer (CFO) of Yahoo, Ken Goldman, while speaking at the Morgan Stanley technology, media and telecom conference said that a committee has been created for the same, reports Reuters.
Yahoo Inc had announced last month that it would be slashing 15 percent of the company’s workforce or roughly 1,600 jobs and closing several business units as part of its cost cutting plans.
Headquartered in California, Yahoo is globally known for its Web portal, search engine Yahoo! Search, and related services, including Yahoo! Directory, Yahoo! Mail, Yahoo! News, Yahoo! Finance, Yahoo! Groups, Yahoo! Answers, advertising, online mapping, video sharing, fantasy sports and its social media website.
It is one of the most popular sites in the United States.