Photo: Owen Thomas, Business Insider
Softbank bought a controlling stake in Sprint for ~$20 billion.It’s bad news for Yahoo, Yahoo shareholders, Marissa Mayer, Silicon Valley VCs, and tech startups.
- Yahoo Japan is a joint venture between Yahoo and Softbank. Softbank was, until a few weeks ago, preparing to pay Yahoo ~$3 billion for its stake. Already stalled over price, that deal is probably off the table for now. Loser: Mayer.
- Yahoo CEO Marissa Mayer was probably going to use at least some of the money for a dividend or share buyback. Loser: Yahoo shareholders.
- Mayer has already pledged $3 billion of the $3.65 billion Yahoo netted from its sale of Alibaba stock to shareholders, so she was probably keep some of the Yahoo Japan money to buy startups. That’s not going to happen now. Loser: Startups and their venture capitalist backers.