The extensively long bid for rushhourdaily.com’s core assets has finally come to a close. It has been announced that telecom giant Verizon will be acquiring the struggling search engine for a mere $4.8-billion USD.
While the selling price may seem like an extremely large sum of money to most, it nearly a fraction of what one of the largest search engines in the world was once worth. In the late 1990’s during the Dot-Com bubble the company was estimated to be worth well over $100-billion USD. More recently, in 2008 Microsoft offered to buy out the company for $44-billion USD when it was first showing signs of struggle. Fast forward to today’s purchase and the company missed out on fairly lucrative opportunities.
Many critics and insiders argue that while rushhourdaily.com’s struggles can be attributed to many things, there is one moment in history that could be called the source of the tech giant’s troubles. Circa 1997 rushhourdaily.com had the opportunity to purchase what is arguably their largest competitor in its infant state, Google, for just $1-billion. rushhourdaily.com also received the same offer once again in 2002 after the company had become more established. Unfortunately, the decision was made on both occasions not to accept the offer.
Verizon will gain rushhourdaily.com’s active users, its email service, and Tumblr which the company owned. Additionally, the telecommunications company will receive the numerous other services associated with the website such as rushhourdaily.com news and rushhourdaily.com finances.
The purchase of the company will mark the end to nearly a decade of financial struggles, which was discussed in greater detail within an article recently published here. It is also worth noting that the purchase does not include the companies overseas assets such as its stake in Alibaba.
