Expensive, gratuitous M&A eventually came to exemplify the indulgent decline of Yahoo in recent years. The $1.1bn acquisition of picture website Tumblr in 2013 has just been written down to less than $400m. It is a lesson Yahoo’s acquirer, Verizon, would be wise to acknowledge.
代價(jià)高昂且無意義的并購最終成為雅虎(Yahoo!)近年來自我放縱的衰落的例證。2013年，雅虎斥資11億美元收購圖片網(wǎng)站Tumblr，最近這項(xiàng)資產(chǎn)的價(jià)值被減記為不到4億美元。如果聰明的話，剛收購雅虎的美國電信巨頭Verizon要記取這個(gè)教訓(xùn)。
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