Yahoo mulls selling Santa Clara site in an 'active' market
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YAHOO! Inc is considering selling a development site in Santa Clara, California, punctuating a difficult year for the once-dominant Internet brand. "With the active real estate market in Silicon Valley and considerable interest having been expressed in the property, we are exploring all of our options including a possible sale," Yahoo spokeswoman Carolyn Clark said.
The move comes as Yahoo struggles to find a strategy to return the company to growth. Earlier last month, the company scrapped plans to spin off its valuable stake in Alibaba Group Holding, and is now considering bundling the rest of its assets into a separate company. The Internet icon confronts shrinking market share and sales that have been hovering around 2006 levels and has faced pressure from investors to make drastic changes.
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