Get All Access for $5/mo

Yahoo Looking to Sell About 3,000 Patents That Could Be Worth More Than $1 Billion The company has sent letters to a number of potential buyers for the patents, which date back to when the company was founded in 1996 and also include its original search technology.

By Reuters

This story originally appeared on Reuters

Reuters | Denis Balibouse | File Photo

Yahoo Inc. has hired boutique investment bank Black Stone IP LLC to sell about 3,000 of the internet company's patents, the Wall Street Journal reported, citing people familiar with the matter.

The company has sent letters to a number of potential buyers for the patents, which date back to when the company was founded in 1996 and also include its original search technology, the report said.

The deadline for bids for the patents has been set for mid-June by Yahoo, according to the Wall Street Journal.

In March, Yahoo said it would explore the sale of $1 billion to $3 billion of patents, property and "non-core assets".

Yahoo and Black Stone IP were not immediately available for comment.

(Reporting by Narottam Medhora in Bengaluru; Editing by Diane Craft)

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Business News

'We Pulled Off An SEO Heist': Entrepreneur Stole 3.6 Million Pageviews From Competitors — And Your Business Could Be Next.

This has huge implications for businesses that rely on Google's organic traffic for revenue.

Innovation

The Key to Real Innovation Is Cross-Pollination — Here Are 10 Ways to Implement It in Your Business

Transform your business with this unique approach to sparking innovation.

Business News

Wells Fargo Reportedly Fired More Than a Dozen Employees for Faking Keyboard Activity

The bank told Bloomberg that it "does not tolerate unethical behavior."

Business Solutions

Why Every Solopreneur Needs to Embrace AI-Powered Teams

With the right approach, solopreneurs can harness AI to drive efficiency, productivity and business growth.

Starting a Business

Spend Less Time Worrying About Your Company's Runway — And More Time Rethinking Your Strategy. Here's How.

Perceived short runways leave founders in angst. It does not have to be this way; the best way to extend the runway is the right strategy.