Yahoo toned down its 2016 Christmas party after reportedly spending $7 million on the party in 2015.
The relatively humble event was hosted at Yahoo’s offices in New York and Sunnyvale, Calif., reports Business Insider.
This year’s event was called the “Ultimate House Party,” in which the office space was transformed into a giant party venue with an apparent abundance of food and drink. While the party was still lavish in some respect, it was far less luxurious than the previous party. (RELATED: Microsoft Sends Out Terribly Awkward Email, Clearly Wants To Sit At The Cool Kids’ Table)
CEO Marissa Mayer threw a $7 million Great Gatsby-themed holiday party last year at Pier 48 in San Francisco, according to The Daily Mail. The gathering had a photo shoot that cost $70,000 alone, copious amounts of expensive champagne, and a number of pricey entertainers like magicians, jugglers, and flapper imitators, reports Business Insider.
Yahoo’s decline has been stimulated by many obstacles in the last year. Most notably, Yahoo revealed that one billion users had their personal information stolen due to a massive hack. This hack was a separate incident from the other cyber intrusion reported in September. (RELATED: One Billion Yahoo Accounts Hacked, Company Breaks Own Record)
Verizon originally made preliminary agreements to purchase Yahoo for $4.8 billion, a fraction of what Yahoo was once worth. Following the latest incident, Verizon reportedly wants a further discount and is even considering scrapping the deal altogether. (RELATED: Yahoo Cybersecurity Team Labeled ‘Paranoids’ Often Clashed With CEO Mayer)
When The Daily Caller News Foundation reached out to Yahoo for comment on the latest cybersecurity breach, TheDCNF was referred to a statement Mayer made on Q3 2016 (10/25) earnings.
“To that end, we take deep responsibility in protecting our users and the security of their information. We’re working hard to retain their trust and are heartened by their continued loyalty as seen in our user engagement trends,” she stated at the time.
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