Yahoo Puts 3,000 Patents Up for Auction

yahoo marissa mayerYahoo is selling off around 3,000 patents from its portfolio, in an auction reportedly set to bring in more than $1bn (£687m) for the struggling company.

According to The Wall Street Journal, these patents date back to Yahoo’s founding in 1996, and include the search technology the company was originally built on.

“This represents a unique opportunity for companies operating in the internet industry to acquire some of the most pioneering and foundational patents related to web search and advertising,” a Yahoo spokesperson said in a statement.

The company has set a mid-June deadline for preliminary bids on these patents.

It appears to be a case of everything must go at Yahoo right now – just yesterday, we reported that Verizon had offered $3bn for its core internet business as the bidding, which began back in March, reaches its second round.