After a 20-year battle with the CCP, Yahoo, the one-time American tech giant that is now mostly owned by private equity giant Apollo (along with a small stake held by Verizon), has decided to pull out of its China business, becoming the second American firm to depart China over ethical considerations surrounding free speech in the span of a month.
When we reported on LinkedIn’s departure from China, we noted that its departure marked the last major social media network to leave the Chinese market. But Yahoo, which offers web hosting and email services has been quietly plugging along in China for years — it has also maintained a relatively large presence in Japan for years.
Yahoo pulled its services from China due to what it described as an “increasingly challenging business and legal environment.”
“In recognition of the increasingly challenging business and legal environment in China, Yahoo’s suite of services will no longer be accessible from mainland China as of Nov. 1,” a Yahoo spokesman said. “Yahoo remains committed to the rights of our users and a free and open internet. We thank our users for their support.”