Apollo completes its $5B acquisition of Verizon Media, now known as Yahoo (techcrunch.com)

Wondering on the same thing. How is it valued at $5B? I know Yahoo Finance is popular. But not sure about other parts of its business.

"In addition to its titular Yahoo properties (Mail, Sports, Finance, et al.), the group includes us, TechCrunch; AOL; Engadget and interactive media brand, RYOT. All told, the umbrella brand encompasses around 900 million monthly active users globally and is currently the third-largest internet property, per Apollo’s figures."

$5bn for 9e8 MAU seems cheap.