Rumor has it that Marissa Mayer, the CEO of Yahoo Inc., has purchased a 'funeral home' for $11.2 million, near her sub-urban home in Palo Alto, California.
Several news sources are reporting that Mayer is the owner of Roller & Hapgood & Tinney, a 114-year-old funeral home that sits just a few blocks away from her residence. According to the Daily Mail, the purchased deal closed Oct.7 and the funeral home is slated to close its doors on Halloweens Day, Oct. 31. How ironic!
The property was last assessed in 2012 for about $627,285. The lot includes a huge 12,000 square feet mortuary, reports The Business Journal.
Looks like Mayer is pulling-off a 'La Mark Zuckerburg'. Recently, the CEO of Facebook went on a buying spree and purchased three consecutive lots adjacent to his home to protect his privacy. Mayer has followed suit.
The 1.16 acre property was identified as a potential lot which could accommodate 21 residences. Maybe Mayer did not want a bunch of people invading her privacy and just bought the property instead!
The deal was delivered under the name of an anonymous trust. No news of what will be done with the property is out yet. However, the city council claims that any new development will need to go through a re-zoning process, reports Palo Alto Online.
The Business Insider speculates that Mayer might want to build a larger walled property at the lot, just like Google CEO, Larry Page.
We are hoping Marissa can throw a fabulous 'morgue-themed' Halloween party at the residence too, unless the neighbours object. According to the Daily Mail, locals say that Mayer is quite an 'intrusive' neighbour as her loud parties create a lot of inconvenience for the people living around.
Marissa Mayer was recently declared the highest paid female CEO in the corporate world with annual earnings of $36.6 million, according to the new list at FindTheCompany.com.
With that kind of money, one can definitely afford that large a plot!
Yahoo Inc recently declared its Q3 results. Revenue slid down a percent to 1.08 billion and net earnings were down 91 percent to $297 billion. Its share in the search market has also declined significantly, reports ClickThrough.
However, Mayer is optimistic. "I'm very pleased with our execution, especially as we've continued to invest in and strengthen our core business," she said.
"We're endeavouring to gain share. We're designing new functionality, differentiating functionality. We're doing direct display units that bring the content right to the user in search results," she added.
