SUNNYVALE (CBS SF) – While Yahoo considers spinning off its core internet business as its stock drops considerably, the company recently threw a lavish holiday party that reportedly cost millions.
Pictures posted to social media showed the roaring ‘20s-themed party that reportedly took place at Pier 48 in San Francisco. The pictures showed a party space filled with chandeliers and a vintage Rolls Royce.
According to Vice, the party included “swinging flapper aerialists,” a burlesque troupe, costumed actors wearing 1920s garb, along with fine food and drink.
CEO Marissa Mayer was spotted posing for photos with party attendees. Mayer, who was pregnant at the time, gave birth to twin girls several days later.
Eric Jackson, a Yahoo investor who wants Mayer removed, claimed the party cost $7 million in a presentation to shareholders. A source told Vice that the party cost less than a third of what Jackson claimed.
Yahoo stock has been down about 30 percent so far this year. Last week, the Sunnyvale-based company announced that it was scrapping its plan to sell off its stake in Chinese internet company Alibaba. Instead the company is looking at spinning off all of its other businesses into a new company.