Yahoo Corporation is a multinational technology company that was founded in 1994 by Jerry Yang and David Filo. It started as a web directory, but it later expanded to provide a broad range of online services, including email, search engines, news, and financial information.
Yahoo’s Early Success
Yahoo Corporation quickly became popular due to its user-friendly interface and comprehensive search results. By 1996, it had already gone public and raised $33.8 million, which was a considerable sum at the time. The company’s stock continued to rise, and by 2000, it had a market capitalization of over $100 billion.
Acquisitions and Partnerships
Yahoo Corporation’s growth was further accelerated by strategic acquisitions and partnerships. In 1999, it acquired Broadcast.com for $5.7 billion, which allowed it to provide live streaming video content. It also partnered with AT&T to offer internet services to its customers. Other notable acquisitions include GeoCities, Overture, and Flickr.
Challenges in the 2000s
Despite its early success, Yahoo Corporation faced significant challenges in the 2000s. It struggled to compete with Google’s dominance in the search engine market, and it failed to capitalize on the growing mobile market. Its acquisition of the social networking site, MySpace, also proved to be a financial misstep.
In 2007, Jerry Yang took over as CEO of Yahoo Corporation. He implemented several changes, such as cutting jobs and focusing on mobile technology. However, he also turned down Microsoft’s acquisition offer, which was seen as a missed opportunity. In 2009, Carol Bartz replaced Yang as CEO, but she was unable to turn the company’s fortunes around.
Marissa Mayer’s Tenure
In 2012, Marissa Mayer became Yahoo Corporation’s CEO. She focused on improving the company’s mobile presence and making strategic acquisitions, such as Tumblr and BrightRoll. However, her tenure was marred by controversy, including a data breach that exposed the personal information of over 3 billion users.
In 2017, Verizon acquired Yahoo Corporation for $4.48 billion. This marked the end of Yahoo Corporation’s status as an independent company. Verizon merged Yahoo Corporation with AOL to create Oath Inc. However, this merger failed to gain traction, and Verizon ultimately wrote off $4.6 billion from the deal.
Current State of Yahoo Corporation
Today, Yahoo Corporation is a subsidiary of Verizon, and it continues to provide online services such as email, news, and search engines. However, it no longer dominates the tech industry as it once did. It faces stiff competition from Google, Facebook, and Amazon, among others.
Despite its challenges, Yahoo Corporation still has a significant user base and brand recognition. It has the potential to regain its position as a major player in the tech industry if it focuses on innovation and strategic partnerships. Additionally, its data analytics capabilities could be valuable in the age of big data and artificial intelligence.
Yahoo Corporation has had a tumultuous history, with its early success and subsequent challenges. However, its legacy lives on, and it remains a household name in the tech industry. Its future prospects will depend on its ability to adapt to changing consumer preferences and technological advancements.