Yahoo was in a competitive business space (search engines) and losing ground to Google and then Microsoft.
Google had Adwords which has powerful metrics on engagement. Google could run advertisements on webpages and then report how many were viewed, how many were clicked through and more importantly Google could target the demographics that advertisers were paying for, and show that this targeting resulted in better engagement.
Microsoft was late to the game, but their huge investment was giving them a search engine that was improving by leaps and bounds.
Yahoo employed Marissa Mayer as CEO. She was ex Google, and she sold the board of directors on her vision. She was Google Employee #20 and she had run the search division as VP. Stock shot up in the first year of her in the CEO role.
Reality failed to follow expectation, and the core business of Yahoo search did not grow.
Yahoo would exit the Search Engine business and find a new business model that would make even more money!
So Yahoo literally fired their Search Engine department. They licensed their search results from another company, either Google or Bing, but it doesn't matter which.
The idea was that Marissa could use her deep insights into technical risk to identify the Next Big Thing before it happened, then get in on the ground floor. This would return fantastic profits and make all the shareholders rich!
Marissa then proceeded to burn through the vast cash reserves of Yahoo over then next five years. She was looking for the next Apple or Facebook. Instead she invested in failure after failure until every last cent was gone. Yahoo got bought by Verizon.
Then she took her enormous salary, huge golden parachute and basically retired. She runs her own tech incubator called "Lumi Labs" which is more or less a vanity project.
I'll read your thing; You don't have to type it out here unless this is the first time.
Yahoo was in a competitive business space (search engines) and losing ground to Google and then Microsoft.
Google had Adwords which has powerful metrics on engagement. Google could run advertisements on webpages and then report how many were viewed, how many were clicked through and more importantly Google could target the demographics that advertisers were paying for, and show that this targeting resulted in better engagement.
Microsoft was late to the game, but their huge investment was giving them a search engine that was improving by leaps and bounds.
Yahoo employed Marissa Mayer as CEO. She was ex Google, and she sold the board of directors on her vision. She was Google Employee #20 and she had run the search division as VP. Stock shot up in the first year of her in the CEO role.
Reality failed to follow expectation, and the core business of Yahoo search did not grow.
Yahoo would exit the Search Engine business and find a new business model that would make even more money!
So Yahoo literally fired their Search Engine department. They licensed their search results from another company, either Google or Bing, but it doesn't matter which.
The idea was that Marissa could use her deep insights into technical risk to identify the Next Big Thing before it happened, then get in on the ground floor. This would return fantastic profits and make all the shareholders rich!
Marissa then proceeded to burn through the vast cash reserves of Yahoo over then next five years. She was looking for the next Apple or Facebook. Instead she invested in failure after failure until every last cent was gone. Yahoo got bought by Verizon.
Then she took her enormous salary, huge golden parachute and basically retired. She runs her own tech incubator called "Lumi Labs" which is more or less a vanity project.