How Yahoo Blew It

Wired is running a story on how Google edged out Yahoo in the search game, and now has nearly 70% of the search advertising market, while Yahoo continues to lose ground and now sits under 25%. Back in 2002, when Google was only a fledgling giant, and two years before it went public, Yahoo made an offer to buy Google -- for $3 billion. Google refused to sell. Yahoo's CEO, Terry Semel, wasn't about to offer the entire valuation of Yahoo to get Google, as his staff was advising. That would have been a merger. Instead, Semel decided he was going to buy competing technology and go against Google and trash them at their game. As history now tells us, Yahoo didn't quite make it, and today, Google is a giant, valued at $147 billion. The story is a great read.

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