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January 26, 2012 Yahoo Revenues Drop 21% in 2011 Yahoo announced its revenues and earnings for the fourth quarter of 2011. GAAP revenues were $1.32 billion, a 13% decline from the year ago quarter. Revenues for all of 2011 were $4.9 billion, down 21% from a year ago.The company reported net income of $1.06 billion for all of 2011. Yahoo has a partnership with Microsoft which now runs Yahoo's search technology and takes 12% of revenues generated. Last year, Yahoo, AOL and Microsoft announced an alliance to allow ad networks operated by the three companies to offer each other's premium nonreserved online display inventory to their respective advertising customers. Scott Thompson took over as CEO earlier this month and has a tough job ahead of him to reverse the company's revenue declines."Yahoo continued to make progress in the quarter with operating income increasing ten percent year over year," said Scott Thompson. "In 2012 we will be aligning resources behind key areas of focus to enable us to move aggressively in market and grow our business, bringing innovative new products and experiences to both our users and advertisers." January 18, 2012 Jerry Yang Quits Yahoo Yahoo co-founder Jerry Yang announced he has left the company. Yang has resigned from the Board of Directors and all other positions with the company. In addition, he has also resigned from the Boards of Yahoo Japan Corporation and Alibaba Group Holding Limited.The move could pave the way for a sale of the company. In a letter to the Yahoo Board Chairman Roy Bostock, Yang wrote: "My time at Yahoo, from its founding to the present, has encompassed some of the most exciting and rewarding experiences of my life. However, the time has come for me to pursue other interests outside of Yahoo. As I leave the company I co-founded nearly 17 years ago, I am enthusiastic about the appointment of Scott Thompson as Chief Executive Officer and his ability, along with the entire Yahoo leadership team, to guide Yahoo into an exciting and successful future."Yang co-founded Yahoo in 1995 with David Filo while a PhD student at Stanford and served as a member of the Board of Directors since March 1995 and as Chief Executive Officer from June 2007 to January 2009. The Company went public in 1996. Yang became CEO of the company in 2007. In February 2008, Microsoft offered to buy Yahoo for $44.6 billion or $31 per share but Yang failed to execute the deal and Microsoft canceled its offer. Shares in Yahoo now trade at half the price. "Jerry Yang is a visionary and a pioneer, who has contributed enormously to Yahoo! during his many years of service," said Roy Bostock, Chairman of the Yahoo! Board. "It has been a pleasure to work with Jerry. His unique strategic insights have been invaluable. He has always remained focused on the best interests of Yahoo!'s stakeholders, including shareholders, employees and more than 700 million users. And while I and the entire Board respect his decision, we will miss his remarkable perspective, vision and wise counsel. On behalf of the Board, we thank Jerry and wish him all the very best in his future endeavors." January 10, 2012 Yahoo CEO Pay Package Revealed A filing with the SEC shows what Yahoo is paying new CEO Scott Thompson, who took over on Monday. He will receive a $1 million base salary and an incentive bonus of up to $2 million in his first year as Chief Yahoo.Thompson will also get some hefty stock grants of $11 million in February plus an additional $5 million one-time grant this year. Yahoo will also compensate Thompson for leaving his position as President of PayPal to head the company. Thompson forfeited bonuses and equity awards from his previous employer and will get $1.5 million in cash from Yahoo and restricted stock of $6.5 million over the next year. Thompson will be eligible to participate in the benefit programs generally available to senior executives at Yahoo, including health insurance, life and disability insurance, the Employee Stock Purchase Plan, 401(k) plan, and a Flexible Spending Plan. He will be entitled to four weeks of vacation per year. The Company will also reimburse Mr. Thompson for reasonable legal fees incurred in connection with entering into the Agreement, up to a maximum of $25,000. January 4, 2012 Scott Thompson Named Yahoo CEO Yahoo has named Scott Thompson as the company's new Chief Executive Officer, effective January 9, 2012. Interim CEO Tim Morse will resume his role as Chief Financial Officer after Thompson takes over. Thompson has also been appointed to the Company's Board of Directors.Thompson served most recently as President of PayPal, a division of eBay, where he continued his established track record of growing businesses by driving customer engagement built on strong technology platforms. Under his leadership, PayPal solidified its lead as the global online payment service, expanding its user base from 50 million to more than 104 million active users in 190 countries worldwide, increasing the number of merchant partners to more than 8 million globally, and growing revenues from $1.8 billion to $4+ billion in 2011. "Scott brings to Yahoo a proven record of building on a solid foundation of existing assets and resources to reignite innovation and drive growth, precisely the formula we need at Yahoo!," said Roy Bostock, Chairman of the Yahoo Board. "His deep understanding of online businesses combined with his team building and operational capabilities will restore the energy, focus, and momentum necessary to grow the core business and deliver increased value for our shareholders. The search committee and the entire Board concluded that he is the right leader to return the core business to a path of robust growth and industry-leading innovation." "Yahoo is an industry icon and I am very excited about the prospect of working with one of the great teams in the online world to deliver Yahoo's next era of success," Mr. Thompson said. "Yahoo has a rich history and a solid foundation to build on, and its continued user engagement is one of the many reasons for my enthusiasm. With the ultimate goal of delivering the value our shareholders expect, my immediate focus will be on getting to know the entire team and hearing more from all Yahoos, working closely with the engineers and product teams, and diving deeply into our products and services to learn more about what our more than 700 million users find most engaging and useful. I will also be working directly with our region leaders and sales teams globally to get a clearer understanding of the needs of our advertisers and publishers. Clearly, speed is important but we will attack both the opportunity ahead and the competitive challenges with an appropriate balance of urgency and thoughtfulness. I cannot wait to get started." December 1, 2011 iPhone Most Searched Term on Yahoo Yahoo announced the most searched words on Yahoo for 2011 and iPhone was No. 1 overall. The data was based on over 700 million visitors and billions of overall searches.The iPhone led the 2011 search queries, bypassing a reality TV star's marriage and pending divorce, a notorious criminal defendant, and America's most wanted terrorist.
"The iPhone transcended gadget status," says
Women in pop culture dominated the Top 10 list.
November 10, 2011 Yahoo Partners With Microsoft, AOL to Sell Ads Yahoo, Microsoft, and AOL have agreed to partner in sell advertising available on their sites. The agreements will allow ad networks operated by Yahoo, Microsoft, and AOL to offer each other's premium non-reserved online display inventory to their respective advertising customers.While agencies and advertisers can continue to choose to partner across Yahoo Network Plus, AOL's Advertising.com, and the Microsoft Media Network, each of which is differentiated by its capabilities around data, optimization, packaging, and inventory, this partnership will also offer the efficiency of buying premium display inventory at scale to reach customers and audiences. Simultaneously, the partnership should enhance the demand for and value of each party's display advertising offerings as well as provide better yield for participating publishers and advertisers. "We're thrilled to partner with Microsoft and AOL and bring to market what we believe will be a more efficient, effective and more effortless way to access true premium inventory and formats," said Ross Levinsohn, Yahoo Executive Vice President of the Americas. "There has a been a significant shift in how inventory is bought and sold, and we're now 100% focused on controlling our own destiny, working directly with marketers and agencies and driving better returns for our advertising partners." By integrating one another's real-time bidding (RTB) technologies to facilitate the availability of non-reserved inventory, by early 2012, Yahoo, Microsoft, and AOL expect to have the opportunity to access each other's non-reserved inventory to achieve the benefits of scale and efficiency. The Microsoft Advertising Exchange and Yahoo's Right Media Exchange will initially serve as the two marketplaces from which the partners can procure this inventory for resale to advertisers and agencies. AOL may, at its discretion, opt to use its own exchange technology solution subsequent to the launch of the partnership. Under the terms of the non-exclusive agreements, each company will continue to make its own decisions, differentiate its offerings, and set its own controls for how it operates any exchanges, ad networks or other aspects of its display businesses. They will actively compete with each other for both advertiser spend and publisher partners based on their own unique product differentiators. The ad partnership covers the U.S. and is based on the premise of audience-based selling across a large number of sites and is not expected to affect direct sales made by each partner's respective internal teams. In addition to the United States, Yahoo and AOL will have an agreement that extends to Canada. Microsoft's Canada business is not participating directly in the agreement. November 2, 2011 Yahoo to Buy Interclick for $270 Million Yahoo announced it would buy New York-based Interclick for $270 million in an all-cash deal. Interclick's proprietary advertising and technology solutions enable it to dramatically improve data targeted solutions and optimized returns for advertisers across a variety of pooled premium supply sources. interclick has built the industry's leading data valuation platform optimized to work with large data volumes across multiple providers and marketplaces.With Interclick, Yahoo will acquire unique data targeting capabilities, optimization technologies and new premium supply, as well as a team experienced in selling audiences across disparate sources of pooled supply. "This investment underscores our focus on enhancing the performance of both our guaranteed and non-guaranteed display business across Yahoo and our partner sites and, combined with Yahoo's reach and advertising leadership, will deliver a powerful solution for marketers," said Ross Levinsohn, EVP, Americas region. "Interclick's innovative platform will allow Yahoo to expand its targeting and data capabilities to deliver campaigns with stronger performance metrics." Interclick helps marketers navigate the complex data online ecosystem with tools such as Open Segment Manager (OSM) and its Genome Platform. These solutions were built to address the fundamental challenges of audience targeting by enabling a more holistic understanding of consumers through its deep integrations with leading data providers. "Having worked closely with Yahoo! for the past few years, we have a deep appreciation of the quality of the inventory that Yahoo! brings to market. The combination of Yahoo!'s premium data and inventory with our platforms will create tremendous value for clients," said Michael Katz, founder and CEO of Interclick. October 19, 2011 Yahoo Reports Third-Quarter Earnings Yahoo reported results for the quarter ended September 30, 2011.Revenue excluding traffic acquisition costs ("revenue ex-TAC") was $1.072 billion for the third quarter of 2011, a 5 percent decrease from the third quarter of 2010. Income from operations decreased 6 percent to $177 million in the third quarter of 2011, compared to $189 million in the third quarter of 2010. The year over year decreases were primarily due to the revenue share related to the Search Agreement with Microsoft. Net earnings for the quarter were $293 million, down 26% from the same quarter in 2010. "We're pleased that revenue, operating income and EPS were all above consensus this quarter," said Tim Morse, CFO and Interim CEO of Yahoo. "My focus, and that of the whole company, is to move the business forward with new technology, partnerships, products, and premium personalized content -- all with an eye toward growing monetization." Yahoo's results for the third quarter of 2011 reflect $53 million in search operating cost reimbursements from Microsoft under the Search Agreement, which amount is equal to the search operating costs incurred by Yahoo in the third quarter. Search operating cost reimbursements are expected to continue to decline as Yahoo fully transitions all markets to Microsoft's search platform and the underlying expenses are no longer incurred under our cost structure. October 4, 2011 Yahoo Teams Up With ABC News Yahoo and ABC News announced a strategic alliance that will enhance and transform the delivery of news and information across the digital landscape. This multifaceted relationship blends Yahoo News' unmatched audience, as well as its depth and breadth of content, with ABC News' global newsgathering operation and unrivaled lineup of trusted anchors and reporters. Yahoo News and ABC News reach a combined audience of more than 100 million people in the U.S. each month on PCs, mobile devices and tablets.The alliance launches with the debut of GoodMorningAmerica.com on Yahoo and three new, online-first video series with ABC News' anchors and correspondents. Editorial teams from both organizations will collaborate on branded content that will appear on both the Yahoo News and ABC News sites. Teams will co-produce coverage for major news events and will have integrated bureaus in New York, Washington, D.C., and Los Angeles. Yahoo! editorial staff or content will appear on air. "Yahoo is committed to building the richest set of premium and personalized content experiences for our users. Our deep collaboration with ABC News further strengthens Yahoo as the No. 1 online news source, greatly enhancing our already robust news content," said Ross Levinsohn, executive vice president of Americas at Yahoo. "ABC News and Ben Sherwood's vision is completely symbiotic with ours; together we can create highly engaging experiences for more than 100 million users a month that will set the standard for the industry." "This relationship will give ABC News an unrivaled ability to reach across the Web, combining Yahoo!'s vast distribution and cutting-edge technology with our award-winning journalism. For years, we've proudly proclaimed that more Americans get their news from ABC News than any other source," said Ben Sherwood, president of ABC News. "Going forward, we will greatly expand this leadership by building a connection with a whole new online audience." September 6, 2011 Yahoo Gives Carol Bartz the Boot Yahoo has fired Chief Executive Officer Carol Bartz and Timothy Morse, the company's Chief Financial Officer, has been named interim CEO. Bartz was reportedly dismissed over the phone by company Chairman Roy Bostock.Bartz took over as CEO from founder Jerry Yang in January 2009. Yahoo has struggled against industry leader Google in search and eventually outsourced its technology to Microsoft. The Yahoo Board has also named key senior Yahoo executives to a newly formed Executive Leadership Council tasked with supporting Morse in managing the Company's day-to-day operations until a permanent chief executive is appointed, as well as supporting a comprehensive strategic review that the Board has initiated to position the Company for future growth. Roy Bostock, Chairman of the Yahoo Board, said, "The Board sees enormous growth opportunities on which Yahoo can capitalize, and our primary objective is to leverage the Company's leadership and current business assets and platforms to execute against these opportunities. We have talented teams and tremendous resources behind them and intend to return the Company to a path of robust growth and industry-leading innovation. We are committed to exploring and evaluating possibilities and opportunities that will put Yahoo! on a trajectory for growth and innovation and deliver value to shareholders." Bostock continued, "On behalf of the entire Board, I want to thank Carol for her service to Yahoo! during a critical time of transition in the Company's history, and against a very challenging macro-economic backdrop. I would also like to express the Board's appreciation to Tim and thank him for accepting this important role. We have great confidence in his abilities and in those of the other executives who have been named to the Executive Leadership Council." In addition to Morse, who will also continue in his role as Chief Financial Officer of Yahoo, the Executive Leadership Council will consist of Michael Callahan, Executive Vice President, General Counsel and Secretary; Blake Irving, Executive Vice President and Chief Product Officer; Ross Levinsohn, Executive Vice President, Americas; Rich Riley, Senior Vice President & MD, EMEA Region; and Rose Tsou, Senior Vice President, APAC Region. The Co-founders of Yahoo, David Filo and Jerry Yang, will each continue as Chief Yahoo and will provide counsel to Tim and the Executive Leadership Council. "It is an honor to be selected for this role and lead the Company with this world-class team of executives. I look forward to working with the Executive Leadership Council and the talented employees of Yahoo, and to partnering with the Board to invest in the organization and continue to drive its ongoing growth plans," said Tim Morse, Interim Chief Executive Officer. The Board is commencing a search for a permanent CEO and expects to hire the services of a nationally recognized executive search firm to help it identify candidates for the position as soon as possible. August 25, 2011 Yahoo Adds App Search Yahoo has added a new feature to its search engine allowing users to search for apps for their mobile phones.Yahoo's App Search is an easy way to help you find and browse apps across the web and popular app marketplaces. The Apps home page shows the most popular apps for both iPhone and Android platforms and lets you download them to your phone. Charts also show the most popular free and paid apps. Mobile phone users can also download Yahoo's own AppSpot app to easily search for apps on their phones. August 1, 2011 Yahoo Reaches Agreement Over AliPay Yahoo and SoftBank announced they have reached an agreement in whichKey Terms of the Agreement: The agreement establishes the following:
"Over the last few months, we have worked cooperatively with our
partners at
"This is a good outcome for
Alipay provides payment processing services to July 21, 2011 Yahoo Reports Second Quarter Revenues Yahoo reported revenues of $1.076 billion in the second quarter of 2011, down 5% from a year ago. Net earnings were $237 million, up 11% from the previous year."For the quarter, earnings per share was up by 18% year over year. We made clear progress in search, and saw strong growth in engagement on our media properties," said Carol Bartz, CEO of Yahoo. "We experienced softness in display revenue in the second half of the quarter due to comprehensive changes we have made in our sales organization to position ourselves for more rapid display growth in the future." Yahoo said it broke traffic records in April from the British Royal Wedding with over 400 million page views in one day. News of Osama Bin Laden's death earlier this year also led to 900 million page views, 50 million video streams and 500 million photos viewed in the first week. July 6, 2011 Yahoo Partners With Benchmark Capital Yahoo and Benchmark Capital announced the formation of Hortonworks, an independent company consisting of key architects and core contributors to the open source Apache Hadoop technology pioneered by Yahoo. The formation of Hortonworks increases investment in the development of Apache Hadoop and will accelerate adoption by making it more robust and easier to install, manage and use for enterprises and technology vendors. This investment will enable Apache Hadoop to meet the growing market demand and become the big data management and analysis platform of choice for the industry.Apache Hadoop is the open source technology at the epicenter of big data and cloud computing. It enables organizations to more efficiently and cost-effectively store, process, manage and analyze the ever-increasing volume of data being created and collected every day. With Apache Hadoop companies can connect thousands of servers to process and analyze data at supercomputing speed. Yahoo pioneered, is the primary contributor to, and one of the leading users of Apache Hadoop. "Apache Hadoop has been and will continue to be an important area of investment for Yahoo. The creation of Hortonworks will enable Yahoo to leverage a commercial partnership in addition to our continued internal investment to accelerate the evolution of the technology and its use to power Yahoo's business," said Jay Rossiter, senior vice president, Cloud Platform Group at Yahoo. "Forming Hortonworks with Benchmark Capital is the natural next step in the evolution of Apache Hadoop. As Hadoop demand continues to increase, Hortonworks will help organizations more rapidly and effectively implement the technology to derive value and insights from large data sets." "We anticipate that within five years, more than half the world's data will be stored in Apache Hadoop. We've assembled a top caliber team committed to the Apache open source community and with the technology and business expertise to deliver value to the big data market," said Eric Baldeschwieler, named CEO of Hortonworks and formerly VP of software engineering for the Hadoop team at Yahoo. "Apache Hadoop is an exceptionally valuable technology and its growing adoption during the last five years demonstrates its potential to quickly become the de facto platform for managing big data. " May 16, 2011 Yahoo in Talks With Alibaba Over Alipay Yahoo Inc. issued the following statement in response to recent media reports regarding the timing of the restructuring of Alipay:On March 31, 2011, Yahoo and Softbank were notified by Alibaba Group of two transactions that occurred without the knowledge or approval of the Alibaba Group board of directors or shareholders. The first was the transfer of ownership of Alipay in August 2010. The second was the deconsolidation of Alipay effective in the first quarter of 2011. Yahoo disclosed this restructuring in its 10-Q after discussions with Alibaba Group and obtaining a better understanding of this complex situation. Yahoo continues to work closely with Alibaba and Softbank to protect economic value for all interested parties. We believe ongoing negotiations among all of the parties provide the best opportunity to achieve an outcome in the best interest of all stakeholders. Alibaba Group is a global e-commerce leader and the largest e-commerce company in China. Yahoo has a 43% stake in Alibaba. Since it was founded in 1999, Alibaba Group has grown to include the following core businesses: Alibaba.com , Alibaba Group's flagship company and the world's leading B2B e-commerce company; Taobao, China's largest online retail website and a one-stop platform for shopping, socializing and information sharing; Alibaba Cloud Computing, a developer of advanced data-centric cloud computing services; and China Yahoo, one of China's leading Internet portals. Alipay is a third-party online payment service in China. April 25, 2011 Yahoo Buys IntoNow Yahoo said it has agreed to acquire IntoNow, a startup based in Palo Alto. Launched in January 2011, IntoNow has built a platform and companion TV application based on real time indexing of television that deepens the connections between audiences, television content and advertisers. IntoNow has indexed more than five years of US based television programming, creating a rich database to build video discovery and programming experiences. IntoNow is able to identify content down to the airing, episode and time within the program as well as provide program information and links associated with it, all within a matter of seconds.Financial terms were not disclosed. "Relying on social channels as a means for discovering content -- whether it's on a PC, mobile device, or TV -- is rapidly on the rise. IntoNow's technology combines the ability to check-in to what a consumer is watching, engage in conversations, and find related content," said Bill Shaughnessy, SVP of Global Product Management at Yahoo. "The IntoNow application the team has built clearly demonstrates the opportunities the technology presents across Yahoo's network, especially in regards to our video content, search, mobile and Connected TV experiences. We are excited to have the IntoNow team join Yahoo as we continue to build out these experiences." "IntoNow has built a unique way for people to engage with each other around the content they enjoy," said Adam Cahan, CEO of IntoNow. "Companion applications and devices are changing the way we interact with TV in significant ways. The IntoNow team is excited to be joining Yahoo to help create new consumer experiences and to be part of Yahoo's global scale and reach." April 21, 2011 Yahoo Reports First Quarter Earnings Yahoo reported results for the quarter ended March 31, 2011. Revenue excluding traffic acquisition costs (“revenue ex-TAC”) was $1.06 billion for the first quarter of 2011, a 6 percent decrease from the first quarter of 2010, primarily due to the revenue share related to the Search Agreement with Microsoft. Excluding this item and other special items, revenue ex-TAC for the first quarter of 2011 was flat year over year. Special items include the impact of the divestitures of Zimbra and HotJobs, broadband deferred revenue amortization, and certain fee rate reductions.Net earnings for the first quarter were $223 million, down 28% from a year ago. “We are solidly executing toward our plan for returning Yahoo to sustainable revenue and profit growth,” said Carol Bartz, CEO of Yahoo. “During the quarter, we beat the midpoint of revenue guidance while continuing to deliver on the bottom line. We continued to extend our lead as the world’s premier digital media company with users to Yahoo branded properties increasing 15% year over year and minutes spent increasing 17%.” Yahoo’s results for the first quarter of 2011 reflect $56 million in search operating cost reimbursements and $11 million in transition cost reimbursements from Microsoft under the Search Agreement, which amounts are equal to the search operating costs and the transition costs incurred by Yahoo in the first quarter. February 2, 2011 Yahoo Reports 4th Quarter Results Yahoo reported revenue of $1.52 billion for the fourth quarter of 2010, a 4% decrease from a year ago, and net income of $317.9 million. For all of 2010, Yahoo reported revenues of $6.32 billion, down slightly from $6.46 billion in 2009.The company also cut another 100-150 jobs in January on top of the 600 cuts in December. “We just completed a very encouraging quarter and year for Yahoo, where we saw our plans to turn around the company gain momentum,” said Carol Bartz, CEO of Yahoo. “For the year, operating income, margins, EPS, and return on invested capital doubled. Display advertising grew 17%. We completed the important North America Search transition to Microsoft on schedule and with high quality. We introduced new and updated products at a faster pace. And our content properties – like Yahoo Sports and Yahoo Finance – continued to innovate and extend their massive lead.“ January 7, 2011 Yahoo Promotes Connected TV Yahoo announced at the Consumer Electronics Show in Las Vegas that it is introducing a new consumer experience for TV, called broadcast interactivity, on its
"Our collaboration with leaders in television and brand advertising,
combined with the innovative technologies we're pioneering, signals the
beginning of a new era of highly personalized, Internet-enhanced
television," said With broadcast interactivity, TV programmers will be able to create TV apps that let viewers vote for a reality-TV participant, get more information about characters, or make e-commerce purchases while watching a show. For brand advertisers, broadcast interactivity will let them connect in real time with TV viewers during commercials or other branded entertainment experiences. Yahoo said it is working with Connected TV distribution partners including Broadcom Corporation, D-Link, Haier, MediaTek, Sony and Toshiba to enable the broadcast interactivity pilot on their devices in 2011. December 14, 2010 Yahoo Cuts 600 Jobs Before Holidays Yahoo revealed today it is cutting 4% of its workforce or 600 jobs according to the Associated Press.The cuts come just a little over one week before Christmas and is the fourth major layoff at the Internet company in the past three years. Yahoo has about 14,000 employees. "Today's personnel changes are part of our ongoing strategy to best position Yahoo for revenue growth and margin expansion and to support our strategy to deliver differentiated products to the marketplace," Yahoo said in a statement. "We'll continue to hire on a global basis to support our key priorities. Yahoo is grateful for the important contributions made by the employees affected by this reduction. We are offering severance packages and outplacement services to these employees." The cuts are expected to come from the Product Group of Yahoo which includes News, Finance, Sports and also the Flickr division. November 19, 2010 Yahoo Adds Social, Local Features Yahoo unveiled a host of product and content offerings to deliver consumers a more personal experience with new social and local features. Updates include Twitter and Zynga integrations across Yahoo, the global rollout of Yahoo Messenger Beta with new social features, the launch of Yahoo's Local Offers program, and new local Search apps for taking action right from the Yahoo Search results page.Yahoo now offers Facebook and Twitter integration so users can connect their accounts globally to see and share Twitter updates on the Yahoo homepage, Yahoo Messenger, Yahoo Mail, and Yahoo Pulse. Also, Yahoo introduced its Local Offers program with more than a dozen partners to provide a wide selection of local deals, coupons, and other offers -- from nearby spas, restaurants and other local retailers. Currently in beta in the U.S., Yahoo's Local Offers program will make it easy for millions of people to find the best local deals and savings on Yahoo. Launch partners include Groupon, LivingSocial, Gilt City, BloomSpot, BuyWithMe, DealOn, Zozi, CrowdSavings, Lifebooker, FreshGuide, Scoop St, Goldstar, HomeRun, Tippr, Coupons.com, and Valpak, with more partners to come. October 23, 2010 Yahoo Reports Results Yahoo reported results for the quarter ended September 30, 2010. Revenue was $1.6 billion for the third quarter of 2010, a two percent increase from the third quarter of 2009. Income from operations for the third quarter of 2010 was $189 million, an increase of 107 percent year over year. Excluding restructuring charges of $17 million in the third quarter of 2009 and $6 million in the third quarter of 2010, income from operations increased 80 percent year over year.Net earnings per diluted share for the third quarter of 2010 was $0.29, compared to $0.13 in the third quarter of 2009, a 126 percent increase. Net earnings per diluted share for the third quarter of 2010 included a benefit of $0.13 per diluted share related to the gain on sale of HotJobs, and net earnings per diluted share for the third quarter of 2009 included a benefit of $0.04 per diluted share related to the gain on sale of our direct investment in Alibaba.com. “We delivered a solid quarter with good display advertising revenue growth, big gains in operating income, and margins that were double what they were last year,” said Carol Bartz, president and CEO of Yahoo. “Because we recognize the tremendous value of our assets, we also dramatically stepped up our stock repurchases. We’ve now bought back more than 7% of the company’s stock this year alone.” In September, Yahoo completed the transition of algorithmic search results on Owned and Operated sites in the U.S. and Canada to Microsoft. Yahoo is in the process of transitioning from Yahoo’s Search Marketing platform to Microsoft’s search advertising platform (adCenter) in those markets and expects that transition to be completed by the end of October. October 6, 2010 Yahoo Buys Dapper Yahoo said it will acquire Dapper, a technology platform providing dynamic display ad creation and optimization. The company is based in San Francisco. The price of the deal was not disclosed.Dapper enables advertisers and agencies to quickly and easily build dynamic ad creative, leveraging data to automatically show the right product, offer, or message with each impression. Dapper's capabilities combined with Yahoo's already deep consumer insights will further enhance Yahoo's ability to deliver customized and relevant advertising. "Yahoo's unique combination of Science, Art and Scale connects advertisers with consumers in ways that drive results," said Frank Weishaupt, VP, North America Ad Marketplaces at Yahoo!. "Smart Ads will continue to be an important component of display advertising and the acquisition of Dapper will help Yahoo to more efficiently deliver dynamic and personalized ads for customers across more of our network." The acquisition builds upon Yahoo's current display advertising leadership and will accelerate the adoption of Yahoo Smart Ads. Yahoo currently partners with Dapper, along with others in this space, and owning this technology will help the company deliver innovative solutions to an even broader range of advertisers and integrate dynamic ad serving into key Yahoo properties. Dapper was founded by Eran Shir and Jon Aizen in 2006. August 30, 2010 Microsoft Now Powering Yahoo Search Microsoft's Bing search technology is now powering Yahoo sites after the transition was completed last week.First announced in 2009, Microsoft technology now powers Yahoo's web, video and image search on desktop and mobile devices in the U.S. and Canada. The company says more countries will be converted to Microsoft over the next few months. Yahoo will continue to focus on providing its own content along with content from third parties and social networks. July 18, 2010 Gannett, Yahoo in Local Ad Partnership Gannett and Yahoo announced a local advertising partnership that brings together Gannett's strong local media organization brands, sales capabilities, and leading website audiences with Yahoo's high quality audience and display advertising leadership.All of Gannett's 81 local newspaper sites and seven of its Broadcasting Division sites will sell Yahoo advertising inventory as part of Gannett's local advertising solutions. As a result, local advertisers will benefit from expanded digital reach and audience targeting capabilities based on geography, user demographics, interests, and more against that expanded audience. In addition, Gannett will be leveraging the targeting and ad ordering capabilities of the APT from Yahoo platform for local sales. This partnership will extend Gannett's local media organization reach to cover as much as 80% of the total digital audience in each market. "This partnership builds on the strength of Gannett's growing digital business and powerful local brands," says Gracia Martore, president, chief operating officer and chief financial officer at Gannett. "Working with Yahoo will allow us to offer targeted advertising messages with unmatched local audience reach." As part of the agreement, Gannett may also provide select local content for programming across Yahoo properties in the U.S., including the Yahoo homepage. A phased rollout will begin this quarter and will continue into 2011. July 9, 2010 Zillow to Power Yahoo Real Estate Portal Yahoo is partnering with Zillow to power all of the real estate listings on its site.Once the integration of Zillow's more than 4 million for-sale listings is complete, home shoppers using Yahoo Real Estate (realestate.yahoo.com) will continue to search for homes by geography, price and other criteria. The home shopping experience for Zillow's users will not change. The financial terms of the partnership were not disclosed. Although the partnership is expected to go into effect later this year, Zillow and Yahoo! Real Estate are immediately coordinating sales efforts for the advertising network. Upon full implementation, real estate agents and brokers who advertise and place their listings on the sites will receive greater value and simplicity in several key ways. July 1, 2010 Yahoo to Buy Back $3 Billion in Stock Yahoo announced in regulatory filings with the SEC that its Board of Directors agreed to purchase up to $3 billion of its outstanding shares of common stock over the next three years.The stock purchase could help boost the price of Yahoo shares, which have lagged competitors like Google over the past several years. The purchases may take place on the open market or through privately negotiated transactions. May 25, 2010 Yahoo, Nokia Form Partnership Yahoo and cellphone maker Nokia announced a worldwide partnership. Building on more than five years of collaboration, Nokia and Yahoo will leverage each others' strengths in e-mail, instant messaging and maps and navigation services, to provide consumers with access to world-class experiences on both PC and mobile devices.As part of the alliance:
"Delivering great user experiences - both online and on your mobile - is what this alliance is all about," said Olli-Pekka Kallasvuo, CEO, Nokia. "We're enabling millions of Yahoo customers in key markets including North America to discover the unique capabilities that Ovi Maps brings. Similarly, Yahoo's online expertise will bring exciting mail and messaging enhancements to millions of Ovi Mail customers across almost every country around the world, many of whom will have their first Internet experience on their mobile." "What a combination," said Carol Bartz, CEO, Yahoo. "We're excited to expand the reach of our best-in-class Mail and Messenger services, bringing personalized experiences to more people across the mobile Web, particularly in emerging markets where we are seeding the next generation of Yahoo users. At the same time, we believe Nokia's strength and continued investment in maps and navigation will greatly enhance our existing products, enabling us to focus on areas that are core to our business." May 13, 2010 Santa Clara Approves New Yahoo HQ The city of Santa Clara has approved plans for Yahoo to build a new headquarters campus at 5010 Old Ironsides Drive.The massive three-million square foot campus would be located about 10 miles from Google's own headquarters and house up to 12,000 employees in 13 six-story buildings. The company's current headquarters is located in Sunnvale near Moffett Airfield. No date has been announced on when construction would begin for the new Yahoo campus and when it would be completed. April 9, 2010 Yahoo CTO Steps Down Ari Balogh, Yahoo's Chief Technology Officer, is leaving the search engine and portal on June 3 for personal reasons according to Reuters.Balogh joined the company in February 2008 and is leaving due to a family situation. His full title at Yahoo is executive vice president of Products and Chief Technology Officer. In this role Balogh leads the company's Products organization, which is responsible for the vision, strategy, design and development of Yahoo's global consumer and advertiser product portfolio. Yahoo is expected to name a replacement within the next few weeks. March 18, 2010 Yahoo Buys Citizen Sports Yahoo has agreed to buy Citizen Sports, a San Francisco company that brings the world of sports to fans' favorite social networking sites and mobile devices through innovative applications. This acquisition will strengthen Yahoo's social strategy of enriching, aggregating and distributing social content from across the entire Web, and offering a highly customizable social experience."Yahoo is in a unique position to combine our deep expertise in content and aggregation technology to offer a highly personalized social experience," said Bryan Lamkin, senior vice president, Consumer Products Group, Yahoo. "Sports has been among the earliest online categories to experience rapid social proliferation, and the combination of Citizen Sports leading products with our world-class sports experience on Yahoo Sports is a win-win for sports fans globally." Millions of people across the globe use Citizen Sports' array of social and mobile products to play fantasy sports, fill out brackets, check live scores and read up-to-the minute news on sports including football, hockey, soccer, baseball, racing, rugby, hockey and cricket. Yahoo Sports' content will be integrated into these products, creating a seamless experience for sports fans wherever they are. On Yahoo! Sports, users will be able to broadcast their allegiances, create or join a conversation with friends and fans and cheer for their teams through Citizen Sports' applications. This integration will further transform Yahoo into a more personally relevant experience, drive deeper user engagement and create opportunities for advertisers to interact with audiences in new environments. As the #1 destination for online Sports with more than 39 million monthly unique users in the U.S., Yahoo! Sports provides people with the most timely, relevant and comprehensive sports news, information and programming. Citizen Sports' network of popular applications for Facebook, MySpace, hi5, iPhone and Android span professional, college and high school sports. Citizen Sports was founded by Mike Kerns and Jeff Ma in 2004. Ma is best known for being a blackjack card counter from MIT which was the subject of the book Bringing Down the House and the subsequent movie 21. February 20, 2010 Olympic Search Terms Soar on Yahoo The 2010 Winter Olympics in Vancouver is triggering a surge in related search traffic reports Yahoo.You've seen them during coverage of the competitions. Whenever anybody waves to the camera, they're impossible to miss. They're the bright red Canadian mittens, and it seems like everybody wants them. Since the games began last week, searches on Yahoo! for "olympic mittens" (up 176% this week) have been soaring. Related searches about "red olympic mittens, (up 182% this week)" "canadian olympic mittens," and "where to buy olympic mittens" surged from nothing into breakout status in the Buzz. Could figure skating impact the music world? Searches on Yahoo are spiking for music associated with figure skating competitions. Yahoo is seeing searches related to the song choices that skaters are skating to, including a song by Queen and “the Firebird Suite.” The Winter Games’ obsession is taking over the web. People seem to have caught the winter sports bug and are searching for anything and everything related to the athletes.
Individual sports are also garnering searches online:
February 18, 2010 Yahoo-Microsoft Search Deal Gets the OK Microsoft and Yahoo announced that they have received clearance for their search agreement, without restrictions, from both the U.S. Department of Justice and the European Commission, and will now turn their attention to beginning the process of implementing the deal.Implementation of the deal is expected to begin in the coming days and will involve transitioning Yahoo's algorithmic and paid search platforms to Microsoft, with Yahoo becoming the exclusive relationship sales force for both companies' premium search advertisers globally. Once the transition is completed, the companies' unified search marketplace will deliver improved innovation for consumers, better volume and efficiency for advertisers and better monetization opportunities for web publishers through a platform that contains a larger pool of search queries. "This breakthrough search alliance means Yahoo can focus even more on our own innovative search experience," said Yahoo Chief Executive Officer Carol Bartz. "Yahoo gets to do what we do best: combine our science and technology with compelling content to build personally relevant online experiences for our users and customers." Microsoft CEO Steve Ballmer agreed with Bartz. "Although we are just at the beginning of this process, we have reached an exciting milestone," Ballmer said. "I believe that together, Microsoft and Yahoo will promote more choice, better value and greater innovation to our customers as well as to advertisers and publishers." Under terms of the agreement, which was announced in late July 2009, Microsoft will provide Yahoo with the same search result listings available through Bing, and Yahoo will add its content, enhanced listings with organized information about key topics, and tools to tailor the experience for Yahoo users. February 4, 2010 Yahoo Sells HotJobs for $225 Million Yahoo has sold its recruiting site HotJobs.com to Monster Worldwide for $225 million. Yahoo had purchased HotJobs in 2002 for $436 million. Monster and Yahoo have also entered into a three year commercial traffic agreement, to take effect upon the closing of the acquisition, in which Monster will become Yahoo's provider of career and job content on the Yahoo homepage in the United States and Canada. The traffic agreement calls for performance based annual payments calculated by clicks and expressions of interest, subject to annual floors and ceilings. In addition, the traffic agreement provides Monster with an exclusive right for a period of time following the closing of the acquisition to negotiate similar traffic agreements with Yahoo properties on a global basis, including countries in Europe, Asia and Latin America, subject to certain limitations. "HotJobs with its significant customer base plus the traffic agreement are an ideal complement to Monster's innovative recruitment solutions and global reach," said Sal Iannuzzi, chairman, chief executive officer and president of Monster Worldwide. "These agreements, combined with Monster's career Communities and our recently introduced 6Sense semantic search technology, will bring substantial new benefits for employers seeking more qualified candidates and job seekers searching for more relevant opportunities across a wider range of industries - globally." "Bringing together Monster and HotJobs creates even greater access and opportunities for both recruiters and job seekers," said Hilary Schneider, EVP, Yahoo. "The transaction with Monster enables us to continue to provide an important service to our users through the traffic agreement. Yahoo remains focused on its core businesses and delivering exceptional experiences to users, partners and advertisers." |
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