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Posts Tagged ‘Marissa Mayer’

original yahoo

Did you know that Yahoo is an acronym for Yet Another Hierarchical Officious Oracle?  Most people just think of it as a search engine, an unsophisticated person, or both.

Yahoo!, the search engine, was founded in January 1994 by Stanford PhD candidates, David Filo and Jerry Yang.  It was originally called “Jerry and Dave’s Guide to the World Wide Web” and it  consisted of a directory of other websites.  The “yahoo.com” domain was created on January 18, 1995 and the company was incorporated on March 1, 1995.

john-briggs

In October 1995, one of my fellow product marketing managers at Lotus Development – John Briggs – left Lotus to join the founding team.  In John’s words, “then The Great Event happened. IBM bought Lotus and bought out my stock options. From then on, I was pretty much in job search mode while eagerly awaiting my bonus retention check”.  While at Yahoo!, he launched Yahoo News, Weather, Sports and Finance .  John also headed up their e-commerce unit (Yahoo Shopping, Auctions, Classifieds & Yellow Pages), and eventually became a VP & GM. He stayed until October 2002 and had quite a ride that included the IPO.

Yahoo! went public in April 1996 as YHOO.  The stock started $24.50 per share and hit a high of $43 before closing at $33.  It was the most closely watched IPO since Netscape Communications went public in December 1995.

With the influx of cash from the IPO, Yahoo began acquiring other companies.  Yahoo!’s first acquisition was the purchase of Net Controls, a web search engine company, in September 1997 for US$1.4 million. The acquisitions continued as Yahoo! competed against other companies and grew in company size and viewership.  As of May 2013, Yahoo! has acquired a total of 78 companies.

In February 2008, Yahoo! escaped becoming acquired, but not without some damage to the company.  Microsoft made an unsolicited bid to acquire Yahoo! for USD $44.6 billion. Yahoo! formally rejected the bid, claiming that it “substantially undervalues” the company and was not in the interest of its shareholders. Three years later, Yahoo! had a market capitalization of USD $22.24 billion.

Today, Yahoo! Inc. is a multinational Internet corporation headquartered in Sunnyvale, California.  Many of the original employees and executives have moved on to other adventures.  In July 2012, On July 16, 2012, Marissa Mayer, a former Google exec, was appointed President and CEO of Yahoo!.  The company has 11,500 employees in 25 countries, provinces, and territories.

— Carole Gunst

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