Yahoo
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Yahoo (Template:IPAc-en, styled yahoo! in its logo)<ref>Template:YouTube</ref> is an American web portal that provides the search engine Yahoo Search and related services including My Yahoo, Yahoo Mail, Yahoo News, Yahoo Finance, Yahoo Sports, y!entertainment, yahoo!life,<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> and its advertising platform, Yahoo Native. It is operated by the namesake company Yahoo! Inc., which is 90% owned by Apollo Global Management and 10% by Verizon.
Yahoo was established by Jerry Yang and David Filo in January 1994 and was one of the pioneers of the early Internet era in the 1990s.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> However, its use declined in the 2010s as some of its services were discontinued, and it lost market share to Facebook and Google.<ref name="telegraph.co.uk">Template:Cite news</ref><ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>
EtymologyEdit
The word "yahoo" is a backronym for "Yet Another Hierarchically Organized Oracle"<ref>Template:Cite news</ref> or "Yet Another Hierarchical Officious Oracle".<ref>Template:Cite news</ref> The term "hierarchical" described how the Yahoo database was arranged in layers of subcategories. The term "oracle" was intended to mean "source of truth and wisdom", and the term "officious", rather than being related to the word's normal meaning, described the many office workers who would use the Yahoo database while surfing from work.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> However, founders Filo and Yang insist they mainly selected the name because they liked the slang definition of a "yahoo" (used by college students in David Filo's native Louisiana in the late 1980s and early 1990s to refer to an unsophisticated, rural Southerner): "rude, unsophisticated, uncouth."<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> This meaning derives from the Yahoo race of fictional beings from Gulliver's Travels.
HistoryEdit
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FoundingEdit
In January 1994, Jerry Yang and David Filo were electrical engineering graduate students at Stanford University, when they created a website named "Jerry and David's guide to the World Wide Web".<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref><ref name="How Jerry">Template:Cite news</ref><ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref><ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> The site was a human-edited web directory, organized in a hierarchy, as opposed to a searchable index of pages. In March 1994, "Jerry and David's Guide to the World Wide Web" was renamed "Yahoo!" and became known as the Yahoo Directory.<ref name="How Jerry" /><ref>Template:Cite book</ref><ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref><ref name="Directory">The Yahoo Directory — Once The Internet's Most Important Search Engine — Is To Close Template:Webarchive September 26, 2014, retrieved on June 3, 2017</ref><ref>Yahoo schließt seinen Katalog Template:Webarchive from golem.de, September 27, 2014, retrieved on June 3, 2017</ref> The "yahoo.com" domain was registered on January 18, 1995.<ref>Template:Cite news</ref>
Yahoo was incorporated on March 2, 1995. In 1995, a search engine function, called Yahoo Search, was introduced. This allowed users to search Yahoo Directory.<ref>Template:Cite book</ref><ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> Yahoo soon became the first popular online directory and search engine on the World Wide Web.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>
ExpansionEdit
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Yahoo grew rapidly throughout the 1990s. Yahoo became a public company via an initial public offering in April 1996 and its stock price rose 600% within two years.<ref name="auto">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> Like many search engines and web directories, Yahoo added a web portal, putting it in competition with services including Excite, Lycos, and America Online.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> By 1998, Yahoo was the most popular starting point for web users,<ref>Template:Cite news</ref> and the human-edited Yahoo Directory the most popular search engine,<ref name="Directory"/> receiving 95 million page views per day, triple that of rival Excite.<ref name="auto"/> It also made many high-profile acquisitions. Yahoo began offering free e-mail from October 1997 after the acquisition of RocketMail, which was then renamed to Yahoo Mail.<ref>Template:Cite press release</ref> In 1998, Yahoo replaced AltaVista as the crawler-based search engine underlying the Directory with Inktomi.<ref>Template:Cite news</ref> Yahoo's two biggest acquisitions were made in 1999: Geocities for $3.6 billion<ref name=buysgeo>Template:Cite news</ref> and Broadcast.com for $5.7 billion.<ref>Template:Cite news</ref>
Its stock price skyrocketed during the dot-com bubble, closing at an all-time high of $118.75/share on January 3, 2000. However, after the dot-com bubble burst, it reached a post-bubble low of $8.11 on September 26, 2001.<ref>Template:Cite book</ref>
Yahoo began using Google for search in June 2000.<ref>Template:Cite news</ref><ref>Template:Cite press release</ref> Over the next four years, it developed its own search technologies, which it began using in 2004 partly using technology from its $280 million acquisition of Inktomi in 2002.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> In response to Google's Gmail, Yahoo began to offer unlimited email storage in 2007. In 2008, the company laid off hundreds of people as it struggled from competition.<ref>Template:Cite news</ref>
In February 2008, Microsoft made an unsolicited bid to acquire Yahoo for $44.6 billion.<ref>Template:Cite news</ref><ref name="Yahoo!-Inc-Feb-2008-425">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> Yahoo rejected the bid, claiming that it "substantially undervalues" the company and was not in the interest of its shareholders. Although Microsoft increased its bid to $47 billion, Yahoo insisted on another 10%+ increase to the offer and Microsoft cancelled the offer in May 2008.<ref>Template:Cite news</ref><ref name="Yahoo!-Inc-May-2008-8-K">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref><ref name="Yahoo!-Inc-Jun-2008-8-K">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref><ref>Template:Cite news</ref>
Carol Bartz, who had no previous experience in Internet advertising, replaced Yang as CEO in January 2009.<ref name="Yahoo!-Inc-Jan-2009-8-K">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref><ref>Template:Cite news</ref> In September 2011, after failing to meet targets, she was fired by chairman Roy J. Bostock; CFO Tim Morse was named as Interim CEO of the company.<ref name="Yahoo!-Inc-Sep-2011-8-K">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref><ref>Template:Cite news</ref>
In April 2012, after the appointment of Scott Thompson as CEO, several key executives resigned, including chief product officer Blake Irving.<ref name="Yahoo!-Inc-Apr-2012-10-K/A">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref><ref>Template:Cite news</ref> On April 4, 2012, Yahoo announced 2,000 layoffs,<ref name="Yahoo!-Inc-Apr-2012-8-K">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> or about 14% of its 14,100 workers by the end of year, expected to save around $375 million annually.<ref>Template:Cite news</ref> In an email sent to employees in April 2012, Thompson reiterated his view that customers should come first at Yahoo. He also completely reorganized the company.<ref name="Swisher">Template:Cite news</ref>
On May 13, 2012, Thompson was fired and was replaced on an interim basis by Ross Levinsohn, recently appointed head of Yahoo's new Media group. Several associates of Third Point Management, including Daniel S. Loeb were nominated to the board of directors.<ref name="Yahoo!-Inc-May-2012-8-K">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref><ref name="Swisher" /><ref>Template:Cite press release</ref><ref>Template:Cite news</ref> Thompson's total compensation for his 130-day tenure with Yahoo was at least $7.3 million.<ref name="CNN ousted">Template:Cite news</ref>
On July 15, 2012, Marissa Mayer was appointed president and CEO of Yahoo, effective July 17, 2012.<ref name="Yahoo!-Inc-Jul-2012-8-K">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref><ref>Matt McGee, Search Engine Land. "Confirmed: Marissa Mayer Leaving Google For Yahoo CEO Role Template:Webarchive." July 16, 2012 . Retrieved March 27, 2017.</ref>
In June 2013, Yahoo acquired blogging site Tumblr for $1.1 billion in cash, with Tumblr's CEO and founder David Karp continuing to run the site.<ref name="Yahoo!-Inc-Jun-2013-8-K">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref><ref name="Yahoo!-Inc-May-2013-8-K">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref><ref>Template:Cite news</ref><ref>Template:Cite news</ref> In July 2013, Yahoo announced plans to open an office in San Francisco.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>
On August 2, 2013, Yahoo acquired Rockmelt; its staff was retained, but all of its existing products were terminated.<ref name="tc-rockmelt">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>
Data collated by comScore during July 2013 revealed that, during the month, more people in the U.S. visited Yahoo websites than Google; the first time that Yahoo outperformed Google since 2011.<ref>Template:Cite news</ref> The data did not count mobile usage, nor Tumblr.<ref>Template:Cite news</ref>
Mayer also hired Katie Couric to be the anchor of a new online news operation and started an online food magazine. However, by January 2014, doubts about Mayer's progress emerged when Mayer fired her own first major hire, Henrique de Castro.<ref>Template:Cite news</ref>
On December 12, 2014, Yahoo acquired video advertising provider BrightRoll for $583 million.<ref name="Yahoo!-Inc-Feb-2015-10-K">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>
On November 21, 2014, Yahoo acquired Cooliris.<ref>By TechCrunch "[1] Template:Webarchive."</ref>
In August 2023, it was announced Yahoo had acquired the San Francisco-headquartered social investing platform, Commonstock.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>
In April 2024, it was announced Yahoo had acquired the AI-driven news aggregator app, Artifact.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>
Decline, security breaches, and saleEdit
{{#invoke:Labelled list hatnote|labelledList|Main article|Main articles|Main page|Main pages}} By December 2015, Mayer was criticized as performance declined.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref><ref>Template:Cite news</ref><ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref><ref>Template:Cite news</ref> Mayer was ranked as the least likable CEO in tech.<ref>Template:Cite news</ref><ref>Template:Cite news</ref>
On February 2, 2016, Mayer announced layoffs amounting to 15% of the Yahoo workforce.<ref>Template:Cite news</ref>
On July 25, 2016, Verizon Communications announced the acquisition of Yahoo's core Internet business for $4.83 billion.<ref name="Yahoo!-Inc-Jul-2016-8-K">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref><ref>Template:Cite news</ref><ref>Template:Cite news</ref><ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> The deal excluded Yahoo's 15% stake in Alibaba Group and 35.5% stake in Yahoo Japan.<ref name="Yahoo!-Inc-Aug-2016-DEFA14A">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref><ref name="Yahoo!-Inc-Jul-2016-2-8-K">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>
On February 21, 2017, as a result of the Yahoo data breaches, Verizon lowered its purchase price for Yahoo by $350 million and reached an agreement to share liabilities regarding the data breaches.<ref name="bloomberg-lower">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref><ref name="usatoday-verizonshaved">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>
On June 13, 2017, Verizon completed the acquisition of Yahoo and Marissa Mayer resigned.<ref name=":0">Template:Cite news</ref><ref>Template:Cite news</ref>
Yahoo, AOL, and HuffPost were to continue operating under their own names, under the umbrella of a new company, Oath Inc., later called Verizon Media.<ref name="Yahoo!-Inc-Jul-2017-8-K">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref><ref name="verge-oath">Template:Cite news</ref>
The parts of the original Yahoo! Inc. which were not purchased by Verizon Communications were renamed Altaba, which was later liquidated, making a final distribution in October 2020.<ref>Template:Cite press release</ref>
In September 2021, investment funds managed by Apollo Global Management acquired 90% of Yahoo.<ref name=owneragain>Template:Cite news</ref><ref>Template:Cite press release</ref>
In November 2021, Yahoo announced that it was ending operations in mainland China due to the increasingly challenging business and legal environment.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> Previously, the company discontinued China Yahoo Mail on August 20, 2013.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>
In 2023, Yahoo announced that it would cut 20% of its workforce. The move followed mass layoffs from other tech giants including Google, Microsoft, Twitter, Inc, Meta, and Amazon. The company is set to lay off roughly 1,000 staff members of their 8,600 workers.<ref name="auto1">Template:Cite news</ref>
Products and servicesEdit
For a list of all current and defunct services offered by Yahoo, see List of Yahoo-owned sites and services.
Data breachesEdit
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On September 22, 2016, Yahoo disclosed a data breach that occurred in late 2014, in which information associated with at least 500 million user accounts,<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref><ref>Template:Cite news</ref> one of the largest breaches reported to date.<ref>Template:Cite news</ref> The United States indicted four men, including two employees of Russia's Federal Security Service (FSB), for their involvement in the hack.<ref>Template:Cite news</ref><ref>Template:Cite news</ref> On December 14, 2016, the company revealed that another separate data breach had occurred in 2014, with hackers obtaining sensitive account information, including security questions, to at least one billion accounts.<ref>Template:Cite news</ref> The company stated that hackers had utilized stolen internal software to forge HTTP cookies.<ref>Template:Cite news</ref><ref>Template:Cite news</ref>
On October 3, 2017, the company stated that all 3 billion of its user accounts were affected by the August 2013 theft.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref><ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref><ref>Template:Cite press release</ref><ref>Template:Cite news</ref><ref>Template:Cite news</ref>
CriticismEdit
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DMCA notice to whistleblowerEdit
On November 30, 2009, Yahoo was criticized by the Electronic Frontier Foundation for sending a DMCA notice to whistleblower website "Cryptome" for publicly posting details, prices, and procedures on obtaining private information pertaining to Yahoo's subscribers.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>
Censorship of private emails affiliated with Occupy Wall Street protestsEdit
After some concerns over censorship of private emails regarding a website affiliated with Occupy Wall Street protests were raised, Yahoo responded with an apology and explained it as an accident.<ref>Template:Cite news</ref><ref name="videosift.com">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref><ref name="straight.com">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>
Partners and sponsorshipsEdit
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On September 11, 2001, Yahoo announced its partnership with FIFA for the 2002 FIFA World Cup and 2006 FIFA World Cup tournaments. It was one of FIFA's 15 partners at the tournaments. The deal included co-branding the organization's websites.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>
Yahoo sponsored the 2012 Sundance Film Festival.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> NBC Sports Group aligned with Yahoo Sports the same year with content and program offerings on mobile and desktop platforms.<ref name="NBC">Template:Cite news</ref>
Yahoo announced television video partnerships in 2013 with Condé Nast,<ref name="Conde">Template:Cite news</ref> WWE, ABC NEWS, and CNBC.<ref name="2013partners">Template:Cite news</ref> Yahoo entered into a 10-year collaboration in 2014, as a founding partner of Levi's Stadium, home of the San Francisco 49ers.<ref name="Levi">Template:Cite news</ref>
The National Basketball Association partnered with Yahoo Sports to stream games, offer virtual and augmented-reality fan experiences, and in 2018 NBA League Pass.<ref name="NBA1">Template:Cite news</ref><ref name="NBA2">Template:Cite news</ref> Yahoo Sportsbook launched in November 2019, a collaboration with BetMGM.<ref name="sportsbook">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref><ref name="Digi">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>
BuzzFeed acquired HuffPost from Yahoo in November 2020, in a stock deal with Yahoo as a minority shareholder.<ref name="Buzz">Template:Cite news</ref><ref name="Buzz1">Template:Cite news</ref> The NFL partnered with Yahoo in 2020, to introduce a new "Watch Together" function on the Yahoo Sports app for interactive co-viewing through a synchronized livestream of local and primetime NFL games.<ref name="SBJ">Template:Cite news</ref> The Paley Center for Media collaborated with Verizon Media to exclusively stream programs on Yahoo platforms beginning in 2020.<ref name="Paley">Template:Cite news</ref>
Yahoo became the main sponsor for the Pramac Racing team and the first title sponsor for the 2021 ESport/MotoGP Championship season.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> Yahoo, the official partner for the September 2021 New York Fashion Week event also unveiled sponsorship for the Rebecca Minkoff collection via a NFT space.<ref name="NYFW">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> In September 2021, it was announced that Yahoo partnered with Shopify, connecting the e-commerce merchants on Yahoo Finance, AOL and elsewhere.<ref name="Shopify">Template:Cite news</ref>
See alsoEdit
ReferencesEdit
External linksEdit
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