Rise and Fall of Yahoo 百科知识
CNN 10 January 11, 2017
The Rise and Fall of Yahoo Internet Company
A company that was once the Internet`s "king of the hill" is now set to be sold for a fraction of its former value if the sale actually goes through. We`re talking about Yahoo. It`s in the process of being sold to communications company Verizon.
If and when the sale is complete, Yahoo just announced that its CEO plans to resign from her job. The company`s cofounder is stepping down. Some other executives are leaving. And they plan to change Yahoo`s name to Altaba.
There`s still doubt about the Verizon deal, though, in large part because last month, Yahoo announced it had been hacked back in 2013 when was likely the biggest Internet hack ever. Another major setback for a once dominant company.
SAMUEL BURKE, CNN TECH CORRESPONDENT (voice-over):
At its peak, Yahoo is more than $100 billion. Now, Verizon is buying it for just $4.8 billion.
For Yahoo, it`s been 16 years of missteps and mistakes.
Here`s a brief story of the website`s rise and fall.
Founded by Jerry Yang and David Filo, the website Yahoo.com was launched in January 1995 and the company was incorporated in March. Yahoo started as a pordo (ph) or an index to the new and growing World Wide Web.
When the company went public in 1996, founders Yang and Filo became instant billionaires. By 1997, Yahoo was the second most popular website on the Internet, behind only AOL.
The dotcom bursts was the beginning of the end for Yahoo. Stock dropped from $118.75 to just $4.06.
In hindsight, it appears so obvious. The internet-mania was a giant bubble. Yahoo is the most visited on the Internet, but it`s not number one when it comes to search. That`s Google. About two-thirds of all Internet searches take place on Google. It`s the most money ever offered for an internet company, $44 billion.
Yahoo`s board rejects a bid from Microsoft, saying the proposal substantially undervalues Yahoo. But the company was never worth that much again.
Four CEOs in just six years didn`t help investor confidence in the brand either. Finally, former Google executive Marissa Mayer was hired to transform Yahoo.
MARISSA MAYER, YAHOO CEO:
For me, it`s God, family and Yahoo.
Mayer`s early efforts focused on making Yahoo cool again. Yahoo invested heavily in mobile, acquired popular social sites and updated Yahoo`s look.
Perhaps the one bright light at Yahoo was its 32 percent stake in Chinese retail giant Alibaba. Mayer tried to sell the stake in 2015 but it never happened.
It`s been a long, painful fall for the once mighty Yahoo.
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