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Entries in Yahoo (16)

Sunday
May192013

Yahoo to Buy Tumblr for $1.1 Billion

David Paul Morris/Bloomberg via Getty Images(SAN FRANCISCO) -- On Sunday, Yahoo’s board of directors approved the purchase of the social networking and blog site Tumblr for $1.1 billion, according to The Wall Street Journal.

Speculation that Yahoo would purchase Tumblr has been building for a while now, after Adweek reported that unnamed sources were expecting a deal. On Friday, Yahoo announced a press event on Monday in New York, Tumblr’s home town.

Under CEO Marissa Mayer’s leadership, Yahoo has purchased several startups as part of the company's efforts to reach a younger, more mobile audience. Tumblr, which is very popular with teens and young adults, is the largest and highest-profile purchase so far.

Tumblr’s founder and Chief Executive David Karp has said in the past that he does not care if Tumblr makes money, and last year the site generated $13 million in revenue – far short of the $1.1 billion Yahoo is reported to be paying for it.

Tumblr does have an expansive and growing user base, with 117 million unique users world-wide as of March of this year.

There has been no official word that Tumblr’s board has also approved the deal, The Wall Street Journal notes.

Yahoo stock dipped 0.23 percent, to $26.52, in trading Friday when the press event was announced.

Copyright 2013 ABC News Radio

Tuesday
Feb262013

Yahoo CEO's New Work Order Hits Home

Paul Zimmerman/Getty Images for TechCrunch/AOL(NEW YORK) -- Yahoo employees who are used to working from home will have to get used to working in the office again.

CEO Marissa Mayer has issued an edict that the days of telecommuting are over as she tries to restore the search engine back to its former glory.

The message from Yahoo's human resources said, "To become the absolute best place to work, communication and collaboration will be important, so we need to be working side-by-side.  That is why it is critical that we are all present in our offices."

There are an estimated 11,500 full-time Yahoo employees currently working from home who must comply with Mayer's orders.  In some cases, they'll either have to relocate to get closer to Yahoo offices or else look for another job.

Mayer isn't letting the occasional telecommuter off the hook either as the memo from HR states: "[F]or the rest of us who occasionally have to stay home for the cable guy, please use your best judgment in the spirit of collaboration."

A former Google executive who was hired last summer to turn around Yahoo's fortunes, Mayer came with a sterling track record and a technical background that includes a master’s degree in computer science from Stanford.  Her immediate task was downsizing 2,000 jobs to save the company an estimated $375 million.

Copyright 2013 ABC News Radio

Wednesday
Feb202013

Yahoo Homepage Redesign Gets Personal

Daniel Acker/Bloomberg via Getty Images(NEW YORK) -- A made-over Yahoo homepage debuted on Wednesday, providing users with a more tailored social experience in the hopes that they’ll linger on the site.

Yahoo’s first redesign in four years was all about hitting users’ “interests and preferences,” CEO Marissa Mayer said in a blog post.

The revamped homepage includes a customizable newsfeed with an infinite scroll, much like Twitter.  Users can make their experience more social by logging in with their Yahoo or Facebook ID, which will serve content shared by friends.

Apps on the page can be tailored to provide stock quotes, sports scores, local weather, Flickr photos and a reminder when it is a friend’s birthday.

The new look will be gradually rolled out over the U.S. in the next few days and will provide a more consistent experience for visitors, whether they’re accessing the site via their computer, smartphone or tablet, the company said.

Yahoo attracted 392 million worldwide visitors last month, according to comScore Inc., making it one of the most popular destinations on the web.  The company said it hopes the renovated homepage will encourage their sizable audience to stick around and engage with the site.

Yahoo has a content sharing agreement with ABC News.

Copyright 2013 ABC News Radio

Tuesday
Jan012013

Stocks to Watch in 2013

Comstock/Thinkstock(NEW YORK) -- It's that time of year, when we all want to know what stocks we should be buying in the coming year, or thinking about buying, or steering very, very clear of. So here are seven of the biggest stocks worth keeping your eyes on.

1. Google: Not surprisingly, the top stock pick on almost every analyst's list is—you guessed it—Google. "It's a great company," Paul Larson, chief equity strategist at Morningstar, in Chicago, IL, told ABC News. "Not only do they have the best search algorithm, but they also benefit from a network effect with their ad platform. The more users on the platform, consumer and business, the better the platform becomes. They also have a rapid growth in other businesses, such as You Tube. It's just a fantastic business."

2. Kraft: Never mind that it split from its global snack business earlier this year; it still has large competitive advantages. Its portfolio includes: Kraft, Oscar Mayer, and Maxwell House, each of which generate more than $1 billion in annual sales. That doesn't include another 20-odd brands that produce more than $100 million in sales each year, and "substantial economies of scale in the North American market, with more than $19 billion in annual sales," Morningstar senior analyst Erin Lash said. "We think the market is overlooking the substantial cash flows that Kraft's grocery business generates--which we forecast at 10% of sales on average--and income investors likely will find Kraft appetizing as the firm's top priority for cash is to fund a highly competitive dividend."

3. Amazon: The Seattle, Washington-based corporation has been operating at a competitive advantage for a while. Makes sense: The company has a very strong brand name; it's one of the first places people go when they want to shop online. Plus, "They have a cost advantage from their robust distribution in that they can get time to customers cheaper than their competitors can," said Larson.

4. Yahoo: With a new CEO at the helm and a recent acquisition, all eyes have been looking to Yahoo to see what it does. "It's a dark horse that has been beaten up, but we see a lot of potential in it," said Larson.

5. Apple: With the demise of Steve Jobs, it's safe to say that Apple doesn't have the same panache it once did. But that doesn't mean it's not one of the most successful companies out there. "We think Apple continues to represent one of the best investments in technology," said Rob Cihra, tech analyst at Evercore Partners, in New York. "Apple is effectively creating its own growth by creating unique and beautiful products that consumers really want to buy, staying ahead of mostly me-too competition. They're the ones pioneering every new direction, and while there's a lot of competition, the competition seems to be following Apple's lead while Apple is consistently out front."

6. Facebook: Despite its troubles after its initial public offering, "Facebook is a fantastic business," said Larson. "They have very high profit margins, very high returns on capital. They have a billion users worldwide and half are using it on a daily basis." And, he adds, the platform has a network effect: That is, you use it because your friends do, and they use it because that's where you are.

7. IBM: At 101 years old, IBM has long been in a leadership position. And over the last ten to fifteen years the company has done an "excellent job of transforming themselves from a hardware company into really high value software and services company, to the point that it's the only game in town for a lot of what it does," said Cihra. "They are typically the best at what they do."

Copyright 2013 ABC News Radio

Monday
Oct292012

Yahoo Buys Justin Bieber-Backed Start-Up

Daniel Acker/Bloomberg via Getty Images(NEW YORK) -- New Yahoo CEO Marissa Mayer has given a Justin Bieber-backed company her stamp of approval.  In fact, Mayer liked it so much, she bought it -- her very first acquisition since taking the reins in July.

Yahoo purchased the mobile app Stamped, which was founded in 2011 and is based in New York, for about $10 million.

The purchase vibes with Mayer’s stated goal during the company’s third-quarter earnings call of becoming “a predominantly mobile company.”

“At some point at least half our technical workforce should be working on mobile,” she said.

Mayer verified the acquisition on Twitter with an Instagram photo from Stamped headquarters.

“Got to visit our new acquisition, Stamped, this morning — happy to be reunited with Robby (@rmstein) and his team,” Mayer tweeted last week.

Stamped -- which is backed by a gaggle of celebrity investors, including Ellen DeGeneres, Ryan Seacrest and Justin Bieber, along with Bain Capital Ventures, Columbia Records, Google Ventures, and The New York Times Company -- lets users keep track of and recommend things like restaurants, books and music to friends online.  Its app was first launched last November.

In a statement about the acquisition, Adam Cahan, Yahoo’s senior vice president of emerging products and technology, noted that mobile is becoming one of the company’s “most important priorities” and that it is “accelerating our efforts to build a world-class team of mobile engineers, product managers and designers.”

Stamped founders said that the start-up will be creating “a new product and engineering office for Yahoo in New York City’s Bryant Park,” but declined to specify what it is.

Stamped’s iPhone and web app will both be discontinued by the end of the year.

ABC News has a content-sharing partnership with Yahoo.

Copyright 2012 ABC News Radio

Friday
Jul202012

New Yahoo CEO Marissa Mayer Is Really in the Money

Paul Zimmerman/Getty Images for TechCrunch/AOL(NEW YORK) -- That sound you hear of someone yelling "Yahoo!" comes from none other than its new chief executive, former Google big-wig Marissa Mayer.

The struggling Internet company announced earlier this week that the 37-year-old, who is also due to give birth to her first child in October, was named as its fifth CEO in five years.

On Thursday, Yahoo released some details of what Mayer will be receiving to help turn around its fortunes and by the looks of things, she did better than okay for herself.

The package over five years could reach as high as $100 million in compensation, stock, bonuses and retention awards.

Over the course of the next five-plus months, Mayer will earn $5.4 million and then collect an estimated $20 million annually, some of which will be tied to her satisfying performance targets.

Mayer's stock units are figured at $14 million to help make up for some of the lost compensation from Google, where she worked for 13 years after becoming the search engine's 20th employee.

Yahoo still gets about 700 million visitors per month to its various sites but has suffered losses over the years that necessitated laying off 2,000 employees during 2012.  It's believed that one of Mayer's goals is to help Yahoo develop innovative Web services.

Copyright 2012 ABC News Radio

Monday
Jul162012

Google Executive Named Yahoo CEO

Paul Zimmerman/Getty Images for TechCrunch/AOL(NEW YORK) -- Yahoo has had an unlucky executive streak lately, but that may be coming to an end. Marissa Mayer, one of Google's top executives, will join Yahoo as its new CEO, the company confirmed Monday.

"I am honored and delighted to lead Yahoo!, one of the Internet's premier destinations for more than 700 million users," Mayer said in a statement. "I look forward to working with the Company's dedicated employees to bring innovative products, content, and personalized experiences to users and advertisers all around the world."

Mayer joined Google in 1999 and was one of its first engineers. She leaves Google as its vice president of location and local services. She has been named as one of the most powerful women in technology time and again.

Yahoo has struggled to find a standing CEO since Scott Thompson left in May after admitting that his official biography included a college degree he never earned. Thompson was the third to assume the leadership position since 2011, when Carol Bartz resigned after failing to revive the company.

Mayer, 37, has worked on Google's search homepage, Gmail, and other successful Google products.

Mayer resigned Monday from Google. She will begin Tuesday as Yahoo's CEO.

Copyright 2012 ABC News Radio

Monday
Jul022012

Lawsuit: Gmail, Yahoo Email Invade Privacy, Even Non-Users'

iStockphoto/Thinkstock(NEW YORK) -- By now most of us have accepted a fact of the digital age: If, say, we write the word "eyeglasses" in the body of an email, advertisements for LensCrafters and Armani specs will most likely pop up on our computer screens soon.  We may not like it, but we understand that we trade privacy for the convenience of modern technology.

But some California residents have decided to take a stand against it, and have filed two class action lawsuits against Google and Yahoo in Marin County Superior Court.  The suits, filed on June 12 and June 28, claim that the web giants illegally intercept emails sent from individual non-Gmail and non-Yahoo subscribers to individual Gmail and Yahoo subscribers, without their knowledge, consent or permission.  What's more, they say the interception takes place before the email reaches its intended target.

"We began the investigation quite some time ago when a client came to us," said F. Jerome Tapley, a lawyer in Birmingham, Ala., who represents the plaintiffs.  "They noticed that the ads within their email browser were strangely correlating to the incoming email they were getting from their friends.  It creeps people out."

In the suit, Stuart Diamond, of Marin County; David Sutton, also of Marin County; and Roland Williams of Sonoma County -- none of whom have personal Google or Yahoo email accounts, but have sent emails to people who do -- allege that Google and Yahoo are violating the California Invasion of Privacy Act (CIPA), which prohibits anyone from wiretapping or eavesdropping on emails without the consent, knowledge and permission of all parties.

"The invasion of privacy by wiretapping or, in the alternative, eavesdropping, caused by Google and Yahoo's! continual and pervasive use of such devices seriously threatens the exercise of personal liberties," the lawyers write.

The suit, which is for unspecified financial damages, was filed on behalf of all residents of California who are not Google or Yahoo email subscribers but have sent emails to people who are. 

Yahoo did not respond to requests for comment, but in an email statement, a Google spokesperson said, "We're not going to comment on the ongoing litigation.  But to be clear, ad targeting in Gmail is fully automated, and no humans read users' emails or Google account information in order to show advertisements."

Copyright 2012 ABC News Radio

Monday
May212012

Yahoo Selling Half of Its Stake in Alibaba for $7.1 Billion

Daniel Acker/Bloomberg via Getty Images(NEW YORK) -- In a decision that may satisfy its shareholders, Yahoo has reached an agreement with Alibaba to sell half of its stake in the Chinese e-commerce group for over $7 billion.

Under the move, Yahoo would receive $6.3 billion in cash and up to $800 million in Alibaba preferred stock.

The deal will enable Yahoo to return cash to unhappy shareholders who have been angered by the sharp drop in their shares.

"Today's agreement provides clarity for our shareholders on a substantial component of Yahoo!'s value and reaffirms the significance of our relationship with Alibaba," Yahoo Interim CEO Ross Levinsohn said in a statement Sunday.  "We look forward to continued collaboration with the Alibaba team on business initiatives as we explore joint opportunities for growth and benefit from Alibaba's future.

Copyright 2012 ABC News Radio

Tuesday
Mar132012

Yahoo Sues Facebook for Patent Infrigement

Daniel Acker/Bloomberg via Getty Images(NEW YORK) -- Yahoo is going after Facebook, claiming that the social media giant infringed on 10 of its patents.

Filed on Monday, the patent infringement lawsuit claims that Facebook violated Yahoo patents covering ads, privacy and social networking, among others.

In an emailed statement, as quoted by The Los Angeles Times, a Yahoo spokesman said: "Yahoo has invested substantial resources in research and development through the years, which has resulted in numerous patented inventions of technology that other companies have licensed.  Unfortunately, the matter with Facebook remains unresolved, and we are compelled to seek redress in federal court."

And the timing of the lawsuit may not come as a surprise.  As Engadget Senior Associate Editor Michael Gorman explains, Facebook's impending IPO probably has a lot to do with it.

"Patent lawsuits are big right now and you can get a lot of money whether its through a settlement, licensing agreements, or by winning in court," he says.

Copyright 2012 ABC News Radio







ABC News Radio