Yahoo (YHOO) announced last week plans to shutter its business in South Korea as a result of plans to restructure the company. The search engine on Tuesday officially began notifying employees of the closure and will be eliminating 200 jobs as a result, according to Reuters. Yahoo CEO Marissa Mayer previously said that the decision was part of the company’s efforts to streamline operations and focus its resources on building a stronger global business that’s capable of long-term growth and success.
Yahoo (YHOO) CEO Marissa Mayer has wasted no time in turning the Internet portal into a lean and mean Web machine since she landed the job in July. Next up on Mayer’s agenda after giving all Yahoo employees free iPhones and food is trimming all the bloat on the portal’s homepage. Business Insider claims the screenshot above is an authentic version for a redesigned Yahoo site. From what we can tell, the purported redesign doesn’t too change much, but dials back the purple coloring, cuts off all of the unnecessary categories in the left menu bar and opts for a dynamic search bar that remains at the top as users scroll down pages. More →
As we’ve noted previously, Yahoo (YHOO) CEO Marissa Mayer is not messing around when it comes to getting her new company up to speed with her former employer, Google (GOOG). And now, unnamed sources have told Business Insider that Mayer has delivered a new ultimatum for employees working on product pitches: Figure out a way to get it out the door in six months or don’t bother pitching it at all. What’s more, Yahoo will no longer consider investing in any project “if it doesn’t have a realistic shot of reaching 100 million users or generate $100 million toward the company’s top line.” More →
Yahoo’s (YHOO) decision to go with Microsoft’s (MSFT) Bing as its underlying search technology hasn’t exactly upended the search engine market, and now Google (GOOG) Chairman Eric Schmidt has publicly stated that he’s interested in breaking up the marriage between the two companies. Forbes reports that while speaking at an event to promote the Nexus 7 tablet in Japan on Monday, Schmidt said that he would love to have Yahoo switch to Google as its official search partner, years after the two companies called off talks to partner for search over fears that the government would file an antitrust suit against them. The idea of a Google-Yahoo partnership is particularly intriguing since former Google executive Marissa Mayer took over as Yahoo’s chief executive earlier this year. More →
Ever since taking over as CEO of Yahoo (YHOO), Marissa Mayer has used a series of carrots and sticks to boost employee morale at the company and to motivate employees to work longer and harder than they ever have. Mayer’s new program of giving everyone in the company a free smartphone falls squarely into the “carrot” category, although it could prove bittersweet for any Yahoo employees who still love devices manufactured by RIM (RIMM). As Business Insider reports, Mayer is giving employees a choice of receiving an iPhone 5, a Samsung Galaxy S III, an HTC One X, an HTC EVO 4G LTE, or a Nokia Lumia 920, but not a BlackBerry.
It should be pretty obvious by now that new Yahoo (YHOO) CEO Marissa Mayer is not messing around. An unnamed source has told Business Insider that Mayer has now taken control of the company’s hiring process and personally reads the resumes of every “serious candidate” to weed out anyone who doesn’t meet her exacting standards. More →
Yahoo (YHOO) employees had better enjoy the free iPhones and all the free food they’ll be getting at Yahoo company cafeterias because it seems they’re going to be working a lot of late nights. Business Insider reports that new Yahoo CEO Marissa Mayer is letting Yahoo employees know that they’re going to have to start putting in a lot more hours if they want to catch up with her former company Google (GOOG). More →
Despite the fact that she worked at Google (GOOG) for the past 13 years, Yahoo’s new CEO Marissa Mayer wants all her employee to use an iPhone. Mayer has been using Apple’s (AAPL) smartphone for years, even during her tenure at Google, and the executive has enjoyed the device so much that she is considering reaching into Yahoo’s (YHOO) cash reserves to purchase one for every employee. While handing out iPhones would likely boost employee morale, an anonymous source told Business Insider that Mayer is more interested in bringing “consistency across the company.” Rather than one platform, Yahoo employees currently use a variety of devices, including BlackBerry phones, iPhones and Android smartphones. For Mayer, the cost would be low — a couple million dollars at most — and the benefits would warrant the expense. More →
A recent filing with the United States Securities and Exchange Commission reveals that newly appointed Yahoo (YHOO) CEO Marissa Mayer will potentially earn $100 million over the next five years. The sum is undoubtedly huge, but the tasks that lie ahead for Yahoo’s new chief are daunting at best. Now that Mayer has taken the reins, the world — or, perhaps more accurately, Yahoo employees and investors — waits with bated breath to see what sweeping changes might come under Mayer’s rule. The answer, for the time being, is none. “Please do not stop. You are doing important work. Please don’t stop,” Mayer told Yahoos in a memo obtained by All Things D. “If you have questions or concerns about whether to continue or not, please ask. However, with the exception of a few things that might heavily constrain us in the future, the answer is most likely: ‘Yes, keep moving.’ ” The rest of the memo is linked below, just beyond an interstitial ad. More →
Yahoo on Tuesday reported its second quarter earnings, beating Wall Street’s earnings expectations of $0.23 per share on $1.096 billion in revenue. The firm posted earnings of $0.27 per share on sales that narrowly missed analysts’ consensus at $1.08 billion. Yahoo’s search revenue came in at $461 million, down 1% year-over-year, while display revenue was up 2% year-over-year to $535 million. Yahoo’s earnings come one day after the company announced that former Google executive Marissa Mayer was its new CEO and president. “In the second quarter, non-GAAP earnings per share exceeded consensus and both display and search revenue ex-TAC showed modest growth,” said Tim Morse, chief financial officer. “We also moved aggressively with new strategic agreements with Alibaba and Facebook and announced several new partnerships including CNBC, Clear Channel and Spotify.” Yahoo’s press release follows below. More →
($YHOO) Yahoo on Monday named Marissa Mayer the company’s new president and CEO. Mayer was one of the earliest employees with Google, joining the Internet giant in 1999 and becoming the company’s first woman engineer. “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.” Yahoo’s co-founder David Filo said, “Marissa is a well-known, visionary leader in user experience and product design and one of Silicon Valley’s most exciting strategists in technology development.” Mayer will begin her new job on July 17th. Yahoo’s press release follows below. More →
Security firm TrustedSec has found that more than 450,000 passwords have been exposed after a successful hack into Yahoo’s Voices website, the Guardian reports. Voices, formerly known as Associated Content before being purchased by Yahoo in 2010, is a news and analysis site that relies on user-generated content. The big problem with this particular hack, the Guardian says, is that “the passwords for the accounts were not encrypted — meaning that any hacker could scoop up the emails and immediately start using them against other services, including Yahoo Mail.” TrustedSec says the hack was executed using SQL injection attacks that are commonly used to hack into databases, and security expert Anders Nilsson has an analysis of the data that is linked below.
Update: Yahoo confirmed the breach and provided the following statement to TechCrunch: More →
Yahoo sued Facebook over patents; Facebook sued Yahoo over patents; Yahoo and Facebook worked it out. Long-time partners Facebook and Yahoo have come to an agreement to launch a new advertising partnership, extend existing distribution agreements and settle all patent claims each company has levied against the other. ”We are excited to develop a deeper partnership with Facebook, and I’m grateful to Sheryl and her team for working hard together with our team to develop this dynamic agreement. We are looking forward to building on the success we have already seen to provide innovative new products and experiences for both consumers and sponsors,” said interim Yahoo CEO Ross Levinsohn. “Combining the premium content and reach of Yahoo! as the world’s leading digital media company with Facebook provides branded advertisers with unmatched opportunity.” The full press release follows below. More →