Yahoo! , a popular search engine in competition with Google, has grown to a height where it does not compete anymore but focus on improving it product and satisfying it customers. Yahoo! Started back then in 1994 at Stanford University by two guys, Jerry Yang and David Filo who were graduate of Electrical Engineering.
It started first as an internet portal with a search program embedded to it. But now, it has numerous products such as; Yahoo! News, Yahoo! Answers, Tumblr, Flickr, and so many. The name Yahoo! means “Yet Another Hierarchical Organized Oracle”. The name came as a result of what the slang means. Filo and Yang chose the name themselves.
The growth of Yahoo! rapidly exploded in the same 1990s that it was founded. As the site grew in terms of numbers of users and links pointing to the site, they started selling advertisement space so that they could raise funds for growing the site. To get investors to invest in the company, Yahoo! went public in the stock exchange market in 1996.
Exactly March 8,1997, Yahoo! acquired Four11 web mail service, RocketMail which became Yahoo! Mail, a free web-based email service used for sending electronic messages. It is the third largest email service. Yahoo! also moved further to acquire ClassicGames.com which also became Yahoo! Game, an online gaming platform that allows it users to play game with themselves or another online user.
As if it was planned, March 8, 1998, Yahoo! launched an instant messaging service known as Yahoo! Pager which was later renamed to Yahoo! Messenger a year later. Yahoo! became very popular for web users by 1998 as it has made many acquisitions.
Yahoo Small Business Growth in 2000s.
In 2000, Yahoo! was using Google for searching web. But dropped it after four years when they have launch their own technology to provide search results. To compete with Google’s Mail, they increase their storage capacity from 4MB to 1GB. Yahoo! got most of it revenue from banner advertisements deals. They sold space on their web pages for advertisements to companies who want to display their products and services to Yahoo’s audience.
The acquisition of companies by Yahoo! did not stop in the 1990s. Yahoo! expanded it’s range of service by acquiring Web2.0 service. Then Yahoo! launched Yahoo! Music, a media online library providing music, news, videos and internet radio in February 2005. With Yahoo! Music, one can access to varieties of music and information concerning entertainment.
Yahoo! also went further to purchase Flickr, a very popular photo sharing site that allows it members to share, view and upload their pictures for free. Have you heard about Yahoo! 360°? It’s Yahoo! blogging and social networking site that was also launched the same month Flickr was purchased. Yahoo! updated Yahoo! Mail with a new version on August 27, 2007 by integrating Yahoo! Messenger to it.
Yahoo! went further in acquiring up to fourteen companies; kimo, sold.com, overture services, arthas.com, launch media, eGroups, Inktomi, Hotjobs, Farechase, Oddpost Inc, Music-Match, Jello, Beijing 3721 Technology Co. Ltd and the almighty Tumblr, a microblogging networking site that allows it users to post multimedia and any useful content. It’s popularly described as a ‘microblog’. Tumblr was officially acquired by Yahoo! on may 20, 2013.
As Yahoo! asset began to rise in cash and stock, Microsoft made an attempt to acquire Yahoo! for $44.6 billion in cash and stock. But Yahoo! declined the offer by saying Microsoft undervalued their brand. This happened on February 1, 2008. Yahoo! biggest competitors presently are; Google Inc, About Inc, Microsoft Inc, America Online and Inc.
Yahoo! Services, Product and Brands
Yahoo! has so many services and products that you will have to visit Wikipedia to get the full list. But I will only share the top 5 products and services of Yahoo!
This is an email service providing platform with a free and paid (for businesses) option. It allows it users to send and receive electronic messages with anyone in the world. It presently has more than 300 million users.
It is an instant messaging service competing with Google Talk, AOL Instant Messenger and others. It’s integrated with Yahoo! Mail.
This is a very popular community for questions and answers. It has a very large audience. It’s an information seeking platform. Yahoo! award with point to any user who ask or answer questions.
A financial information site that inform user’s about the stock market and other financial issues.
A second call for search engine after Google search engine.
Presently, Yahoo! Inc has offices in Canada, United States, Asia, Europe, Australia and Latin America.