Yahoo! All and Nothing
Yahoo! is on its last legs as an independent company since it was bought out by Verizon in 2016 for close to $5 billion. Attempts by Marissa Mayer, at the helm since 2012, have not paid off. And bringing in hotshot journalists like Katie Couric has done nothing to draw traffic to the site either.
The Failure :
In the past four years, Yahoo! has invested $2 billion in the acquisition of more than 50 startups, most now defunct. Yahoo! has tried it all: search engine, social media and e-commerce, but has taken the lead in none. Its biggest acquisition was Tumblr for $1 billion, aimed at building an audience for Yahoo! and boosting its advertising branch. Chalk up another failure.
Yahoo! has changed its mission over twenty times in as many years: mission impossible! We have never really understood what Yahoo! was trying to do, to be, to become, in short, where it was trying to go. And neither have its employees…
The Moral :
To Ms Mayer’s credit, Yahoo! was already sinking when she took over as CEO in 2012. Still, she was never able to develop a clear strategy or chart a guiding principle. By trying to be all things to all people and stepping on its competitor’s toes, the company spread itself too thin, spending more time copying others than building core strengths.
Image Source : Yahoo / AFP