Going Like Sixty
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One of the best brands on the web, the one with the most memorable name, Yahoo.com, may be on the verge of extinction. Back in February, Yahoo had already layed off about 1,000 people, but now there are reports that they may lay off over 1,000 more people. Yahoo has been on the market to be purchased for months. Yahoo had the search market and the portal market cornered until an upstart called Google came along and shoved them aside. Call it Karma, if you like. As it almost always happens in business, Yahoo first became popular by shoving aside AOL.com.  While many smaller Silicon Valley companies have turned to staff cuts to weather the economic downturn, Yahoo is the first marquee name to follow suit. Since rejecting Microsoft’s $47.5 billion acquisition offer earlier this year, it’s been battling to make up for consistently low revenue and growth, and to keep pace with frontrunners Google, MySpace and Facebook.
(venturebeat)References: venturebeat Filed In: |
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