Yahoo's Ugly Death
The name is synonymous with a time when all of our lives were simpler when facebook was an actual books full of students faces computers made weird sounds when the connected to the Internet and downloading a one minute long video can take all night. Eddie tight yet who was one of the four or five most popular websites in the world with billions of views, every month and evaluation well, over one hundred, billion dollars. But as the two thousands turned into twenty tens, the web changed massively and your who was faced with the difficult task of changing with it. Their web portal service model was going out of fashion. We all moved to g mail and Google Search, McCain the front page of the Internet. Despite the fact that ask Jeeves was obviously way better. Many of Yahoo's services remained relatively popular, but they were no longer trendsetting no longer growing and the company's market capitalization dropped to a fraction of what it once was any remnant of the mindshare or what we might refer to as v Cultural. Capital they once held fell off. So to those of us on the outside yeah, who's fall seemed utterly quiet gradual and most of all inevitable but was it really Forget what you think. You know at least for a moment and consider this from the peak of the DOT COM bubble. Some say the beginning of the end for Yahoo to two thousand, eight, their revenue increased tenfold that success was no fluke either as print publishers struggled with the incoming revolution of online advertising, Yahu was very much on top of it. They were positioned Willie enough that when Microsoft attempted to buy the company for forty, five, billion dollars in. Two Thousand and eight CO founder and CEO Jerry Yang swiftly rejected the offer it was over the following few years that things would start to ten at the company transitioned through five different CEOS in just four years, and in the meantime Google took over the Internet. This would seem like the end of the story except in two thousand and twelve yen made arguably the most significant tire in its history and new CEO who could finally get things going again. Marissa Mayer. was distant for such a role from the beginning. Some college students have hard time in the job market, but after completing her degree at Stanford, Marissa was offered fourteen different jobs including teaching Gig at Carnegie Mellon One of America's leading engineering schools and consulting role at Mackenzie. Arguably, the world's premier consulting for the Young Maria turned down both those offers to become the twentieth employees at a fledgling startup called Google. At Google, she was star in fact, there's hundred percent chance you've run into her work. She oversaw the design of Google's homepage. You know the one you use probably ten times a day she was also one of the three people behind Google Edwards. It's difficult to overstate the importance of Edwards to the Internet as a whole and to the company itself to give you some sense of it. Though, at one point Edwards provided ninety six percent of Google's entire revenue. In fact, you could argue that Edwards and by proxy Melissa Samaya was at least partly responsible for the fall of. yahoos revenue multiplied tenfold between two thousand and two thousand and eight in no small part because of their online advertising. But he declined even faster when Google they're smaller competitor designed a better wage, you connect advertisers with users based on search results. Edwards. So, by the principle that if you can't beat him, you should join him Yahoo in two thousand and twelve hired Marissa Mayer. It was bald and popular choice. The company's stock rose two percent. The day of the announcement Meyer instantly became an icon for women in an industry dominated by men. Then, she got to work changing the company culture. She opened an online portal for employee complaints a system whereby any office problem given sufficient votes by employees would be automatically investigated by management. She oversaw a personnel shift which brought remote employees back into the company's offices Fortune magazine put her in their forty under forty list and ranked her as the sixteenth most powerful businesswoman on the planet. In short things were finally looking up for Ya. At least from the outside on the inside, however, the really really inside a very different story was about to be reading.