Stagnant Internet giant buys popular young property
In the latest step of CEO Marissa Mayer's plan to turn around popular but stagnating Internet giant Yahoo, the company's board has reportedly approved a $1.1 billion acquisition of the social sharing site Tumblr. The board met on Sunday to discuss the acquisition, which appears to have been a foregone conclusion due to the fact that Yahoo had already scheduled a Monday event on Friday. The company is expected to announce the acquisition at that event.
Marissa Mayer exceeds performance goals, receives $1 million bonus
Yahoo chief Marissa Mayer has picked up $1.12 million bonus for meeting performance targets, reports Bloomberg. As Mayer only joined Yahoo in July of 2012 from Google, where she was one of its top executives, the payment was made on a pro-rata basis. Since joining Yahoo, Mayer has helped to drive its stock price up over 40 percent, while also helping Yahoo to its first sales increases in the past four years.
Five-person video chat company to join Yahoo's mobile group
Yahoo announced today that it had acquired OnTheAir, a five-person video chat startup company, in a deal meant to improve Yahoo's mobile communications capabilities. The financial terms of the deal were not disclosed, but Yahoo did say that OnTheAir's team would be integrated into Yahoo's mobile group. The acquisition is seen by some observers as part of a continuing effort on the part of Yahoo CEO Marissa Mayer to improve the company's ability to compete in the mobile sector.
Performance evaluations said to come, vacation cuts
Yahoo CEO Marissa Mayer appears to be tightening up operations as she plots a new course for one of the world's larger Internet companies. Reports hold that Mayer is cutting down on traditional holiday vacation hours and implementing a number of cost-cutting and efficiency-raising measures, including cutting up to 12,000 of the company's employees. Mayer has already eliminated the end-of-year "week of rest" for most employees, and the company is said to be developing a new performance evaluation regime aimed at identifying its least productive workers.
Goldman comes from Fortinet to Yahoo
Yahoo announced today that Ken Goldman would be joining the company as chief financial officer, effective October 22. Golman will be following departing CFO Tim Morse, who has been with the company since June 2009. In welcoming Goldman, Yahoo CEO Marissa Mayer praised his more than 30 years in financial planning and guidance, hailing him as an ideal choice "as we enter our next phase of growth."
Other choices include Galaxy S III, Lumia 920, HTC One X
According to emails collected by Business Insider, CEO Marissa Mayer has offered every Yahoo employee a new Apple, Samsung, Nokia, or HTC smartphone. The plan, called "Yahoo! Smart Phones, Smart Fun" is intended to provide employees with the same class of device that Yahoo users are using.
Second-screen app gets pushed up
Recently-appointed Yahoo CEO Marissa Mayer is said to have pushed up the development of Yahoo's IntoNow app to get the product out ahead of schedule. The move came as Yahoo fights slumping revenues and attempts to right itself and leverage its user base toward greater profits. As Advertising Age reports, the IntoNow decision was aimed at taking advantage of the product's capabilities during the Olympics, is one of the major early decisions on Mayer's part; and some observers believe it indicates that Yahoo's future will be more product-focused than ever before.
Represents loss of core member of Google
One Google's leading executives, Marissa Mayer, is leaving the company to become the next CEO of Yahoo, the New York Times reports. Mayer is said to have resigned from Google by telephone just this afternoon, despite starting with Yahoo on Tuesday. In an interview Mayer claims that she "had an amazing time at Google," but that it "was a reasonably easy decision" to jump to Yahoo, which she calls "one of the best brands on the Internet." The executive was first approached about a Yahoo job after returning from a trip to China in mid-June.
Google won't touch question of Apple map swap
Google's Location VP Marissa Mayer in an interview at the recently wrapped up TechCrunch Disrupt event skirted the question of Apple possibly dropping Google Maps. When asked what Google will do if iOS suddenly stops using its engine in favor of an in-house solution, Mayer sand she was "not going to speculate" as to future plans. She steered the question towards the importance of mobile as a whole and noted that mobile was due to overtake the desktop in the near future.