Faced with sagging ad sales, Yahoo has decided to keep trying to same failing strategy: gobbling up fledgling startups to reinvigorate the aging behemoth. An activist investor already slammed this approach as a money-burning fuck up. But CEO Marissa Mayer is undeterred. She plans to squander profits from Yahoo's stake in Alibaba on more youthful startups.
Earlier today, the Wall Street Journal broke the news that Yahoo, the corporate equivalent of Remember the 90's is "close" to investing in Snapchat, the fratty harbinger of our ephemeral future, at a $10 billion valuation. A source told Valleywag the amount Yahoo is investing is only $20 million and that the deal has closed.
Nobody really enjoys using most of the Yahoo! branded apps or websites, so the company's future rests largely on the money it can make from advertising. For this reason and perhaps others, it's not a good sign that Yahoo! CEO Marissa Mayer showed up hours late to a client dinner because she was asleep.
No sooner had Marissa Mayer pledged her allegiance to content (and advertising!) at CES than she put David Pogue to work. On stage this afternoon, the new head of Yahoo Tech "magazine" just wrapped up an interview with Nick D'Aloisio, the insufferable entrepreneur that Mayer made a multimillionaire before his 18th birthday.
When the White House invite list for "top tech executives" got out yesterday, a few names stood out for the wrong reason. What would former Zynga CEO Mark Pincus, who stepped down in July after layoffs, a stock price free fall, shuttered games and a exodus of executives add to a discussion Healthcare.gov and NSA surveillance?
Business Insider reports that Yahoo began "serious talks to buy" Imgur, the meme-laden photo-sharing site that grew of its symbiosis with Reddit, this fall. We heard a similar rumor from a source in late October that we weren't able to substantiate. At the time, the source said the deal "might be up to $200 million."