In recent months, companies like Facebook, Google, and Yahoo have dialed back their most egregious political donations, pulling support from climate change-denying groups like ALEC and the Chamber of Commerce. But tech firms continue funneling money into right-wing campaigns, and the Silicon Valley liberals who financed them are pissed.
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.
Maria Zhang, the Yahoo engineering executive sued for sexual harassment by one of her female employees, is striking back. Zhang, who helps lead Yahoo's crucial mobile efforts, filed a cross-complaint (embedded below) against her accuser, Nan Shi. It alleges defamation and claims Shi was trying to "extort" Yahoo.
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.