In the series of events happening at Yahoo! Inc, Insider Â reports, that, It is up for Sale, Â suggesting the beleaguered search and email giant isn’t relying solely on industry-leading innovation,Ã¢â‚¬Â as board chairman Roy Bostock claimed, to reverse the decline.
Yahoo has today fired its CEO Carol Bartz replacing her with Â Timothy Morse, Â Several sources said the board, specifically Chairman Roy Bostock and Co-founder, as well as director Jerry Yang, acted today, informing Bartz by phone of the need to make a change.
I am very sad to tell you that I’ve just been fired over the phone by Yahoo’s Chairman of the Board. It has been my pleasure to work with all of you and I wish you only the best going forward.
Carol Bartz’s Email
Yahoo Inc, seems to be crumbling on it’s way down, which was one of the most valuable company, $100 Billion Dollar, is now about a $22 Billion Dollar Â (as on Sept 2011) company. Almost half of what Facebook is valued.
You could blame the acquisions of the company and the services they shut down, namely
1. Geocities: Brought it about $3+ Billion 10 years ago, Yahoo finally shut Geocities down in October 2009.
2. HotJobs: Another very successful portal for job-seekers which Yahoo purchased for $436 million and almost 10 years later sold it for almost half the price at $225 million to Monster.com.
3. Delicious: Â Delicious bookmarks had a great opportunity to grow and was purchased by Yahoo for a mere $15 million. They even sold this company to the YouTube founders for $5 Million
we could give you Â in-numerous example, but do you see a pattern here, Yahoo buys a service or a software, DOESN’T innovate and sell it off to a lower pricing, wonder why Yahoo isn’t able to get this. Â Yahoo, has had a strange record of taking over companies or web services which are hugely popular and successful and then turning them into nothingness. This is where they have lost literally billions of dollars over the last decade.
Coming back to the YAHOO! INC UP FOR SALE part, Â Although no official comment about being up for sale has been made, the suggestion of being open to selling itself to the right bidderÃ¢â‚¬Â is being interpreted as a clear message that the Yahoo! board is looking for a relatively easy out. Meanwhile, a strategic review is expected to begin in the near future, looking at what Yahoo! could do to turn itself around Ã¢â‚¬“ including partnerships or acquisitions Ã¢â‚¬“ if a sale doesn’t present itself
However, if it does, Â Microsoft could make a Â bid Â to take over Yahoo. We are sure folks over at Redmond would be tracking these developments minutely and precisely.
It will be Â interesting Â to see what now happens to search and email company and if a new leader or sale will be able to turn its fortunes around.