Reuters top ten news stories delivered to your inbox each day.
You are here:
Business & Finance
The Great Debate
Do More With Reuters
Make Reuters My Homepage
Support (Customer Zone)
About Thomson Reuters
Yahoo eyes acquisitions, social media
Thu May 21, 2009 10:51am EDT
Email | Print |
| Reprints | Single Page
By Alexei Oreskovic
NEW YORK (Reuters) - Yahoo Inc is looking to buy companies that will allow it to become a bigger player in social networking and revamp its family of products, Chief Technology Officer Ari Balogh said on Wednesday.
"It's a good time to be buying now," he told the Reuters Global Technology Summit, pointing to valuations that have come down from levels six to nine months ago.
While declining to give specific names, Balogh said Yahoo has had conversations with companies about partnerships and "more interesting" possibilities, such as on building out its platform and basic computing in addition to search.
"I can guarantee you there will be some acquisitions, and we will do some stuff in-house," Balogh, who is executive vice president of products at Yahoo, said by videolink.
Yahoo will introduce new products this fall that will give users a more unified experience across its network of websites and showcase the company's strategy to grow again, after much of 2008 was marred by the failed deal talks with Microsoft Corp.
Yahoo is striving to revive its fortunes as sales decline because of the recession and competition from other Web heavyweights, including Google Inc and Facebook.
While conceding that Google has "won the game" of search as we know it today, Balogh says search will be about much more than "10 blue links" in the future.
"The thing I will tell you is that, core to great experiences for people online may not necessarily be this version of search," Balogh said. "I believe search is going to be far richer ... there's a whole other round or two to go in the search game and that's where we intend on playing.
The future of Yahoo's Internet search business is a big question for investors. Yahoo Chief Executive Carol Bartz and Microsoft CEO Steve Ballmer have talked about partnering on search, according to a source familiar with the matter.
Balogh said any decision about a search deal was up to Bartz and Yahoo's board. But he said that whatever happens, Yahoo will continue to invest in its own search capabilities.
Balogh said search technology is a vital part of the consumer experience that Yahoo delivers, "and having leading edge scientists and technologists who understand search technology and where search is going is critical to Yahoo."
Yahoo is the No. 2 U.S. search engine, with 20.4 percent market share in April, according to comScore. Google increased its share by half a percentage point in April to 64.2 percent of the U.S. market, its highest level ever.
Yahoo earned $118 million in the first quarter, while its sales declined 13 percent year-over-year to $1.58 billion.
While advertising spending is down industrywide due to the weak economy, Balogh said Yahoo was seeing strong interest from advertisers for new ways to promote their brands online. Continued...
View article on single page
Capcom to unveil more iPhone titles
Reuters Global Technology Summit
Who will come out on top?
Technology companies are drawing attention from investors and consumers alike as everyone tries to predict the market bottom and what new inventions might drive a recovery. Full Coverage
More Technology News
Capcom to unveil more iPhone titles
Opera CEO says hopes firm stays independent
Researchers create DVDs with massive storage
Craigslist faces prostitution controversy in NY
Microsoft ordered to pay $200 million in patent case
More Technology News...
A selection of our best photos from the past 24 hours. Slideshow
Most Popular on Reuters
Dark horse Kris Allen wins "American Idol"
Hubble's troubles surprised shuttle crew
Suspects in NY jihad plot due in court | Video
"American Idol" winner appears too close too call
Tarantino's "Basterds" surprisingly tame war movie
Iran tests missile as election race starts | Video
Study turns back clock on origins of life on Earth
Tarantino and Pitt in Cannes for Nazi-slaying caper | Video
"Terminator" moves on without busy Schwarzenegger
Is the new love affair with bank shares wise?
Most Popular Articles RSS Feed
Landmarks for sale?
Rumsfeld's biblical briefings?
Proposed credit card changes
Clinton warns of Mideast arms race
China's police tech kit
Geither: Financial system healing
U.S. bomb plot arrests
New fossil link for human evolution
Myanmar TV shows Suu Kyi images
Delivering on Guantanamo
Most Popular Videos RSS Feed
the great debate
Facebook, shmacebook: What’s the next great thing?
Facebook is the 800-pound gorilla in the social media space, with some 200 million members, a valuation of perhaps $5 billion and a base that has expanded well beyond its early roots as a private hangout for bored Ivy League students. Commentary
We want to hear from you
Join the Reuters Consumer Insight Panel and help us get to know you better
Please take a moment to complete our survey
Help and Contact Us |
Advertise With Us |
Interactive TV |
Site Index |
Thomson Reuters Corporate:
Professional Products |
Professional Products Support |
About Thomson Reuters |
Latin America |
United Kingdom |
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.