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From Wikipedia, the free encyclopediaYahoo” redirects here. For other uses, see Yahoo (disambiguation).
Yahoo! Inc.
 
Type Public (NASDAQ: YHOO)
Founded Santa Clara, California
(March 1, 1995)
Headquarters 701 First Avenue
Sunnyvale, California, USA
Key people Jerry Yang, Chairman, CEO, Chief Yahoo and Co-founder
David Filo, Chief Yahoo and Co-founder
Susan Decker, President
Industry Internet, computer software
Products (See list of Yahoo! products)
Revenue ▲$7.0 billion USD (2007)[1]
Operating income ▲ $730 million USD (2007)[2]
Employees 13,800 (April 22, 2008)
Website www.yahoo.com
Yahoo! Inc. (NASDAQ: YHOO) is an American public corporation incorporated in Sunnyvale, California and a global Internet services company. It provides a range of products and services including a Web portal, a search engine, the Yahoo! Directory, Yahoo! Mail, news, and posting. It was founded by Stanford University graduate students Jerry Yang and David Filo in January of 1994 and incorporated on March 1, 1995. The company is headquartered in Sunnyvale, California in Silicon Valley.

According to Web traffic analysis companies (including Compete.com, comScore,[3] Alexa Internet,[4] and Nielsen Ratings),[5] the domain yahoo.com attracted at least 1,575 million visitors annually by 2008 according to a Compete.com study.[6] The global network of Yahoo! websites receives 3.4 billion page views per day on average as of October 2007, making it one of the most visited U.S. websites.[4]

On February 1, 2008, Microsoft made an unsolicited bid to purchase Yahoo for $31 a share, or $44.6 billion for all the shares.[7] Yahoo’s board of directors rejected the offer on February 11, calling it too low.[8] On May 3, 2008, Microsoft withdrew its offer. [9][10]
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Well, that’s that! Microsoft has officially pulled its bid for Yahoo! — inflated for good measure this weekend by another $5 billion — after the company did “not move toward accepting [the] offer”, asking again for even more, another $4 bil (totaling $9b more than the original offer). In a letter from Ballmer to Yang, he states that Microsoft also won’t be looking at its option for a hostile takeover, stating that Yahoo! likely “would take steps that would make [it] undesirable as an acquisition”; Ballmer then goes on to make a few backhanded criticisms of Yahoo’s possible new partnerships with Google (which is no surprise). Good night, Microhoo, the monstrous, hamstrung, lumbering mega-merger that might have been.

Update: Yahoo! makes its pubic response here. Yang sums it up: “With the distraction of Microsoft’s unsolicited proposal now behind us, we will be able to focus…” etc. Alright then.

NEW YORK (Reuters) - Yahoo’s board members are formally discussing Microsoft Corp’s $42 billion unsolicited offer for the company and have scheduled an in-person meeting for next week, the All Things Digital blog reported on Friday.
Board members will have discussed the bid by phone on Friday and are expected to meet next Wednesday at Yahoo headquarters in Sunnyvale, California, the blog said, citing unnamed sources.

A Yahoo spokeswoman, commenting on an earlier report that the board was meeting on Friday, said the company was still “carefully and thoroughly evaluating” the Microsoft offer but would not say when its directors plan to meet. The company declined to comment on reports of a Wednesday meeting.

Microsoft made its offer public on February 1.

Yahoo has sought an alternate tie-up with Web search leader Google Inc to maintain its independence. Should it pursue the Microsoft offer, it is expected to seek a higher price than the current cash and stock offer, now valued at about $29 per share.

Analysts have said Microsoft could be persuaded to raise its bid to make it easier for Yahoo co-founder and CEO Jerry Yang and his board to accept it.

Separately, a major investor in Yahoo met with Microsoft CEO Steve Ballmer to see if he would be willing to raise the offer, the New York Post reported.

Capital Research and Management, which owns more than 11 percent of Yahoo shares and more than 6 percent of Microsoft, wants to know how much more the software maker might pay if Yahoo rejects the initial offer, the Post said, citing a source familiar with the meeting.

Officials for Capital Research and Microsoft declined comment on the report.

Yahoo shares rose 16 cents to close at $29.20 on the Nasdaq. Microsoft shares rose 44 cents, or 1.6 percent, to $28.56.

(Reporting by Michele Gershberg in New York, Daisuke Wakabayashi in Seattle and Muralikumar Anantharaman in Boston; editing by Phil Berlowitz, Gary Hill)

source:news.yahoo