In todays age of much publicized feuds, the rising tension between Yahoo founders and Microsoft has been very interesting to say the least. A battle between business tyrants, both companies represent billions of dollars raging war on a corporate landscape.
The Details
In a letter to shareholders, Yahoo! brass Jerry Yang and Roy Bostock criticized Microsoft and their collaboration with billionaire Carl Icahn. Within the letter Yang and Bostock both accused Icahn and Microsoft for not standing strong on certain issues and playing a tactical game with the company with respect to the media. Yang feels that the public showing of Microsoft and Icahn's partnership is done in order to undermine the value and assets of Yahoo! Carl Icahn is a key investor of Yahoo! and controls about 5 percent of the company which equals out to 70 millions share.
Microsoft first publicly announced their patnership with Carl Icahn on July 7th, 2008. Microsoft revealed that the collaboration with Icahn was a way to get rid of Yahoo! co-founder Jerry Yang and to re-attempt a takeover of the company. Icahn had even issued a letter to other shareholders that the takeover of Yahoo! by Microsoft would be very beneficial to them and even Microsoft shareholders. Icahn went on to state that:
"Our company is now moving toward a precipice. It is currently losing market share in its 'search' function; our current board has failed to bring in a talented and experienced CEO to replace Jerry Yang and return Jerry to his role as Chief Yahoo!, and currently it is witnessing a meaningful exodus of talent."
Microsoft has been very pleased by Icahn's assistance and stated that they would only be interested in completing a merger with Yahoo! if the current board on Yahoo! was replaced. Despite the fact that the Microsoft deal has been very much publicized, it is widely known that Microsoft is not the only company that Yahoo! has been in talks with.
Early Yahoo! History
Yahoo! an internet and multimedia giant was founded by Stanford grads Jerry Yang and David Filo in 1994 and has since been one of the leading corporations within the US and abroad with a value of over billions and billions of dollars. Recent statistics show that the company receives about 3.4 billion page views a day and is the second most visited website in the US.
Initially, Yahoo! was named, "Jerry's Guide to the World Wide Web." It has been said that the name which the company has eventually became to be known as was taken from a novel by Jonathan Swift titled Gulliver's travel that was published in 1726. The title of the book is officially known as "Travels into Several Remote Nations of the World, in Four Parts. By Lemuel Gulliver, First a Surgeon, and then a Captain of several Ships." Considered a classic, the book is a satire on human nature.
It is here, that the now famous word: Yahoo, was taken and adopted to a unique and in 1994 a hungry and blooming upstart company. Within the Merriam - Webster dictionary the word yahoo is defined as a, "boorish, crass, or stupid person." It is with this identity that this company rose up from the ground and become a towering figure within the realm of international business.
Money Equals Drama
As one singer stated, "Mo' money, Mo' problems", and Yahoo is one company that has not been immune to such situations and the recent plot of Icahn to rid of the companies board is just another episode of Yahoo!'s most interesting and intriguing diary.
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Article provided by S-Proprietor.com. A website dedicated to entreprenuers, work at home business opportunities and resources.
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