History of Yahoo!

From Wikipedia, the free encyclopedia

Yahoo! started at Stanford University.[1] It was founded in January 1994 by Jerry Yang and David Filo, who were Electrical Engineering graduate students when they created a website named "Jerry and David's Guide to the World Wide Web". The Guide was a directory of other websites, organized in a hierarchy, as opposed to a searchable index of pages. In April 1994, Jerry and David's Guide to the World Wide Web was renamed "Yahoo!".[2][3] The word "YAHOO" is a backronym for "Yet Another Hierarchically Organized Oracle"[4] or "Yet Another Hierarchical Officious Oracle."[5] The yahoo.com domain was created on January 18, 1995.[6]

Yahoo! grew rapidly throughout 19901999 and diversified into a web portal, followed by numerous high-profile acquisitions. The company's stock price skyrocketed during the dot-com bubble and closed at an all-time high of US$118.75 in 2000;[7] however, after the dot-com bubble burst, it reached an all-time low of $8.11 in 2001.[8] Yahoo! formally rejected an acquisition bid from the Microsoft Corporation in 2008.[9] In early 2012, the largest layoff in Yahoo!'s history was completed and 2,000 employees (14 percent of the workforce) lost their jobs.[10]

Carol Bartz replaced co-founder Jerry Yang as CEO in January 2009,[11] but was fired by the board of directors in September 2011; Tim Morse was appointed as interim CEO following Bartz's departure.[12] Former PayPal president Scott Thompson became CEO in January 2012 and after he resigned was replaced by Ross Levinsohn as the company's interim CEO on May 13, 2012. On July 16, former Google executive Marissa Mayer, became the CEO of the company.[13] Most current is Jim Lanzone

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