Hey, HonorTech fans. How are you?
Hoping that you guys are doing well
Starting with the first episode let's dig deep into the and shine some light on Yahoo. I am sure every one of you has heard of Yahoo at some point in your online journey. From being a dominant and major tech giant at one point in time to now being overshadowed by competitors like Google and Facebook the journey of Yahoo showcases the ever-changing nature and intense competition of the tech industry.Welcome to another captivating series wherein we will dive into some of the epic tech failures of all time. Well, it might sound a little unconventional to discuss mishaps and setbacks in an era of rapid advancement, but these past failures are a reminder that even the best of the best can fail at times. So let's commence with this disastrous journey of tech history where each step uncovers some valuable lessons that will guide us in years to come.
Founded by Jerry Yang and David Filo in January 1994, under the name Jerry and David's Guide to the World Wide Web, Yahoo began its journey as a directory of websites in an era when the idea of search engines like Google was nonexistent. Launched at just the right time, Yahoo was making web browsing more simplified by organizing the web chaos in the 1990s. However, the founders had no idea that their part-time project would turn into one of the most successful and visited websites in the world.
Seeing its unprecedented success in the 1990s Yahoo expanded its reach into more services, to diversify its reach and cater to the growing internet traffic in that era. The services included features like Yahoo Mail, Yahoo News, and Yahoo Messenger making it a one-stop destination for all users worldwide when the World Wide Web and Internet were still in the adoption phase.
By the 2000s Yahoo became the Google of today's generation. It sounded like an integral part of life and one couldn't imagine navigating the internet without the presence of it. But you might be wondering What led to the failure of this thriving tech giant? Well to begin with that did you know Yahoo once had an opportunity to acquire Google for a valuation of just $5 Billion, but they passed on that decision.
This decision made Google the king of browsing for decades to come. But alongside this several other social media platforms like Facebook, and Twitter started emerging which started ringing alarms at Yahoo. Users started shifting to these services and the company did nothing to acquire back its customers.
Another key factor in the downfall was the continuous change in the CEO from the 1990s through the 2000s and into the 2010s, wherein each CEO came in with a different vision constantly diverting the company's focus and strategy. None of the CEOs was able to put breaks on the rapidly declining userbase and as a result, the company started struggling against competitors like Google, Facebook etc.
The final nail in the coffin was a series of high-profile data breaches shaking the trust and confidence of users worldwide. The first one occurred in 2013 and wasn't disclosed by Yahoo until 2016, affecting an estimated user base of over 3 billion which included sensitive information like names, email addresses, phone numbers, and passwords. The second hit was in 2014 affecting nearly 500 million users.
To put an end to the story the tech giant Yahoo crumbled to its own vulnerabilities and internal challenges and finally, it was acquired by Verizon Communications in 2017 for approximately $4.48 billion. This acquisition included the transfer of services like Yahoo's email, search, and advertising technology. But wait hold on the story doesn't end here, the Verizon Communications was further acquired by Apollo Global Management in 2021 for $5 Billion. Today Yahoo's 90% equity is owned by Apollo Global Management and focuses primarily on its services including Yahoo news, Yahoo Mail, Yahoo Messenger, Yahoo Maps, Flickr, and Yahoo Search.
Don’t forget to follow me and Htech for updates and launch-related news in the future.That’s all for today, I hope you enjoyed it. Have you ever used any services offered by Yahoo? Share it with me along with your opinions in the comments below.
Bye Guys
Signing off
Jai
