Yahoo! Inc. is an American multinational Internet corporation headquartered in Sunnyvale, California. It isglobally known for its Web portal, search engine Yahoo Search, and related services, including Yahoo Directory, Yahoo Mail, Yahoo News, Yahoo Finance, Yahoo Groups, Yahoo Answers, advertising, online mapping, video sharing, fantasy sports and its social media website. It isone of the most popular sites in the United States and, as a corporate entity, is considered one of the most successful startup companies of all time by market capitalization, revenue, growth and cultural impact.
According to news sources, roughly 700 million people visit Yahoo websites every month. Yahoo itself claims it attracts "more than half a billion consumers every month in more than 30 languages." Data collated by comScore during July 2013 revealed that more people in the U.S. visited Yahoo Web sites during the month in comparison to Google Web sites; the occasion was the first time that Yahoo outperformed Google since 2011; set at 196 million United States visitors, having increased by 21 percent in a year. The data did not incorporate visit statistics for the Yahoo-owned Tumblr site or mobile phone usage.
Yahoo was founded by Jerry Yang and David Filo in January 1994 and was incorporated on March 1, 1995. The word "yahoo" is an acronym for "Yet Another Hierarchical Officious Oracle". The term "hierarchical" described how the Yahoo database was arranged in layers of subcategories. The term "oracle" was intended to mean "source of truth and wisdom", and the term "officious", rather than being related to the word's normal meaning, described the many office workers who would use the Yahoo database while surfing from work. However, Filo and Yang insist they mainly selected the name because they liked the slang definition of a "yahoo" (used by college students in David Filo's native Louisiana in the late 1980s and early 1990s to refer to an unsophisticated, rural Southerner): "rude, unsophisticated, uncouth." Filo's college girlfriend often referred to Filo as a "yahoo." This meaning derives from the name of a race of fictional beings from Gulliver's Travels.
On July 16, 2012, former Google executive Marissa Mayer was named as Yahoo CEO and President, effective July 17, 2012. In January 1994, Yang and Filo were electrical engineering graduate students at Stanford University when they created a website named "Jerry's guide to the World Wide Web". David and Jerry's Guide to the World Wide Web was a directory of other websites, organized in a hierarchy, as opposed to a searchable index of pages. In March 1994, "David and Jerry's Guide to the World Wide Web" was renamed "Yahoo!" The "yahoo.com" domain was created on January 18, 1995.
Yahoo grew rapidly throughout the 1990s. Like many search engines and Web directories, Yahoo added a web portal. As of 1998, Yahoo! was the most popular starting point for web users. It also made many high-profile acquisitions. Its stock price skyrocketed during the dot-com bubble, Yahoo stocks closing at an all-time high of $118.75 a share on January 3, 2000. However, after the dot-com bubble burst, it reached a post-bubble low of $8.11 on September 26, 2001. In 2000, Yahoo began using Google for search. Over the next four years, it developed its own search technologies, which it began using in 2004. In response to Google's Gmail, Yahoo began to offer unlimited email storage in 2007.
On May 19, 2013 the Yahoo board approved a US$1.1 billion purchase of blogging site Tumblr, and the company's CEO and founder David Karp will remain a large shareholder. The announcement reportedly signifies a changing trend in the technology industry, as large corporations like Yahoo, Facebook, and Google acquire start-up Internet companies that generate low amounts of revenue as a way in which to connect with sizeable, fast-growing online communities. The Wall Street Journal stated that the purchase of Tumblr would satisfy the company's need for "a thriving social-networking and communications hub." On May 20, the company announced the acquisition of Tumblr officially. On August 2, 2013, Yahoo Inc. announced the acquisition of social Web browser concern RockMelt. With the acquisition, the RockMelt team, including the concern's CEO Eric Vishria and CTO Tim Howes, will be the part of Yahoo team. As a result, all the RockMelt applications and existing Web services were terminated on August 31.
Data collated by comScore during July 2013 revealed that more people in the U.S. visited Yahoo Web sites during the month in comparison to Google Web sites; the occasion was the first time that Yahoo outperformed Google since 2011. The data did not incorporate visit statistics for the Yahoo-owned Tumblr site or mobile phone usage.
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