Yahoo! had a chance to grow & survive. It ‘had’!
So what’s the biggest mistake that Yahoo! ever made? Well, allow us to rephrase that... what are the biggest mistakes made by Terry Semel and his successor Jerry Yang? Allow us to reflect back on what happened in 2001. That year, Yahoo’s chief, Terry Semel met the co-founders & co-Presidents of Google – Larry Page and Sergey Brin – to discuss the acquisition of Google. Semel offered them much lower than the $5 billion, that the co-founders asked for. As a justification, Semel stated that “no one could truly value Google,” and that there was “no way he would shell out such a hefty amount” for the search-engine start-up. Eight years later, Google commands a market value of $121.1 billion, while Yahoo!, a lamentable $19 billion! Then there was Semel’s successor, Jerry Yang, who in 2007 brushed aside Microsoft’s bid for Yahoo! for a mind-blowing $46 billion.
So what’s the biggest mistake that Yahoo! ever made? Well, allow us to rephrase that... what are the biggest mistakes made by Terry Semel and his successor Jerry Yang? Allow us to reflect back on what happened in 2001. That year, Yahoo’s chief, Terry Semel met the co-founders & co-Presidents of Google – Larry Page and Sergey Brin – to discuss the acquisition of Google. Semel offered them much lower than the $5 billion, that the co-founders asked for. As a justification, Semel stated that “no one could truly value Google,” and that there was “no way he would shell out such a hefty amount” for the search-engine start-up. Eight years later, Google commands a market value of $121.1 billion, while Yahoo!, a lamentable $19 billion! Then there was Semel’s successor, Jerry Yang, who in 2007 brushed aside Microsoft’s bid for Yahoo! for a mind-blowing $46 billion.
Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).
and Arindam Chaudhuri (Renowned Management Guru and Economist).
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