Yahoo CEO Terry Semel spoke his mind on Tuesday when discussing the possible Google IPO and chances that Yahoo would be hurt by such a large move by its biggest competitor. Speaking at a Milken Institute conference Semel commented that “Yahoo is a company that has always had good competitors and Google will be a good competitor. There is plenty of room for Yahoo to thrive and for Google to thrive.”
According to a Reuters report, Yahoo has an estimated 5 percent stake in Google, which is expected this week to announce plans for an initial public stock offering that could value the company at around $20 billion. Rueters also adds that Yahoo has invested more than $1 billion in acquisitions to challenge Google in the lucrative business of Web search and key-word advertising.
Such acquisitions include that of Inktomi and Overture. Upon launching their Yahoo Search Technology, Yahoo morphed the Inktomi search engine’s paid inclusion system into Overture SiteMatch, which is a hybrid pay-per-click and paid conversion model.
Comments
3 responses so far ↓
Sam Katz on Apr 27, 2004 at 10:55 pm
I always thought Yahoo would keep Google as their search partner. No such luck for consumers. This seems to indicate to me that Yahoo is serious about competing in search.. I believe their is room for 2, but not 3.. Microsoft.
Time will tell. It’s also about surrival, not thriving.
–Sam
tony on Apr 27, 2004 at 11:19 pm
I think it’ll be fine. Google and Yahoo! are two very different types of search engines. I’d be lost without either one of them.
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