Series of Mistakes that Eliminated Yahoo from Competition
If you take a look at Yahoo! logo, you’ll notice that there is a big exclamation mark at the end of it. Regardless of its reason, if we think philosophically about it, we’ll find out that Yahoo Company has made many strange mistakes during its 22-year history. Also, its managers underestimated Yahoo’s position and made strange decisions for their company. But we know that managers` decisions can totally change the future of a brand.
In January 1994, Jerry Yang and David Filo (two electrical engineers graduated from Stanford University) decided to design a website for searching web content and called it Jerry and David’s guide to the World Wide Web. After a while it became very famous and its name was changed to Yahoo.
Many computer users became familiar with the Internet through Yahoo and its products. For many, creating a Yahoo account for using Yahoo Mail, Yahoo Messenger and Yahoo! 360° was their first step in the world of Internet. When there was no Facebook, Instagram, Telegram, WhatsApp, Viber and Line, Yahoo was the leader with Yahoo Messenger and Yahoo! 360°.
But the main question is that why you lose a winning game? The answer is clear. It was because of wrong decisions made by company managers and lack of innovation and creativity making it noncompetitive.
Let’s take a look at some of these wrong decisions:
1998: Yahoo rejected to buy Google for 1 million dollars.
2002: Yahoo understood its mistake and offered to buy Google for $3 billion, but Google requested $5 billion and Yahoo didn’t accept.
2008: Microsoft made $40-billion offer to buy the company, but it was rejected by Yahoo.
2016: Verizon bought Yahoo for only $4.6 billion.