Screw Up: The Decline of Yahoo

Yahoo was a leading company in the late 1990s and the early 2000s, possibly one of the best web services available. However, if you mention Yahoo now, you’d have to ironically Google it. Over a decade ago, it was holding its own against Google and Microsoft. With its peak valuation at $125 billion in 2000, it must have been hard to predict such a tech titan facing a downfall this unfortunate. 

What exactly happened to Yahoo? Yahoo now serves as a wake-up call to other companies to step up their innovation and create better strategies. Our article has broken down their story and mistakes. 

The founders of Yahoo! – David Filo and Jerry Yang

What is Yahoo? 

In January 1994, Jerry Yang and David Filo created Yahoo (often stylised as Yahoo!) as a small project. This small project was initially named, “Jerry and David’s Guide to the World Wide Web,” with the vision of a directory-style search engine. 

Fun fact: The full form of “Yahoo” is “Yet Another Hierarchically Organized Oracle” or “Yet Another Hierarchical Officious Oracle.”

Their services include– a web portal, Yahoo search engine, personalised page My Yahoo!, Yahoo Mail, Yahoo News, Yahoo Finance, Yahoo Sports, and Yahoo! Native. These were all active and regularly visited in the late 1990s and early 2000s.

 

These Grave Mistakes Cost Yahoo

Google: In 1998, Yahoo had the chance to buy Google for a mere $1 million and yet refused the offer. In 2002, Google’s offer raised to $5 billion which Yahoo countered for $3 billion, an amount the former rejected. This was one of the biggest mistakes Yahoo ever made as Google’s worth now sits at more than $1 trillion. 

Facebook: Yahoo tried to obtain Facebook for $1 billion in 2006. While their current valuation of $562.19 Billion is leagues above, Facebook was rapidly growing in 2006 and is a still remembered platform. Mark Zuckerberg, the CEO of Meta Platforms (originally Facebook), rejected the offer. However, reports have said that Facebook’s board of directors pushed for $1.1 billion which Yahoo then refused for reasons unknown. Settling for that price difference would have acquired them one of the most visited social media platforms. 

Microsoft: Now the turns were turned on Yahoo for the opportunity of a lifetime. Microsoft recognised Yahoo and offered to acquire them in 2008 at $46 billion. Despite their generosity, Yahoo rejected the offer, priding themselves to be worth more than the offer price. 

Yahoo’s valuation continued to decline over the years, with all of these strategic moves amounting to nothing when they could’ve proved to be beneficial. Ultimately in 2016, their several mistakes led to Yahoo being sold to Verizon at a mere $4.8 billion. 

Strategies That Proved Yahoo’s Lack of Vision and Care

Strange Deal with Microsoft: The two companies then made a deal where Yahoo! Search would be powered by Microsoft Bing’s search engine. However, Yahoo’s failure to innovate its search engine, not prioritising quality for a smooth user experience, is a whole other downfall. 

Failing to Power the Niche of Tumblr and Turning Down Netflix: After investing in Tumblr at $1.1 billion in 2013, it was made known that Yahoo could have purchased the streaming service, Netflix, at $4 billion. However, due to their lack of creativity, a quality Tumblr needed, Yahoo dragged Tumblr’s valuation down to $260 million in just 3 years. Now, Netflix sits at $261.74 Billion. 

Lack of Consistent Leadership: Yahoo began a vicious cycle of switching and hiring external executives. Filo and Yang relinquished leadership to others, which led to confusion in direction. As the saying goes, “Too many cooks spoil the broth” and Yahoo’s leadership style proves it. The constant change and variety left them with no clear-cut vision. A company needs a vision and Yahoo severely lacked one. With too many possible futures and ideas, their leadership ruined any chance of forming a plan. 

The Data Breaches of 2013 and 2014: Any web service provider should arrive with the promise of data protection. Consumers should have confidence that their privacy will not be compromised. However, Yahoo betrayed that trust. Despite Yahoo’s popularity in the 2000s, the 2010s were a different story altogether. In 2013, over 3 billion accounts were exposed, revealing their names, passwords, emails and phone numbers. This wasn’t the last as 2014 saw another 500 million accounts violated. This jeopardised their trust and connection to the general public. 

How They Could Have Used Alibaba: Yahoo decided to invest $1 billion in 2005 in the Chinese e-commerce website, Alibaba. Alibaba was a much younger company and Yahoo’s investment gave it a rush of growth. However, when their business became expansive, Yahoo failed to make the correct decision. Alibaba’s value in 2014 was $168 billion, an impressive number that should have encouraged Yahoo to make a move. However, Yahoo’s CEO during that period, Marissa Mayer, decided to instead sell a portion of their shares with Alibaba. 

Where is Yahoo Now? 

Initially sold to and merged with AOL (America Online) by Verizon Communications in 2017, Yahoo has now been acquired for 90% division by Apollo Global Management in September 2021. The former CEO of Tinder, Jimmy Lanzone, now serves as the CEO of Yahoo. 

Follow our series, Saturday Screw Ups on Instagram: Saturday Screw Up – Yahoo! 

What Can Companies Learn From Yahoo? 

Here are the best lessons we can learn from Yahoo’s mistake: 

  1. Embrace Innovation and Seize Opportunities: Yahoo’s decline serves as a stark reminder of the importance of innovation and seizing opportunities when they arise. Yahoo had the chance to acquire Google for a mere $1 million but passed it up. Fast forward to today, now Google is worth over $1 trillion. This highlights the importance of recognizing innovation and acting swiftly to capitalise on it. 
  2. Value Quality Over Quantity: Yahoo’s failed attempt to compete with Google in search engine technology demonstrated the importance of prioritizing quality over quantity. Despite partnering with Microsoft’s Bing search engine, Yahoo’s lack of innovation and failure to prioritize user experience led to its downfall. Companies should focus on providing high-quality services that meet customer needs rather than simply expanding.
  3. Maintain Consistent Leadership and Vision: Yahoo’s frequent changes in leadership and lack of a clear vision contributed to its downfall. With each new leader came a different direction, leading to confusion and a lack of focus within the company. Companies need to maintain consistent leadership and a clear vision to guide their strategic decisions and ensure long-term success.
  4. Recognize and Nurture Investments: Yahoo’s failure to fully capitalize on its investment in Alibaba, Tumblr and others is a valuable lesson in recognizing and nurturing investments. While Yahoo’s initial investment in Alibaba provided a significant boost to the e-commerce giant’s growth, it ultimately failed to capitalize on Alibaba’s soaring valuation. Companies should carefully evaluate and nurture their investments to maximize their potential returns and incite future growth.
  5. Protect Consumer Trust and Data: Yahoo’s data breaches in 2013 and 2014 severely damaged its reputation and eroded consumer trust. Companies must prioritize data security and take proactive measures to protect customer information. Building and maintaining trust with consumers is crucial for long-term success and brand reputation.

Lost in the Crowd: Existentialism in the age of social media

“If something burns your soul with purpose and desire, it’s your duty to be reduced to ashes by it. Any other form of existence will be yet another dull book in the library of life” – Charles Bukowski 

We live in a time where the very essence of the human experience has been reduced to the scrolling timelines of social media. We’re stimulated throughout the day and the idea of being bored has certainly become a thing of the past. We do not ponder a thought anymore, and when we do, we wonder how the thought can be manipulated and drafted into a social media post that will bring traction. Amidst dancing reels, funny trends and mini travel vlogs packed and parceled to please your dopamine receptors, humans have somewhere diminished their sense of individuality. 

While travelling from work to home in the Metro, I often see people using their phones to consume content on the go. Most of the content is usually short-form social media reels that hit your system like a line of cocaine and give you a rush of dopamine. I am not different as I spend a big chunk of my day on social media consuming content too. This no-commitment content consumption model which switches genres with every swipe has ingested an existential angst inside me. 

The minds of young adults can be easily captivated by the heightened reality presented on social media. We have influencers on social platforms who promote a certain lifestyle and target young men in order to gain followers and use subliminal marketing to sell products. The Andrew Tates and Dan Bilzerians of the world have polluted the minds of growing men to the point where they do not refrain from insulting the opposite gender. Treating women like sex objects and considering their entire existence is based upon serving men is not a thing of the past, however, one would expect changing times would bring about a positive change. Thanks to social media, we’ve gone back. 

The question of ‘Where are we heading as a species’ is as old as time with many philosophers basing their life’s work on it. However, in the modern sense, this question leans more on the negative side.

“If you don’t like it, don’t consume it” is a line people in support of such content creators throw around casually. However, allowing toxic viewpoints to be nurtured on any platform toxicates young minds. As a 25-year-old, who also happens to run a meme page, I often come across users who bash people with independent ideologies. Most of these are young users who feel it is alright to go around saying anything they wish to the opposite gender or people with different sexual preferences. This brings out the Jean-Paul Sartre inside me who wonders where are we heading as a species. 

The basis of the existentialist theory states that ‘Everyone must create their own values and live according to their own beliefs and passion’ However, in the age of social media, we find ourselves following trends. We hop on trends like a hungry bunny hopping on carrots, and the hunger here is for likes. The sense of individuality gets diminished in a society which believes in and enjoys following trends be it as simple as visiting a restaurant which has been garnering millions of views on social media. 

We feel validated by doing what others are doing on social media. It gives us a sense of community but also strips us of our individuality. Continuing to live hooked to social media is going to trigger an existential crisis among people sooner than one anticipates. However, the depth of this existential crisis will be limited to why we’re not getting likes and comments on our social media posts. I believe it is high time for people to unhook themselves from the actual Matrix, that is social media.

Breaking Free – Why Limiting Social Media is the Ultimate Liberation?

On Sunday, 2nd July, Elon Musk took to Twitter to humorously urge people to detach themselves from their phones and spend quality time with their loved ones instead. The tweet was his reply to the people questioning his decision to allow unverified Twitter users to view up to 600 posts per day and newly unverified accounts limited to 300 posts per day. Now, if you spend time overthinking his tweet, you’ll realise what he said in that tweet was absolutely right.

In a world where scrolling has become an art form and likes to dictate self-worth, it’s time to question the role of social media in our lives. As we immerse ourselves in a virtual sea of constant updates and curated lives, it’s crucial to recognise the importance of limiting our social media usage and rediscovering the beauty of the tangible world around us.

Imagine a life without filters, where authenticity thrives and connections deepen beyond the superficial realm. Picture a time when conversations were held face-to-face, not through emojis and abbreviations. It’s within our power to break free from the digital chains and reclaim our time, our minds, and our souls.

Today, in the virtual realm, we are actors on a stage, constantly seeking validation in the form of likes and comments. Our self-worth has become contingent on virtual applause, trapping us in a never-ending cycle of comparison and self-doubt. By limiting our social media usage, we liberate ourselves from this unhealthy obsession and rediscover our innate worth, untethered from the whims of strangers’ opinions.

Moreover, our attention spans have become mere flickers in the face of infinite scrolling. We’ve become slaves to the dopamine hits, perpetually seeking the next post, the next notification, the next distraction. By reducing our time spent on social media, we reclaim our ability to focus and engage with the present moment. We reconnect with the beauty of simple pleasures—a warm conversation, a gentle breeze, the touch of a loved one’s hand—moments that social media often masks or diminishes.

Perhaps most importantly, limiting social media usage allows us to nourish our authentic relationships. As we shift our gaze away from screens, we discover the value of quality over quantity. We invest our time in nurturing meaningful connections, fostering deeper bonds that withstand the test of time. We learn the art of active listening, giving our undivided attention to the person in front of us. We build empathy and understanding, strengthening the very fabric of our humanity.

Let us not forget the untold hours wasted in the virtual realm, hours that could have been spent cultivating our passions, pursuing our dreams, and embracing personal growth. Limiting social media usage grants us the gift of time—a precious resource that, once lost, can never be regained. With this newfound time, we unlock a world of endless possibilities, unleashing our creativity, expanding our knowledge, and becoming the best versions of ourselves.

So, my friends, let us challenge ourselves to break free from the virtual veils that have trapped us for far too long. Let us embrace the art of limitation and rediscover the vibrancy of life beyond the glowing screens. Doing so will reclaim our self-worth, nurture genuine connections, and seize the opportunities that await us in the real world. The time has come to let go, to explore, and to soar beyond the confines of our digital existence. It’s time to live.

Snapchat hits new milestone with 750 million monthly active users

A couple of days ago, I heard two of my colleagues talking about the Snapchat streak, and that led me to install the app, and today, Snapchat hit a major milestone, crossing 750 million monthly active users. The achievement highlights the growing popularity of the social media platform, which was first launched in 2011.

Snapchat’s unique features, such as disappearing messages, filters, and lenses, have helped it stand out in a crowded social media market. It has also evolved to include new features such as Stories, Discover, and Snap Map, which have helped keep users engaged and interested in the platform.

Snapchat has also made efforts to attract new users and retain existing ones. The app has expanded its user base by targeting younger demographics with features like Bitmoji, allowing users to create and personalise their avatars and partnerships with popular celebrities and influencers.

The platform has also worked to improve its advertising capabilities, offering a range of ad formats and targeting options to advertisers. The COVID-19 pandemic has also played a role in Snapchat’s growth. Social media usage has increased across the board, with people spending more time at home and looking for ways to stay connected.

However, Snapchat still faces competition from other social media platforms, such as Instagram and TikTok, as they have features similar to those offered by Snapchat, such as Instagram Stories and TikTok’s filters and effects. To stay ahead of the game, Snapchat will need to continue innovating and offering unique experiences for its users.

Crossing 750 million monthly active users is a significant achievement for Snapchat. It demonstrates the platform’s ability to attract and retain a large, engaged user base. With its ongoing commitment to innovation and user experience, the platform is expected to reach 1 billion+ in the next 3 years.

Did you know these 16 Interesting Facts about Twitter?

  1. The iconic bird logo of the social media platform Twitter is named Larry as a tribute to NBA player Larry Bird, who played for the Boston Celtics, Twitter co-founder Biz Stone’s home-state team.

  2. In 2009, Evan Williams and Biz Stone were listed in Time’s 100 most influential people in the world, even before Jack Dorsey.

  3. As of January 2022, the most-liked tweet has over 7.2 million likes, and it was tweeted from the late American actor Chadwick Boseman’s account by his family, informing the world about his demise.

  4. Only the South Korean band BTS has more than three most-liked tweets in the top 30. The band has 21 tweets in the list of top 30 most-liked tweets.

  5. Twitter is blocked in China because Chinese authorities prefer their homegrown social networks as they can have complete control over them, which Twitter doesn’t permit. 

  6. Justin Bieber is the most followed celebrity on Twitter with over 114m followers, only behind former United States President Barack Obama.

  7. Twitter has enough money in the bank to survive approximately 412 years.

  8. The official Twitter account of @Sweden is given to a random Swedish citizen every week to manage with the expressed goal to manifest Swedish diversity and progressiveness.

  9. Twitter first made a profit in the fourth quarter of 2017, earning $91m (£65m).

  10. Out of 1.3 billion Twitter accounts, over 391 million accounts have no followers at all.

  11. Taylor Swift is the most influential person on Twitter, followed by India’s Prime Minister Narendra Modi and Katy Perry.

  12. The Face with Tears of Joy emoji “😂” is the most popular emoji on Twitter.

  13. The hashtag was first brought to Twitter on 23rd August 2007. Chris Messina introduced it in order to filter the tweets and help the existing users connect with a particular theme.

  14. The Twitter logo consists of overlaying 15 different symmetrical circles, which signifies giving everyone a voice.

  15. Out of all the Americans on Twitter, 71% use the platform only to read the news, and 42% use the platform to discuss politics.

  16. The statistical data shows over 75% of emojis tweeted on Twitter are positive, and the number increases by about 2% during Friday and Saturday.

How are Social media And Cryptocurrency related ?

Our lives are influenced every day by social media. Some people also assume that if anything on social media is not You’ve been using Facebook, Instagram, YouTube & Twitter, etc. When we think of social media sites, these are the names that come to our attention. The way we all communicate with each other has been transformed by social media sites.
This has also changed the way thoughts are shared. The fact that social media is increasingly accepted as a medium that helps guide search keywords to corporations’ websites, leading to improved page traffic and brand popularity/visibility is one of the major factors contributing to the growth of
the global social networking industry. In the growth of the market, the proliferation of smartphones also plays a crucial role.
From smartphones, a substantial number of active users access social media.
Every business works on a good concept and there is a revolution in social media
sites. People from diverse industries with various ideas are part of these social media networks, regardless of their age, ethnicity, and location.
In every region, these channels with big engaging networks have been generating a boom. Social networking networks also accelerated the speed of ideas being shared and built into larger enterprises, then it just doesn’t happen.
This is why social media plays such a significant role in cryptocurrency’s growth and value.
Via social media, individuals involved in and holding bitcoin, which is the
most common and valued cryptocurrency can get just about any data on it.
The launch of bitcoin into the mainstream has benefited Facebook, Twitter, and recently Reddit. Cryptocurrency is even seen by Facebook as an investing opportunity. This is part of the role of social media in the future of global cryptocurrency adoption.
The effect will also function inversely: once mass acceptance is reached; another wave of social media networks will result in this. Social networking networks have given the blockchain industry several fresh qualities, and this trend will continue.
When connected to online forums, blockchain technologies and digital currency are merging developments. These online areas of debate also helped to provide initial appeal to cryptocurrencies, but also improve the general climate.
Blockchain infrastructure itself could also modify social media for the positive over
time.

Blockchains can also preserve benefits in terms of non-fungible tokens or NFTs.
These are tokens that reflect a significant value. Social media have exclusive and
collectible properties. These resources are very useful. Tokens may be used to
describe these products to make them easier to store on a wallet, not costly to sell
and exchange via an international market.

Snapchat App Crash Issue: An iOS Bug Revolved

Even the wisest scholars have said – Don’t count your chicken before they get hatched. Social media giant Snapchat may have been singing “Top of The World” after witnessing theirs in terms of numbers. Exhibit discussed this Snapchat growth through an article recently. But those numbers are currently screaming for the crashes the Snapchat app is making. Due to this, the Snapchat team had to sit back tight and tried to resolve the issue at the earliest. With this Exhibit blog, we will learn more about the Snapchat app crash issue news that was creating havoc. 

Snapchat App Login Issue

On Thursday evening, more than a quarter a million Snapchat users reported the crash issue. This crash was coming every time they tried to open the app on their smartphone. This number of people who registered a complaint triggered an immediate response from the Snapchat team end. They came up with the tweet where they stated they are aware of this issue after users addressed it. The Snapchat app crash issue broke out earlier in June month, especially in the iOS versions. The development team at that moment identified the bug and eliminated it. 

Why did the issue of crashing come?

The complaint of the Snapchat app crash issue came out after iPhone and iPad users downloaded the newest update that has arrived. After downloading the latest update, users observed this bug repeatedly every time they tried to open the application on their gadget. Hence, one needs to understand this issue has not come for Android users at all. In Android, the app is working perfectly fine without any tussle. People who are using the beta version of the Snapchat app on their iOS devices have also not faced any issues. 

Snapchat Response

The Snapchat support team quickly came with a response and started working on this front. The best part was that the problem got contained within hours to ensure that users have hassle-free usage of this social media application. However, after fixing it, Snapchat doesn’t provide the basic reason behind the crash bug. The reason could be anything. One can say that maybe the application layer was unable to load some essential files at the OS level, due to which the crash was frequently occurring. Whatever issue was there, the most probable grassroots for the bug can be that the latest update was missing something that makes the application compatible with the OS. 

Final Word

If you are an iOS gadget lover who was using the Snapchat app and was eager to report the same, you need to know that now you can sing Roy Orbison’s “It’s Over” for sure. Don’t worry, as we are not saying to think about the romantic context, but for your love for the Snapchat app.

Twitter Tests Upvote And Downvote Feature On Tweets

Twitter’s Chief Product Officer Kayvon Keykpour, last year confirmed that Twitter is ‘exploring’ the idea of adding a dislike button to the app. The social media app is now working on adding a new upvote and downvote reactions to tweets.

 

The company confirmed that it is testing the feature for a small group of iOS users through a tweet. Twitter said that the new feature might be available to the users in several different styles(up and down arrows, a heart icon, and thumbs up and thumbs down icons). The app is testing the feature to ‘understand the types of replies you find relevant in a convo, so we can work on ways to show more of them.’

 

 

However, downvotes will not be shown publicly, and the upvotes will be displayed as likes since the feature is intended only for internal metrics.
Twitter has clarified that the feature is just for research purposes and hasn’t finalised rolling it out yet. The company hasn’t yet defined how voting will affect what you see in your feed since the feature can draw parallels to Reddit. Upvoting or downvoting on Reddit is a way of surfacing a Redditor’s favourite replies, responses or posts.
Many users have noticed this similarity, including Reddit itself, who tweeted this in response:

 

 

Twitter has also recently announced that it is testing a new set of features for TweetDeck. The company is revamping its often-ignored dashboard with updates such as a full tweet composer, new advanced search features, new column types, and a new way to group columns into new workspaces.
This feature is being tested with a few US, Canada, and Australia users. The social media giant is consistently working upon bringing new and desirable changes to its app so more and more users can connect conveniently.

 

Of course, the application of these features will depend upon the reviews that Twitter gets during the research process.

Twitter Revamps TweetDeck And Shares The First Look

TweetDeck provides a column layout that allows users to keep a tab on tweets from different accounts at once. Twitter made an announcement today that it will begin testing a new set of features for TweetDeck.

The company is looking forward to revamping its often-ignored dashboard with a few US, Canada, and Australia users. Kayvon Beykpour, Twitter’s Product Head said that the updated TweetDeck would include ‘a full tweet composer, new advanced search features, new column types, and a new way to group columns into clean workspaces.’ 

Previously in an interview with The Verge, Beykpour had admitted that Twitter ‘hadn’t given a lot of love to TweetDeck recently.’ He then described the revamp as a ‘pretty big overhaul from the ground up.

Notable changes are being promised with the recent update. The new tweet composer will allow the user to add GIFs, polls, or emojis to their tweets. This will also include scheduled tweets and not just photos and videos as it was before the update. You will also be able to write threads and tag your images. 

The old column types, including Activity, Followers, Likes, and Outbox, have been removed. At the expense of these, new column types such as Profile, Topics, Explore, Events, Moments, and Bookmarks have been added. 

The new features also allow you to use Boolean queries. You can easily choose between viewing either the top tweets or the latest tweets. 

Additionally, the ‘Decks’ feature allows you to organize a set of columns into separate workspaces. It is helpful for people who want to create workspaces based on different themes or interests or if they want to organize tweets related to their clients.

Are We Getting Along?

These features undoubtedly provide many benefits, but the testers are concerned about losing the ‘Activity’ option that shows whenever someone you follow on Twitter follows another person or ‘favourites’ a tweet. The messages column is also perhaps a big miss.

Many users also complained about how it is difficult to resize the columns and the problems occurring while using it with multiple accounts. 

Remember that the feature is still in its testing stage, and there are chances of better updates when TweetDeck rolls out more broadly. Beykpour wrote in a tweet,

“Through these tests, we’re exploring how we can give people more customization and control using TweetDeck.”

Rumours also suggest that TweetDeck might become part of Twitter Blue, which is the company’s subscription service. 

 

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