Yahoo’s board of directors has reportedly approved a deal to buy New York-based blogging service Tumblr for $1.1bn and a formal announcement is expected as early as Monday.
Yahoo to axe 2,000 jobs
Yahoo has announced the axing of 2,000 jobs, almost a seventh of its workforce, as it continues to struggle against rivals Google and Facebook. Chief Executive Scott Thompson said the cuts were an important next step towards a new, smaller, more profitable Yahoo better able to innovate.
Jerry Yang resigns from Yahoo!
Jerry Yang, co-founder of Yahoo!, has resigned from its board. Yang founded the company in 1995 with David Filo and was its chief executive from June 2007 until January 2009.
Delicious acquired by AVOS
The social bookmarking service Delicious has been acquired from Yahoo by AVOS, a company started by YouTube founders Chad Hurley and Steve Chen. This from Yahoo:
A big ‘Ooops’
Yahoo inadvertently deleted a wrong account – and 4,000 odd photos – and seem unable to retrieve them. It is not the actual photos that is the problem for the account holder, he wisely had the photos backed up on his computer, it is the fact that he has lost the links from other people to his work. And the …
Now Size does matter
Nicholas Size, a researcher at the technology firm Yahoo, has calculated the two-quadrillionth (that’s the 2,000,000,000,000,000th) digit of pi. When expressed in binary it is, wait for it….0.
Jerry Yang to step down as Yahoo CEO
Jerry Yang, co-founder of Yahoo, has decided to step down as the internet portal’s chief executive officer. Yang has come in for a lot of criticism recently and Yahoo shares have dropped accordingly, now valued at around $10. Earlier this year, he fought off a hostile takeover bid by Microsoft, turning down a $33 per share offer. Negotiations with Google …
Microsoft withdraws Yahoo offer
Microsoft has given up the idea of trying to buy Yahoo after its latest, increased bid was rejected.
Yahoo given deadline by Microsoft
Microsoft has given Yahoo a three-week deadline to respond to its offer to buy out the internet company for $44.6bn (£22.3bn). If they get no response from Yahoo then Microsoft intend to take the matter directly to the shareholders and let them decide. Microsoft made their unsolicited bid for Yahoo on January 31st 2008, but Yahoo’s board rejected it as …