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The announcement reportedly signified a changing trend in the technology industry, as large corporations like Yahoo, Facebook, and Google acquired start-up Internet companies that generated low amounts of revenue as a way in which to connect with sizeable, fast-growing online communities.
The portal also gave users access to other Yahoo services like Yahoo!
Several key executives, such as Chief Product Officer Blake Irving, left.
On April 4, 2012, Yahoo announced a cut of 2,000 jobs or about 14 percent of its 14,100 workers.
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The cut was expected to save around 5 million annually after the layoffs were completed at end of 2012.
On May 13, 2012, Yahoo issued a press release stating that Thompson was no longer with the company, and would immediately be replaced on an interim basis by Ross Levinsohn, recently appointed head of Yahoo's new Media group. Answers, advertising, online mapping, video sharing, fantasy sports, and its social media website.However, Filo and Yang insist they mainly selected the name because they liked the slang definition of a "yahoo" (used by college students in David Filo's native Louisiana in the late 1980s and early 1990s to refer to an unsophisticated, rural Southerner): "rude, unsophisticated, uncouth." This meaning derives from the Yahoo race of fictional beings from Gulliver's Travels. Like many search engines and web directories, Yahoo added a web portal.The company struggled through 2008, with several large layoffs.In February 2008, Microsoft Corporation made an unsolicited bid to acquire Yahoo for .6 billion. According to third-party web analytics providers, Alexa and Similar Web, Yahoo!