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Author Topic: The History of Yahoo! - How It All Started.......  (Read 960 times)

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Offline iamsharmeen

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The History of Yahoo! - How It All Started.......
« on: October 27, 2006, 04:33:35 PM »
Yahoo! began as a student hobby and evolved into a
global brand that has changed the way people
communicate with each other, find and access
information and purchase things. The two founders of
Yahoo!, David Filo and Jerry Yang, Ph.D. candidates in
Electrical Engineering at Stanford University, started
their guide in a campus trailer in February 1994 as a
way to keep track of their personal interests on the
Internet. Before long they were spending more time on
their home-brewed lists of favorite links than on
their doctoral dissertations. Eventually, Jerry and
David's lists became too long and unwieldy, and they
broke them out into categories. When the categories
became too full, they developed subcategories ... and
the core concept behind Yahoo! was born.

The Web site started out as "Jerry and David's Guide
to the World Wide Web" but eventually received a new
moniker with the help of a dictionary. The name Yahoo!
is an acronym for "Yet Another Hierarchical Officious
Oracle," but Filo and Yang insist they selected the
name because they liked the general definition of a
yahoo: "rude, unsophisticated, uncouth." Yahoo! itself
first resided on Yang's student workstation,
"Akebono," while the software was lodged on Filo's
computer, "Konishiki" - both named after legendary
sumo wrestlers.

Jerry and David soon found they were not alone in
wanting a single place to find useful Web sites.
Before long, hundreds of people were accessing their
guide from well beyond the Stanford trailer. Word
spread from friends to what quickly became a
significant, loyal audience throughout the
closely-knit Internet community. Yahoo! celebrated its
first million-hit day in the fall of 1994, translating
to almost 100 thousand unique visitors.

Due to the torrent of traffic and enthusiastic
reception Yahoo! was receiving, the founders knew they
had a potential business on their hands. In March
1995, the pair incorporated the business and met with
dozens of Silicon Valley venture capitalists. They
eventually came across Sequoia Capital, the
well-regarded firm whose most successful investments
included Apple Computer, Atari, Oracle and Cisco
Systems. They agreed to fund Yahoo! in April 1995 with
an initial investment of nearly $2 million.

Realizing their new company had the potential to grow
quickly, Jerry and David began to shop for a
management team. They hired Tim Koogle, a veteran of
Motorola and an alumnus of the Stanford engineering
department, as chief executive officer and Jeffrey
Mallett, founder of Novell's WordPerfect consumer
division, as chief operating officer. They secured a
second round of funding in Fall 1995 from investors
Reuters Ltd. and Softbank. Yahoo! launched a
highly-successful IPO in April 1996 with a total of 49

Today, Yahoo! Inc. is a leading global Internet
communications, commerce and media company that offers
a comprehensive branded network of services to more
than 345 million individuals each month worldwide. As
the first online navigational guide to the Web,
www.yahoo.com is the leading guide in terms of
traffic, advertising, household and business user
reach. Yahoo! is the No. 1 Internet brand globally and
reaches the largest audience worldwide. The company
also provides online business and enterprise services
designed to enhance the productivity and Web presence
of Yahoo!'s clients. These services include Corporate
Yahoo!, a popular customized enterprise portal
solution; audio and video streaming; store hosting and
management; and Web site tools and services. The
company's global Web network includes 25 World
properties. Headquartered in Sunnyvale, Calif., Yahoo!
has offices in Europe, Asia, Latin America, Australia,
Canada and the United States.

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The History of Yahoo! - How It All Started.......
« on: October 27, 2006, 04:33:35 PM »