Yahoo Inc is looking to buy companies that will allow it to become a bigger player in social networking and revamp its family of products, Chief Technology Officer Ari Balogh said on Wednesday.
"It's a good time to be buying now," he told the Reuters Global Technology Summit, pointing to valuations that have come down from levels six to nine months ago. While declining to give specific names, Balogh said Yahoo has had conversations with companies about partnerships and "more interesting" possibilities, such as on building out its platform and basic computing in addition to search.
"I can guarantee you there will be some acquisitions, and we will do some stuff in-house," Balogh, who is executive vice president of products at Yahoo, said by videolink.
Yahoo will introduce new products this fall that will give users a more unified experience across its network of websites and showcase the company's strategy to grow again, after much of 2008 was marred by the failed deal talks with Microsoft Corp.
Yahoo is striving to revive its fortunes as sales decline because of the recession and competition from other Web heavyweights, including Google Inc and Facebook. While conceding that Google has "won the game" of search as we know it today, Balogh says search will be about much more than "10 blue links" in the future. "The thing I will tell you is that, core to great experiences for people online may not necessarily be this version of search," Balogh said. "I believe search is going to be far richer...there's a whole other round or two to go in the search game and that's where we intend on playing.
The future of Yahoo's Internet search business is a big question for investors. Yahoo Chief Executive Carol Bartz and Microsoft CEO Steve Ballmer have talked about partnering on search, according to a source familiar with the matter. Balogh said any decision about a search deal was up to Bartz and Yahoo's board. But he said that whatever happens, Yahoo will continue to invest in its own search capabilities. Balogh said search technology is a vital part of the consumer experience that Yahoo delivers, "and having leading edge scientists and technologists who understand search technology and where search is going is critical to Yahoo."
Source: http://buzz18.in.com/news/biz/yahoo-eyes-acquisitions-social-media/133072/0
"It's a good time to be buying now," he told the Reuters Global Technology Summit, pointing to valuations that have come down from levels six to nine months ago. While declining to give specific names, Balogh said Yahoo has had conversations with companies about partnerships and "more interesting" possibilities, such as on building out its platform and basic computing in addition to search.
"I can guarantee you there will be some acquisitions, and we will do some stuff in-house," Balogh, who is executive vice president of products at Yahoo, said by videolink.
Yahoo will introduce new products this fall that will give users a more unified experience across its network of websites and showcase the company's strategy to grow again, after much of 2008 was marred by the failed deal talks with Microsoft Corp.
Yahoo is striving to revive its fortunes as sales decline because of the recession and competition from other Web heavyweights, including Google Inc and Facebook. While conceding that Google has "won the game" of search as we know it today, Balogh says search will be about much more than "10 blue links" in the future. "The thing I will tell you is that, core to great experiences for people online may not necessarily be this version of search," Balogh said. "I believe search is going to be far richer...there's a whole other round or two to go in the search game and that's where we intend on playing.
The future of Yahoo's Internet search business is a big question for investors. Yahoo Chief Executive Carol Bartz and Microsoft CEO Steve Ballmer have talked about partnering on search, according to a source familiar with the matter. Balogh said any decision about a search deal was up to Bartz and Yahoo's board. But he said that whatever happens, Yahoo will continue to invest in its own search capabilities. Balogh said search technology is a vital part of the consumer experience that Yahoo delivers, "and having leading edge scientists and technologists who understand search technology and where search is going is critical to Yahoo."
Source: http://buzz18.in.com/news/biz/yahoo-eyes-acquisitions-social-media/133072/0
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