![]() ![]() Yahoo! headquarters in Sunnyvale Growth (1997–1999) Srinija Srinivasan, an alumna of Stanford University, was hired as Yahoo!'s fifth employee as "Ontological Yahoo!" to assist Yang and Filo with organizing the content on the internet. However, the exclamation mark is often incorrectly omitted when referring to Yahoo!. ![]() Therefore, in order to get control of the trademark, Yang and Filo added the exclamation mark to the name. ![]() The word "Yahoo" had previously been trademarked for barbecue sauce, knives (by EBSCO Industries) and human propelled watercraft (by Old Town Canoe Co.). On April 12, 1996, Yahoo! had its initial public offering, raising $33.8 million by selling 2.6 million shares at the opening bid of $13 each. On April 5, 1995, Michael Moritz of Sequoia Capital provided Yahoo! with two rounds of venture capital, raising approximately $3 million. Yang and Filo sought out the advice of entrepreneur Randy Adams for a recommendation of a venture capital firm and Adams introduced them to Michael Moritz. Yang and Filo realized their website had massive business potential, and on March 2, 1995, Yahoo! was incorporated. While the domain was created in January 1995, by the end of 1994 Yahoo! had already received one million hits. Upon the April 1994 renaming of Jerry and David's Guide to the World Wide Web to Yahoo!, Yang and Filo said that " Yet Another Hierarchical Officious Oracle" was a suitable backronym for this name, but they insisted they had selected the name because they liked the word's general definition, as in Gulliver's Travels by Jonathan Swift: "rude, unsophisticated, uncouth." Its URL was /~yahoo. On July 16, former Google executive Marissa Mayer, became the CEO of the company. Former PayPal president Scott Thompson became CEO in January 2012 and after he resigned was replaced by Ross Levinsohn as the company's interim CEO on May 13, 2012. Ĭarol Bartz replaced co-founder Jerry Yang as CEO in January 2009, but was fired by the board of directors in September 2011 Tim Morse was appointed as interim CEO following Bartz's departure. In early 2012, the largest layoff in Yahoo!'s history was completed and 2,000 employees (14 percent of the workforce) lost their jobs. Yahoo! formally rejected an acquisition bid from the Microsoft Corporation in 2008. The company's stock price skyrocketed during the dot-com bubble and closed at an all-time high of US$118.75 in 2000 however, after the dot-com bubble burst, it reached an all-time low of $8.11 in 2001. Yahoo! grew rapidly throughout 1990–1999 and diversified into a web portal, followed by numerous high-profile acquisitions. The word "YAHOO" is a backronym for " Yet Another Hierarchically Organized Oracle" or "Yet Another Hierarchical Officious Oracle." The domain was created on January 18, 1995. In April 1994, Jerry and David's Guide to the World Wide Web was renamed "Yahoo!". The Guide was a directory of other websites, organized in a hierarchy, as opposed to a searchable index of pages. It was founded in January 1994 by Jerry Yang and David Filo, who were Electrical Engineering graduate students when they created a website named "Jerry and David's Guide to the World Wide Web". Please help update this article to reflect recent events or newly available information. ![]()
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