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The name Yahoo brings a feeling of nostalgia because it is probably one of the oldest mailing messengers. Jerry and David Filo founded the platform in 1994. And since the last 27 years, it has lessened our workload in some way or the other.
We would discuss aspects ranging from the growth of the company to its downfall. Therefore, stick to the blog to trace out the journey of the forgotten platform.
History of Yahoo.
Jerry and David were both still at Stanford University when they thought of creating something that would help the world communicate easily.
In 1994, people were hardly concerned about the addresses. The people in that era often got irritated with the search engines that existed. Search engines like WHOis and Gopher required various pre-requisites for a simple search, like registering a domain. Such conditions disabled access to the databases to people who lacked sound knowledge of technology.
Jerry & David came up with a solution to such problems with the introduction of Yahoo. In the starting phase, the site was named Jerry Yang and David’s Guide to the World Wide Web. But with the exponential growth in the user database, it was renamed Yahoo! in April 1994. The full form is Yet Another Hierarchically Organized Oracle.
People liked the concept of the unique search engine at the first glance.
It was solely because it filled the void of a search engine in the 1990s. The review section at that time was flooded with only positive reviews and suggestions. Such user-business interaction facilitated valuable feedback and ultimately a sustainable growth.
At the starting of 1995, Yahoo started to serve 200,000 pages daily. Slowly it gained immense popularity and hit a big period. A preliminary social contribution and international development were next on the cards. By the end of 1996, the former tech giant had sites in the United Kingdom, Germany, France, and Japan. And various services like Yahoo UK came into existence.
Initially, company was free from any competitors and managed to grow smoothly. At the starting of the millennial era, it started to lose its position. Companies like Web Crawler and Lycos started to dominate the market, owing to the various features. But somehow, the administrative heads devised strategies to tackle the two companies mentioned above.
The odds started to turn against them in the 2000s.
In 1998, Larry Page and Sergey Brin, then undergraduates from Stanford University, officially started Google. This was a turning point in the history of the Development of Search Engines and a broader aspect for the whole world.
We’ve shortlisted the three major reasons that helped Google dethrone the company and become the most used Search Engine.
1. Google had a simpler User Interface(UI) as compared to Yahoo in the early 2000s.
2. They emphasized the categorization of searches, which at times cause inconvenience to the users. On the contrary, Google didn’t focus on such an algorithm and concentrated on rankings to get the best results.
3. Google figured out how matching ads to search keywords and provide ads and search results could work most effectively for advertisers while not bothering users.
Addition of features.
In 1998, it was decided to add various features to provide better services.
● Besides email assistance, a wide range of services got introduced.
Yahoo Sports, Yahoo contacts, and Yahoo music became some of the most commonly used services.
● The Yahoo mail comprises benefits like Yahoo answers.
● It has a depository ability of 25 GB.
This facilitates users to store data on the cloud and access it anywhere without a storage device.
● Another important feature is that it takes supervision of the privacy of its users. It provides a platform that considers all privacy limitations.
● The customer service is highly flexible. Whenever you have some query or doubt, you can contact the customer service.
How did Yahoo expand?
Yahoo became one of the biggest tech companies during the 1990s and early 2000s.
It was solely because of the void filling of a search engine that in 1996, they launched its IPO.
And in two years, the price of the stocks grew exponentially.
Acquisitions and mergers by the company aimed at deriving or enhancing a current product.
The acquisition of companies like Broadcast.com, Launchcast, and Geocities in the late ’90s helped the company to grow financially.
The strategies and methodologies in the 1990s and 2000s were way ahead of their time.
Products like Yahoo! music developed a market for online music streaming platforms.
Furthermore, the company invested heavily in emerging startups and technologies. In its initial years, Alibaba, the Chinese E-commerce and Technology company, bagged an investment of one billion dollars in 2005.
There is no doubt that Yahoo was one of the best services that started in the ’90s. It paved a roadmap for the current tech giants like YouTube and Instagram through Broadcast.com and Flickr.
Several privacy breaches from 2013 to 2015, Strong competition by Google, and weak leadership led to its declination. Even after Verizon Media’s acquisition, a considerable amount of people still prefer using services offered on the platform.
As of October 2020, it had more than 200 million active users on the email assistance every month in 2020.