Afternoon Reading: Yahoo's Got That Urge to Merge Again
Yahoo (YHOO) isn’t just selling, it is looking to buy, too.
The Internet web search and ad company’s chief technology officer, Ari Balogh, told the Reuters Global Technology Summit that Yahoo is looking to buy companies that will enable it to become a bigger player in social networking and revamp its family of products.
Balogh’s statements shouldn’t come as a complete surprise. Social networking remains a growth business, albeit one that has been hard to monetize. Yahoo has had it shares of stumbles trying to enter the space. In the past few years, the company has shut down or essentially shut down two of its previous forays into the business–Yahoo Mash and Yahoo 360, according to paidContent.org. Yahoo also fell short in its attempt to buy Facebook for around $1 billion three years ago.