Demand Media, the online content company, said it had earned nine cents on an adjusted basis in the first quarter, on revenues of $100.6 million, topping Wall Street estimates of eight cents on $99.6 million in sales. On a fully diluted basis, earnings were one cent a share, or $700,000, compared to a loss of two cents, or $1.8 million, in the three months compared to a year ago.

“Strong growth from our owned & operated content and media properties drove our Q1 results, highlighting the unique capabilities of our content discovery, creation and distribution platform. Further, we accelerated our paid content strategy with the acquisition of Creativebug, a premier online destination for arts and crafts instruction, which will provide our large eHow crafts audience with an expanded learning experience. In addition, we signed up over 400 resellers to our new gTLD tools and received more than two million expressions of interest for domains to be registered with new gTLDs,” said Richard Rosenblatt, chairman and CEO of Demand Media in a statement. “We are excited about the distinct long-term growth opportunities for both of our businesses.”

Demand’s eHow site seems to have driven a lot of the gains in the content area.

Demand shares rose in trading yesterday by close to two percent, to close at $8.58, also its stock is down 7.6 percent for the year.

The company did not mention the planned split of its registar and content business that it announced in the last quarter in the current results, which might be covered on the conference call the Santa Monica, Calif. company will have with analysts at 2 pm PT.

In its last earnings release for the fourth quarter, Demand said it was spinning off its domain registrar business from its media one in a bid to better clarify the company to investors.

Since it went public several years ago, there has been some level of difficulty for each part of Demand to easily explain itself to Wall Street, given the very different natures of its key — but very different — revenue units. In a statement at the time, Demand said that it was “our intent to spin off our registrar business and separate into two independent, publicly traded companies.”

The company noted that the two units “divergent strategic priorities and opportunities” would be better in the new configuration with a pure-play media company and domain services company. At the time, the company said the transaction was expected to take place in the next nine to 12 months, although it required a number of company and regulatory approvals to do the tax-free spin-off to create two different stocks.

In a different kind of transaction, Demand had talked a little more than a year ago to a private equity company about taking the company private. The effort was abandoned, in which Boston-based Thomas H. Lee Partners would have purchased Demand for a price of up to $1.2 billion, due to a number of challenges. Its current market valuation is now about $744 million.

Until we hear more about the spin-off plans from Demand execs, here’s the full release from Q1 to peruse:

1Q 13 FINAL RELEASE

The latest is the video footage taken by a Massachusetts State Police helicopter of the careful way in which police approached the boat. Obviously, they were cautious, no doubt because they had engaged in a pretty intense firefight with the suspect.

What you see in the video below, which was released today, is thermal imagery showing Tsarnaev’s warm body plainly visible beneath the boat cover. In the minutes leading up to the capture you could plainly hear, on police scanner traffic, someone saying whether or not he was moving, and see his position in the front or the middle or rear of the boat as he moved around a little. Later, you see a police vehicle moving in and using a robotic arm of some kind to tear away the cover.

And if you haven’t seen this yet, it bears mentioning: It’s some amateur video, taken from a neighboring home, of the gunfight that had occurred outside the boat just as Tsarnaev was discovered. (Be advised: There’s some NSFW language as it goes down.)

Finally, here are five still photos, released earlier by the Massachusetts State Police, taken from the video footage above. You can click them to make them bigger:

Its stated purpose is protecting privacy. An unnamed focus of the bill — backed by Microsoft Corp. — is Google Inc.

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Luke Beatty, the founder of Associated Content, has been named managing director of TechStars’ Boulder, Colo., program.

Beatty, who had been an entrepreneur in residence at the start-up accelerator, had previously been a top-level content exec at Yahoo before leaving in April. The Associated Content unit had been bought by the Silicon Valley Internet giant in 2008 for $90 million.

As described on its Web site, the organization takes only 10 companies per city: “TechStars is a mentorship-driven seed stage investment program. We run a three month long program in Boston (MA), Boulder (CO), Cloud (San Antonio, TX), New York City (NY), and Seattle (WA) once each year … These companies get $18,000 in seed funding. In addition, companies accepted into the program are offered a $100,000 convertible debt note by a group of prominent VCs immediately upon acceptance into TechStars.”

“I really believe in the TechStars community-driven model and the viability of the start-up scene in Colorado,” said Beatty. “It is my good fortune to be able to work with the diverse group of successful entrepreneurs that TechStars supports — both existing and prospective.”

Added TechStars CEO David Cohen: “Luke has been a mentor here at TechStars for some time. Not only is he an amazing entrepreneur, but he’s the kind of person that digs in and goes deep. It’s obvious that he genuinely loves working with start-ups, and that makes him a natural fit here at TechStars.”

Citi terminated Mahaney today for allegedly trying to cover up a disclosure violation tied to Citigroup’s coverage of Google. The move came after Massachusetts’ securities regulator fined Citigroup $2 million for failing to supervise Mahaney and a junior analyst he oversaw.

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Rakuten, the Japanese e-commerce giant which recently made a $50 million investment in Pinterest, is making another online retail bet on Daily Grommet.

Rakuten will be the lead investor in a Series B round for the Lexington, Mass.-based online marketplace, whose motto is “fresh finds, true stories.” The site highlights a new daily product by featuring it with a story about its origin.

Daily Grommet said it would use the new funding for expansion. It declined to say how much Rakuten is investing, but the start-up has raised about $6 million since its launch in 2008.

Both Daily Grommet and Rakuten have focused on linking small and medium retailers directly with consumers, using discovery and social tools and large marketplaces. Daily Grommet was already working with Rakuten’s U.S.-based Buy.com site.

Since its start, Daily Grommet has featured about 1,000 unusual products, dubbing its platform “Citizen Commerce.”

That is more than just a catchy buzzword, said Jules Pieri, co-founder and CEO of Daily Grommet, which she likens to a Kickstarter for products.

“We are combining Main Street store shopping and journalism, trying to help products succeed and de-risk them by building distribution and awareness,” she said, noting Daily Grommet operates with the same motto of Buy.com that you buy from people and not the Internet.

Rakuten CEO Hiroshi Mikitani said he was attracted to this concept of making online retail more personal and informational than transactional.

“[Daily Grommet] has a higher mission,” he said. “We think creative curation and discovery are very important.”

Here’s the official press release about the investment:

DAILY GROMMET ANNOUNCES SERIES B FUNDING LED BY JAPANESE E-COMMERCE COMPANY, RAKUTEN

Investment Builds on Both Companies’ Missions to Empower Small to Medium Businesses to Connect Directly with Consumers via Discovery Shopping and Personal Interactions

Lexington, MA; September 17, 2012 – Daily Grommet, an online shopping site and marketing platform for innovative and undiscovered products, today announces a round of Series B funding led by Rakuten, one of the world’s largest online marketplaces. Daily Grommet plans to use the capital to further expand its highly curated e-commerce site and product launch platform.

Together, the companies provide significant benefits to one another, as Daily Grommet will allow Rakuten to advance its sourcing, curation, and storytelling capabilities and deepen consumer connections to its merchant partners. Daily Grommet has gained a large and influential following because of its proven ability to expertly source and vet high potential unknown products. Since its launch in 2008, over 1,000 products and emerging companies have been featured on DailyGrommet.com, many of which have become household names. The company’s “Citizen Commerce” movement creates connections between inventors and consumers, by enabling product purchases that express powerful contemporary values around sustainability, quality, technology and social enterprise.

“Tens of thousands of new products are launched in the U.S. every year, so it’s not hard to believe that many go unnoticed or are simply hard to find,” said Jules Pieri, co-founder and CEO of Daily Grommet. “Our goal is to bridge the gap between traditional marketing and e-commerce by connecting inventors and undiscovered companies with consumers. Their stories are heroic and inspiring and we succeed at leveling the playing field, so the best products and companies can win, not just the biggest ones. Championing the independent creator builds great trust within our community. Working with Rakuten, with its longstanding empowerment mission, will allow both of our businesses to share knowledge and collaborate on product discovery, disrupting and improving the tired old ways of launching products.”

Daily Grommet, with its online editorial and video capability, showcasing the story around a particular product, has already been proven complementary to Rakuten’s Buy.com site, as the two have worked together to help expand Daily Grommet’s reach.

Daily Grommet began using Pinterest in mid-2011 as an extension of its community sourcing for high-quality Grommet submissions. Usage of the “Finds YOU want to see featured on Daily Grommet” Pinboard continues to rise rapidly and consistently represents one of Daily Grommet’s top referral sources. In May 2012 Rakuten led a strategic round of investment in Pinterest.

“Our investment in Daily Grommet supports our overall global strategy of creating an enhanced consumer experience in e-commerce,” said Hiroshi Mikitani, CEO of Rakuten. “Particularly in light of our recent Pinterest investment, we’re excited to be working with a company that shares our view of curating new, innovative and unique products across the web and the world. Daily Grommet is a perfect fit with the Rakuten family, as its team has shown great vision and passion for launching undiscovered products and companies. Our core business model of empowering merchants aligns perfectly with the goals and vision of Daily Grommet.”

Accel Partners, Breyer Capital and Polaris Venture Partners became the newest partners in the seed-stage venture fund aimed at entrepreneurs in the Boston area.

The Experiment Fund, which already includes New Enterprise Associates, is “anchored” and was launched at Harvard University, although the famed school is not one of its funders.

New advisers were also added to the Experiment Fund, including former Harvard Law School professor and former director of the Berkman Center John Palfrey, Facebook co-founder Andrew McCollum, Massachusetts Institute of Technology researcher Hugo Liu, as well as an ex-officio post created for the current president of Harvard Student Agencies.

The fund, which AllThingsD wrote about previously, was created earlier this year by the dean of the Harvard School of Engineering.

The early-stage incubator planned then to award funding to four to six start-ups, in amounts from $250,000 to $500,000, focused on the Cambridge, Mass., area around Harvard, which includes many other schools such as MIT.

The point has been to foster innovation around the Boston area, rather than watch those start-ups head west to seek funding. In other words, to keep the next Facebook — which was born there — from moving away to Silicon Valley.

In other words: Stay east, next young Mark Zuckerberg!

The new partners are contributing more funds, although they declined to specify the amount. Breyer Capital is the personal investment company of Accel’s Jim Breyer.

As part of adding the new partners, Breyer and Polaris’ Alan Crane will become “experts-in-residence” at the Harvard School of Engineering and Applied Sciences. Breyer and Crane, by the way, both got their MBAs from Harvard.

While former Yahoo CEO Scott Thompson fades from the tech scene — besides getting jacked from the top job at the Silicon Valley Internet giant, he’s also just come off two tech boards he had served on — the investigation over his hiring and how a fake computer science degree got into the company’s regulatory filings continues.

While the quick-fire controversy burned Thompson, as well as now former Yahoo director Patti Hart, the special committee of independent board members is still at work trying to figure out how such a mess was made in the first place.

And, more importantly, who knew what when and told whom.

At the time the committee was announced, Yahoo said it would “conduct a thorough review of CEO Scott Thompson’s academic credentials, as well as the facts and circumstances related to the review and disclosure of those credentials in connection with Thompson’s appointment as CEO.”

The special committee is chaired by Yahoo’s new Chairman Fred Amoroso and includes John Hayes and Thomas McInerney, two independent directors who joined the board in April.

Yahoo also hired independent counsel Terry Bird of the law firm Bird, Marella, Boxer, Wolpert, Nessim, Drooks and Licenberg in Los Angeles to handle the inquiry.

The company also noted at the time that “the special committee and the entire Board appreciate the urgency of the situation and the special committee will therefore conduct the review in an independent, thorough and expeditious manner. The Board intends to make the appropriate disclosures to shareholders promptly upon completion of the review.”

Gripped by urgency myself, I have grown weary waiting by the phone for some official answers, which sources said will not be forthcoming for some time.

But since I am the most curious of cats — uh-oh! — I started dialing around on my own to find out what’s what.

And, according to sources — especially since Thompson has settled with Yahoo and will not get severance due to the academic falsehood — the big focus is now centering on if the company’s staff screwed up the background check of his academic credentials, thus allowing it to get into its official filings with the Securities and Exchange Commission and also on Yahoo’s corporate Web site.

When Thompson was hired from eBay, where he was president of its PayPal payments division, the online commerce company had the correct bio information in its SEC filings, although not on its Web site or in its PR materials.

The question is: Did someone from Yahoo simply rely on Web bios and not check eBay filings and did anyone ever re-check Thompson’s college records? (Note: It took me 15 minutes flat to find out he did not have such a degree at Stonehill College in the Boston area.)

If lazy checking was the case, it spells rank incompetence on the part of staffers, as well as Hart, who headed the search after Yahoo fired its previous CEO Carol Bartz last fall.

A much more troubling line of inquiry taking place is aimed at the possibility that someone at Yahoo did discover the discrepancy in Thompson’s resume and either did not report it up the chain of command or did and it was either lost or ignored or, well, worse.

While this certainly ain’t Watergate, such a situation would be very hard for Yahoo to explain away as easily to shareholders, especially potentially litigious ones. As it is always said, the coverup can often be more damaging than the crime itself.

And, if it is determined by the special committee that certain employees knew of Thompson’s resume inaccuracy, it will most certainly result in dismissals of Yahoo employees.

The focus on the committee — which truly cannot sweep this under the rug, if it occurred in this much more serious scenario — is most obviously the legal department of Yahoo, which is responsible for making certain filings are accurate.

Also under scrutiny is the quickness of the hiring of Thompson.

Among the questions is how much vetting was done and whether adequate questions about him were asked among a variety of possible sources.

When he was picked in January, Thompson was a dark-horse candidate for many, including some Yahoo board members.

In fact, he was not on the initial headhunting lists prepared by outside talent search firm Heidrick & Struggles.

That’s because Heidrick had placed Thompson at eBay in mid-2000 and could not then recommend him to Yahoo. As it turned out, Thompson took it upon himself to cold email Yahoo board member and Intuit CEO Brad Smith about the job, who then passed Thompson’s interest to Hart.

Heidrick had no involvement in the checking of Thompson, although he later blamed the firm in a public meeting with Yahoo employees for putting the error in his bio in the first place from when he was hired at eBay. Heidrick quickly called the accusation “verifiably not true” in a memo to its own employees.

Sources said that meant that the firm had a resume that Thompson had submitted to it that also contained the error.

But the central mystery of how that mistake appeared on his bio will likely remain just that without further explanation from Thompson.

In a radio interview in 2009, he did not correct a specific question about the twin degrees he appeared to have held and seemed to even agree with the show’s host, Moira Gunn, about them.

Later, she told me in a video interview that Thompson had clearly indicated to her in the prep for that interview that he indeed had a computer science degree.

Still, it is still not clear — and may never be — who put the faux computer science credential on his resume in the first place.

So, with all apologies to Winston Churchill: It might remain a riddle wrapped in a mystery inside an enigma.

On March 25, 2009, Yahoo CEO Scott Thompson — when he was then president of PayPal — appeared on the TechNation radio show to talk about the revival of the eBay payments unit.

At the end of the largely charming interview, Moira Gunn asked him a direct question about his college degrees, specifically noting they were in accounting and computer science.

“Your bachelor’s degree is in accounting and computer science. Now, from both of those, I mean that’s, that’s pretty obvious that’s PayPal,” said Gunn. “What are the most important things you learned?”

“Yeah,” begins Thompson, failing to correct her at all on the fact that he does not actually have a computer science degree — only one in accounting.

He then went even further, touting his early tech training at Stonehill College, near Boston, which did not offer a computer science degree at the time he went there, from 1975 to 1979.

“And that’s really the background that I have, and it started back in my college days, and I think that’s really the wonderful part of being an engineer is you think that way,” said Thompson.

In the most generous interpretation, it’s not quite clear whether Thompson was saying “Yeah” to her statement of his academic credentials, or if he was not actually listening.

But it’s a careless oversight on his part not to have corrected her about the degrees, which could also be said about a computer science degree being present on his bio for more than a half-dozen years at eBay and later at Yahoo without some notice by him.

Because while Thompson has had a long career as a tech exec, as well as a stint as a CIO, academically speaking, a computer science degree did not happen in his college days nor did he graduate as an engineer.

That became apparent earlier today, when Yahoo confirmed that it included inaccurate information about Thompson’s academic background on its Web site and in its regulatory filings.

The admission came after activist shareholder Dan Loeb of Third Point correctly asserted that Thompson’s resume was overstated related to his education.

Yahoo called the inclusion of the computer science degree on his bio an “inadvertent error,” but gave no other explanation as yet. Tonight, the Yahoo board said it was reviewing the matter and would then make appropriate disclosures afterward.

While it is entirely possible that Thompson did not correctly grok what Gunn was saying, it seems pretty clear that he implied his college background was in tech and he was an engineer.

It is true that Thompson did take some computer science classes at Stonehill. And it is entirely possible that he thinks of himself as an engineer by work training and not by college degree.

I am awaiting comment from Yahoo PR, which has its hands full today (welcome to the circus, Amanda!).

Until then, here is the actual audio of that part of the interview and the pertinent part of the transcript, which began at the 26:33 time on the audio, to judge for yourself:

Gunn: Your bachelor’s degree is in accounting and computer science. Now, from both of those, I mean that’s, that’s pretty obvious that’s Paypal. What are the most important things you learned?

Thompson: Yeah. You know, I think and I, I mention this to young kids when I’m on campus, and my son who I was just talking about at Santa Clara, what I’m happiest about in my background is if you work in technology you’re trained to solve problems.

And that’s really it, you’re trained to pull apart very complex things and think about okay, how can I do this or how can I do that or how can I make it better?

And that’s really the background that I have and it started back in my college days, and I think that’s really the wonderful part of being an engineer is you think that way.

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Yahoo just released a statement that its board will “review” today’s revelation that the bio of its CEO Scott Thompson contained an error related to his educational achievements and will make “appropriate disclosure” about what happened.

On both the Web site and in the regulatory filings of the Silicon Valley Internet giant, Thompson is described as having a degree in both computer science and accounting from Stonehill College.

He does not have a degree in computer science from the Boston-based school, but does have a Bachelor’s of Science in Business Administration (Accounting).

Yahoo said in full in its statement:

“In connection with the statement the company made earlier today about Scott Thompson, the Yahoo! board will be reviewing this matter, and upon completion of its review, will make an appropriate disclosure to shareholders.”

Earlier today, Yahoo first blamed the issue on an “inadvertent error” — but provided no further details — which sources said did not sit well with the board.

“Many members of the board are deeply concerned,” said one person with knowledge of its thinking. “This is a problem on a lot of levels, especially related to the trust of shareholders.”

Indeed, especially since the news came to light via activist shareholder Dan Loeb of Third Point, who is agitating for board seats via a proxy fight.

Loeb’s efforts to impugn Thompson appear to have caused some level of damage, at least in terms of perception about the level of vetting that was done when the former president of eBay’s PayPal unit was hired earlier this year.

In fact, the error has been around for a half-dozen years, which begs the question of why Thompson never noticed it.

While his bio on filings made by eBay to the Securities and Exchange Commission were accurate, the one on the online commerce site’s Web site incorrectly said he had a computer science degree.

It is not known who introduced the error there.

But the inaccuracy moved inexplicably to both Yahoo’s corporate Web site and also its SEC filings, and the company declined to provide any details earlier today as to how that happened.

It’s not clear what happens next, or if there are any legal implications, beyond a needed correction by Yahoo with the SEC — which already took the entire line about Thompson’s education off his Web bio today.

As I wrote earlier today:

Thompson himself is probably not at risk unless it can be definitely proved he was the one who misrepresented having the degree in the first place. He can simply say he had no idea who added it to the eBay Web site and that he did not notice it there on the Yahoo Web site and SEC filings.

While that makes him look careless, how big a deal it becomes with shareholders, as well as Yahoo employees, is also an unknown. While a computer science degree is not a requirement for a CEO of a tech company — both Facebook’s Mark Zuckerberg and Microsoft’s Bill Gates dropped out of college and did pretty well in computer science anyway — tech resume padding, even inadvertent, is not a characteristic that is going endear Thompson to anyone.

The controversy could not have come at a worse time — Thompson was actually in meetings all day yesterday and today with senior staff, following recent layoffs of 2,000 and a massive restructuring, to discuss plans for moving the long-troubled company forward.

And besides the proxy fight, he is also dealing with selling off Yahoo’s Asian assets, renegotiating a new search deal with Microsoft, and also trying to figure out what parts of Yahoo to keep and what parts to jettison to improve its prospects.

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Back in early 2008 when Scott Thompson got the job as president of eBay’s PayPal, the regulatory filing accurately listed his educational pedigree:

“Mr. Thompson holds a B.S. degree in Accounting from Stonehill College.”

The eBay filings over the next several years — until he left the online commerce giant for a much bigger job as CEO of Yahoo in January of this year — remained consistent.

But, curiously, Thompson’s bio on eBay’s Web site added an additional degree to his curriculum vitae for more than a half-dozen years, different from its Securities and Exchange Commission documents:

“Scott received a bachelor’s in accounting and computer science from Stonehill College.”

As it turned out, according to the Boston-area school, he had not gotten a computer science degree at all and graduated with the Bachelor’s of Science in Business Administration (Accounting).

An eBay spokesman I called today had no explanation for the discrepancy, except to note that its legal filings were correct and that it was an error due to the lack of cross-checking the Web bio, which was apparently posted by Thompson’s staff at the time.

Also without explanation — and perhaps more seriously — is that the false computer science degree claim somehow then made it into Yahoo’s SEC filings, as well as his Web site bio, when Thompson took the helm. (The inaccurate line about his schooling is in its latest filing and all others.)

Without providing further explanation of how it got there, Yahoo today called the mistake an “inadvertent error” and said it had no bearing on his ability to lead the Silicon Valley Internet giant.

But the long troubled company might be speaking too soon, given that the revelation was uncovered this morning by activist shareholder Dan Loeb of Third Point. Loeb has called into question the vetting process that Yahoo’s directors did to hire Thompson, as part of a proxy fight he is waging to gain several board seats.

And, while such an allegation is normal for an increasingly nasty battle, Loeb has hit his mark with deadly accuracy this time, putting into question both Thompson’s credibility and Yahoo’s obvious botching in its vetting of him.

“If there is a good explanation for the apparent discrepancies regarding the academic records of Mr. Thompson and Ms. Hart, we are confident that it will be provided promptly,” wrote Loeb in a letter to Yahoo’s board today. “However, in the event that there is no good explanation, we expect the Board to take immediate action.”

The Ms. Hart that Loeb was referring to is Patti Hart, the board member who ran Yahoo’s process for hiring a new CEO after it fired Carol Bartz — who does have a CS degree — last year. (In his letter today, Loeb also correctly called into question how she portrayed her own college degree in a more impressive fashion than was accurate.)

The search for a new Yahoo CEO was conducted by headhunter Heidrick & Struggles, which did not have Thompson on its list of candidates, since it had placed him at eBay many years before.

In fact, according to numerous sources, without involvement by Heidrick, it was Thompson who cold-emailed key Yahoo board members, nominating himself for the CEO job. He was quickly brought in for interviews and, presumably, a thorough vetting.

Despite that and despite the fact that eBay’s SEC filings did not list a computer science degree, Hart or others seem to have totally missed the discrepancies and it was added to Thompson’s official Yahoo bio and legal filings.

It’s not clear what happens next or if there are any legal implications, beyond a needed correction by Yahoo with the SEC — which already took the entire line about Thompson’s education off his Web bio today.

Yahoo’s not talking either, with its spokesperson declining to provide any explanation for its lapse or who had maintained that Thompson had that degree when he did not.

It’s essentially a mistakes-were-made-let’s-move-on defense.

I think not, for my part, and a number of prominent Silicon Valley people I spoke to today agreed that these issues tend to spin out of control.

“This is going to get very messy, very quickly,” said one person in a common sentiment I heard.

Maybe, and it’s not clear if the company has to release any details of how this occurred or if its board needs to investigate the situation.

In addition, Thompson himself is probably not at risk unless it can be definitely proved he was the one who misrepresented having the degree in the first place. He can simply say he had no idea who added it to the eBay Web site and that he did not notice it there on on the Yahoo Web site and SEC filings.

While that makes him look careless, how big a deal it becomes with shareholders, as well as Yahoo employees, is also an unknown. While a computer science degree is not a requirement for a CEO of a tech company — both Facebook’s Mark Zuckerberg and Microsoft’s Bill Gates dropped out of college and did pretty well in computer science anyway — tech resume padding, even inadvertent, is not a characteristic that is going endear Thompson to anyone.

Plus, it just handed Loeb a very potent weapon in his fight against Yahoo, the very day after the company said the hedge fund manager’s expertise was not “relevant” to gaining a board seat.

One thing’s for sure: Loeb is most certainly very good at vetting.

RELATED POSTS:

• Yahoo’s Parting With Thompson Will Be for “Cause” (a.k.a. CSLie)
• Ross Levinsohn’s Yahoo Plan: Back to the Future
• Here’s New Yahoo CEO’s First Note to Troops! (The Leaking-Internal-Memos-to-ATD Policy Remains in Effect As Usual)
• Yahoo Officially Confirms ATD Report on CEO Changes and Proxy Settlement
• Meet the Man I Call “The Hair”: The Video Stylings of Yahoo’s Newest CEO Ross Levinsohn
• Will Thompson’s Ouster Mean a Yahoo-Facebook Patent Settlement Too?
• Exclusive: Yahoo’s Thompson Out; Levinsohn In; Board Settlement With Loeb Nears Completion
• Heidrick & Struggles Slaps Back at Thompson’s Yahoo in Blame Game Over ResuMess
• Is He In or Is He Out? Crunchtime for Scott Thompson at Yahoo.
• Not So Scott Free? Yahoo’s Other Big Shareholder — Cap Re — Leaning Toward Supporting Loeb Over Thompson ResuMess.
• Tech Nation’s Gunn Says She and Yahoo CEO Discussed Their CS Degrees Before 2009 Show (Video and Audio)
• Loeb Calls Again for Thompson Firing From Yahoo, as Former eBay Boss Supports Him
• Place Your Bets: Will Loeb Drop Another Bomb on Yahoo at Vegas Confab Later Today?
• Exclusive: Yahoo Director in Charge of Botched CEO Vetting to Step Down From Board
• CEO Says Sorry to Yahoos for Borked Bio “Distraction” — But Will Mea Culpa Work Without an Apology for Error? (Memo)
• Buffett Comments on Trust Issue in Yahoo CEO BioGate: “You’ve Got a Problem”
• Loeb Lobs Lawsuit, as Expected, at Yahoo’s Borked Bio Mess
• As Yahoo CEO Reaches Out to Top Staff, Board Meets to Weigh “Options” (I.E., Deciding Who Gets to Take the Borked Bio Blame)
• Yahoo Should Expect Incoming Lawsuit Lobbed by Loeb Tomorrow on CEO Hiring
• They Shoot Yahoo CEOs, Don’t They? But Not Without a Really Smoking Gun and a Much Stronger Board.
• Yahoo’s Thompson Asks Employees to “Stay Focused” — Except Not on Him
• In 2009 Interview, Yahoo CEO Does Not Deny He Has a CS Degree, and Calls Himself an “Engineer” (Audio)
• Yahoo’s Board Will “Review” Resume Discrepancy of CEO
• How Did a Phantom CS Degree Get on CEO’s Bio in SEC Filings? Yahoo’s Not Saying.
• Yahoo’s Response on CEO’s Computer Science ResumeGate: “Inadvertent Error”
• Dan Loeb Alleges “Discrepancies” on Yahoo CEO Scott Thompson’s Resume Related to Computer Science Degree

A Yahoo spokesperson just confirmed as accurate allegations from an activist shareholder Dan Loeb of Third Point that its CEO Scott Thompson did not have a computer science degree from Stonehill College as claimed on his bio and also in regulatory filings.

He does not, a mistake that the Silicon Valley Internet giant is calling an “inadvertent error.”

Except this is a mistake that goes back more than a half-dozen years, as it is also on the Web site bio at eBay, where he served as president of its PayPal payments unit and its CTO before that.

(Update: Yahoo just removed the line about Thompson’s college degrees from his Web site bio entirely.)

While Yahoo sought to underplay the controversy, it could become a serious issue for Yahoo, both from a credibility and regulatory compliance issue.

It would also call into question — as Loeb does in the letter — the amount of vetting done by Yahoo on the CEO choice, which was conducted by board member Patti Hart.

It gets worse: Loeb also alleged that Hart changed her degree from Illinois State College from business administration to a loftier economics and marketing. And Yahoo admitted it was so, noting the director had a business administration degree, with a specialty in economics and marketing — whatever that means.

But, incompetent vetting by Hart aside, it is how and why Thompson changed his resume that will be at issue.

Here’s one fact that is true: Thompson only has an accounting degree from Stonehill College, near Boston, which he attended from 1975 to 1979.

(Second Update: Stonehill also confirmed that Thompson’s degree was only a Bachelor’s of Science in Business Administration (Accounting).)

Here is, in fact, a screenshot of an alumni newsletter when Thompson got the job at Yahoo earlier this year:

Despite the mistake, however it was made and which presumably serves to burnish Thompson’s tech cred, Yahoo said in a statement that it does not diminish his qualifications to lead the tech company.

Said the statement in full:

“Scott Thompson’s degree at Stonehill College was in bachelor science in accounting. There was an inadvertent error that stated Mr. Thompson also holds a degree in computer science. This, in no way, alters that fact that Mr. Thompson is a highly qualified executive with a successful track record leading large consumer technology companies. Under Mr. Thompson’s leadership, Yahoo! is moving forward to grow the company and drive shareholder value.”

Here’s the definition of inadvertent, for those who don’t know:

1. failing to act carefully or considerately; inattentive
2. resulting from heedless action; unintentional inadvertently

I’d say it’s going to turn out to be a lot more than that, but we’ll see what the board of Yahoo and, ultimately, shareholders, have to say.

(And, ironically, just yesterday Yahoo wrote a letter to shareholders claiming that Loeb did not have “relevant” expertise to be on its board. Turns out, he’s definitely pretty good at vetting.)

RELATED POSTS:

• Yahoo’s Parting With Thompson Will Be for “Cause” (a.k.a. CSLie)
• Ross Levinsohn’s Yahoo Plan: Back to the Future
• Here’s New Yahoo CEO’s First Note to Troops! (The Leaking-Internal-Memos-to-ATD Policy Remains in Effect As Usual)
• Yahoo Officially Confirms ATD Report on CEO Changes and Proxy Settlement
• Meet the Man I Call “The Hair”: The Video Stylings of Yahoo’s Newest CEO Ross Levinsohn
• Will Thompson’s Ouster Mean a Yahoo-Facebook Patent Settlement Too?
• Exclusive: Yahoo’s Thompson Out; Levinsohn In; Board Settlement With Loeb Nears Completion
• Heidrick & Struggles Slaps Back at Thompson’s Yahoo in Blame Game Over ResuMess
• Is He In or Is He Out? Crunchtime for Scott Thompson at Yahoo.
• Not So Scott Free? Yahoo’s Other Big Shareholder — Cap Re — Leaning Toward Supporting Loeb Over Thompson ResuMess.
• Tech Nation’s Gunn Says She and Yahoo CEO Discussed Their CS Degrees Before 2009 Show (Video and Audio)
• Loeb Calls Again for Thompson Firing From Yahoo, as Former eBay Boss Supports Him
• Place Your Bets: Will Loeb Drop Another Bomb on Yahoo at Vegas Confab Later Today?
• Exclusive: Yahoo Director in Charge of Botched CEO Vetting to Step Down From Board
• CEO Says Sorry to Yahoos for Borked Bio “Distraction” — But Will Mea Culpa Work Without an Apology for Error? (Memo)
• Buffett Comments on Trust Issue in Yahoo CEO BioGate: “You’ve Got a Problem”
• Loeb Lobs Lawsuit, as Expected, at Yahoo’s Borked Bio Mess
• As Yahoo CEO Reaches Out to Top Staff, Board Meets to Weigh “Options” (I.E., Deciding Who Gets to Take the Borked Bio Blame)
• Yahoo Should Expect Incoming Lawsuit Lobbed by Loeb Tomorrow on CEO Hiring
• They Shoot Yahoo CEOs, Don’t They? But Not Without a Really Smoking Gun and a Much Stronger Board.
• Yahoo’s Thompson Asks Employees to “Stay Focused” — Except Not on Him
• In 2009 Interview, Yahoo CEO Does Not Deny He Has a CS Degree, and Calls Himself an “Engineer” (Audio)
• Yahoo’s Board Will “Review” Resume Discrepancy of CEO
• How Did a Phantom CS Degree Get on CEO’s Bio in SEC Filings? Yahoo’s Not Saying.
• Yahoo’s Response on CEO’s Computer Science ResumeGate: “Inadvertent Error”
• Dan Loeb Alleges “Discrepancies” on Yahoo CEO Scott Thompson’s Resume Related to Computer Science Degree

The gloves are now really off in the proxy battle for Yahoo.

In a letter to Yahoo’s board, activist shareholder Dan Loeb of Third Point is alleging that the company’s new CEO Scott Thompson has inaccurately added a computer science degree to his resume.

(Update: Yahoo confirmed that Loeb is correct about Thompson not having such a degree and called it an “inadvertent error.”)

Thompson went to Stonehill College, near Boston, from 1975 to 1979, according to his LinkedIn profile, but it does not specify his degree.

(Second Update: Stonehill College also confirms that Thompson only graduated with a Bachelor’s of Science in Business Administration (Accounting).)

And older bios, such as one from his director bio for F5 and one from Forbes, as well as a Stone Hill College alumni newsletter, note that he graduated only with a Bachelor’s of Science in accounting.

But in official bios from his job at eBay as head of its PayPal payments division, as well as on the current Yahoo one, a degree in computer science also appears, along with the accounting degree.

“Scott received a bachelor’s in accounting and computer science from Stonehill College,” read the Yahoo and eBay bios. It is also in Yahoo’s regulatory filings.

According to Loeb’s letter:

Upon recognizing this discrepancy, Third Point initially assumed that the documents we had reviewed were incorrect and the representations in Yahoo!’s public filings were accurate. However, we were then informed by Stonehill College that Mr. Thompson did indeed graduate with a degree in accounting only. Furthermore, Stonehill College informed us that it did not begin awarding computer science degrees until 1983 — four years after Mr. Thompson graduated. We inquired whether Mr. Thompson had taken a large number of computer science courses, perhaps allowing him to justify to himself that he had “earned” such a degree. Instead, we learned that during Mr. Thompson’s tenure at Stonehill only one such course was even offered — Intro to Computer Science. Presumably, Mr. Thompson took that course.

I am awaiting a call back from Stonehill about Thompson’s degree, which the college is checking now. And I called Yahoo for comment and also am waiting for that, too.

If Loeb’s allegations are true and Thompson burnished his resume to add educational expertise to lend him more tech credibility, it could become a serious issue for Yahoo.

It would also call into question — as Loeb does in the letter — the amount of vetting done by Yahoo on the CEO choice, which was conducted by board member Patti Hart.

It gets worse: Loeb is also alleging that Hart changed her degree from Illinois State College from business administration to a loftier economics and marketing.

(Update: Loeb is correct. Yahoo said Hart has a degree in business administration, with a specialty in economics and marketing — although I am not sure what that means exactly.)

But Thompson’s educational pedigree is the main issue here, of course, and Loeb is calling for his head if explanations are not provided.

“If Mr. Thompson embellished his academic credentials we think that it 1) undermines his credibility as a technology expert and 2) reflects poorly on the character of the CEO who has been tasked with leading Yahoo! at this critical juncture. Now more than ever Yahoo! investors need a trustworthy CEO,” said Loeb in the letter.

But read it for yourself — here is the full letter from Loeb:

Third Point Letter to Board May 3 Release

RELATED POSTS:

• Yahoo’s Parting With Thompson Will Be for “Cause” (a.k.a. CSLie)
• Ross Levinsohn’s Yahoo Plan: Back to the Future
• Here’s New Yahoo CEO’s First Note to Troops! (The Leaking-Internal-Memos-to-ATD Policy Remains in Effect As Usual)
• Yahoo Officially Confirms ATD Report on CEO Changes and Proxy Settlement
• Meet the Man I Call “The Hair”: The Video Stylings of Yahoo’s Newest CEO Ross Levinsohn
• Will Thompson’s Ouster Mean a Yahoo-Facebook Patent Settlement Too?
• Exclusive: Yahoo’s Thompson Out; Levinsohn In; Board Settlement With Loeb Nears Completion
• Heidrick & Struggles Slaps Back at Thompson’s Yahoo in Blame Game Over ResuMess
• Is He In or Is He Out? Crunchtime for Scott Thompson at Yahoo.
• Not So Scott Free? Yahoo’s Other Big Shareholder — Cap Re — Leaning Toward Supporting Loeb Over Thompson ResuMess.
• Tech Nation’s Gunn Says She and Yahoo CEO Discussed Their CS Degrees Before 2009 Show (Video and Audio)
• Loeb Calls Again for Thompson Firing From Yahoo, as Former eBay Boss Supports Him
• Place Your Bets: Will Loeb Drop Another Bomb on Yahoo at Vegas Confab Later Today?
• Exclusive: Yahoo Director in Charge of Botched CEO Vetting to Step Down From Board
• CEO Says Sorry to Yahoos for Borked Bio “Distraction” — But Will Mea Culpa Work Without an Apology for Error? (Memo)
• Buffett Comments on Trust Issue in Yahoo CEO BioGate: “You’ve Got a Problem”
• Loeb Lobs Lawsuit, as Expected, at Yahoo’s Borked Bio Mess
• As Yahoo CEO Reaches Out to Top Staff, Board Meets to Weigh “Options” (I.E., Deciding Who Gets to Take the Borked Bio Blame)
• Yahoo Should Expect Incoming Lawsuit Lobbed by Loeb Tomorrow on CEO Hiring
• They Shoot Yahoo CEOs, Don’t They? But Not Without a Really Smoking Gun and a Much Stronger Board.
• Yahoo’s Thompson Asks Employees to “Stay Focused” — Except Not on Him
• In 2009 Interview, Yahoo CEO Does Not Deny He Has a CS Degree, and Calls Himself an “Engineer” (Audio)
• Yahoo’s Board Will “Review” Resume Discrepancy of CEO
• How Did a Phantom CS Degree Get on CEO’s Bio in SEC Filings? Yahoo’s Not Saying.
• Yahoo’s Response on CEO’s Computer Science ResumeGate: “Inadvertent Error”
• Dan Loeb Alleges “Discrepancies” on Yahoo CEO Scott Thompson’s Resume Related to Computer Science Degree

According to sources close to the situation, Demand Media was deep into discussions with a private equity firm to complete a deal that would have taken the online content company private, nearing a price that was double its current value.

But Demand abandoned the effort this past week — which was born from an aggressive attempt by Boston-based Thomas H. Lee Partners to purchase the company for a price of up to $1.2 billion. That was due to a number of challenges, including complications related to its financing and the ability to retain executives in its aftermath.

The move on Demand by private investors is perhaps no surprise, and is part of a wider trend related to some Internet companies whose stocks have a depressed value relative to the worth of their assets.

Among companies having been and also being evaluated by private equity firms, whose business it is to turned the undervalued into a goldmine: Yahoo and AOL.

And also Demand, which is now worth only $605 million, a market cap that is off 65 percent since it went public in February 2011. Shares now trade at $7.25 each.

That depressed share price has been due to a number of issues, most especially changes to Google’s search algorithm to improve results. Called Panda, the changes at the search giant — a critical partner of Demand’s — has cut traffic to its major content sites and also called into question its ability to monetize its scaled editorial efforts.

Such a situation is nearly irresistible to PE firms — in this case, Lee, which approached Demand.

Several sources said that the board threw out a hefty number that it assumed would shut down any interest and the pair began talking with an initial offer to take the company private at $11.28 a share.

That equals close to $1 billion for Demand, which also has more than $100 million in cash. But sources said Lee and Demand also discussed the addition of a large loan as part of the ongoing discussions, for possible acquisitions related to a content roll-up strategy it had, which would bring the total up to $1.2 billion.

One source underscored that the board of the Santa Monica, Calif., company had no interest or intention to sell the business, but that the premium was large enough that it engaged.

The deal from Lee, which also included a strategy of splitting up the content arm from Demand’s lucrative domain-registar business.

There were also large cash-out provisions for major shareholders, as well as for CEO and co-founder Richard Rosenblatt.

Thus, the two sides engaged intensely in the last several weeks in crafting an agreement, although the devil would prove to be in the details.

One big issue is that taking Demand private was still a big financial commitment for Lee — which tried to engage some of its limited partners in the transaction — as well as other investors, including Silicon Valley’s Marc Andreessen.

That proved harder than Lee thought, said sources, with some balking at the firm’s ability to make a big enough score on the possible turnaround.

“It was hoped it would be a Skype situation, but there were worries,” said one source, referring to the blockbuster sale of the Internet telephony company by private investors to Microsoft for $8.5 billion last year. That deal was widely considered a PE home run, given the excessive premium paid for it.

Demand’s challenges increasingly worried the firm as it moved forward, sources said, causing it to reevaluate its earlier bid several times.

Also a worry: Retaining major talent, including Rosenblatt and others, after they sold large chunks of their equity.

After Lee asked for more time to complete the financing, Demand ended the talks last week.

Another source, as is typical in these endings, said it was the Lee that walked away (who knows and, really, who cares — both sides were engaged seriously).

One thing was true: “Demand was definitely at the altar, but it did not get to the vows,” said one source.

Another source noted that the board also determined that Demand’s situation was improving, and that new trends are showing that the bottom might be been reached. The company reports its first-quarter earnings on May 8, which is expected to show some traction related to its many challenges.

“There is nothing Lee could do that Demand could not do for itself,” said one person. “So throwing in the towel seemed premature for now.”

Lee declined to comment, as did Demand.

Earlier today, Harvard University and New Enterprise Associates announced the Experiment Fund, aimed at making sure that future Mark Zuckerbergs and Bill Gates can stay on campus and innovate without having to head West.

The irony of the pair of legendary entrepreneurs dropping out — decades apart — of the even more legendary university to start two of tech most significant companies, Facebook and Microsoft.

No longer, apparently.

The early-stage incubator, which will award funding to four to six start-ups in amounts from $250,000 to $500,000. It will focus on seed ventures in the Cambridge, Mass. area around Harvard, which includes many other schools such as the Massachusetts Institute of Technology.

The Experiment Fund came from an idea born Harvard’s School of Engineering and Applied Sciences, which involved NEA. Today, SEAS Dean Cherry Murray hosted an event that unveiled the initiative.

But, while faculty members will advise for the fund, Harvard has no financial stake.

In an interview NEA’s Patrick Chung said the intent was to enable talented students to “build a company here in Boston rather than have to go elsewhere.”

NEA will have full-time staffers working on the fund, investing in a wide range of companies. It has already backed a health app company, as well as a live Internet television offering.

“There has been an envy of the left coast, certainly,” said Chung. “Now, these talented engineers don’t have to leave when they reach the boundaries of the university where the ideas are formed.”

Added Chung: “They can walk right out of class and into a place that can make those start-ups real.”

In other words, let’s hope the third time’s a charm.

Here’s the map of exactly where the Experiment Fund is and official press release:

XFund press release

Yahoo actually let me talk with its new CEO Scott Thompson this morning, after the company announced it had hired him as its latest leader.

In an interview, the man who is leaving a job running eBay’s large and lucrative PayPal online payments unit was affable and — dare I say it — seemed very sweet, as well as gung ho on Yahoo’s prospects going forward.

Joking about how he took the job only because eBay and Yahoo are located close by each other in Silicon Valley and the commute was just as easy, Thompson opened by noting that those working at the online commerce giant have always had a “keen appreciation for what each other was doing.”

He said that when he was approached in November about the Yahoo job, although sources said it was just offered this week and took eBay by surprise.

Still, soon after being contacted by Yahoo’s exec recruiters, Thompson said he began “exploring in more detail what’s actually here.” As he did so, he added, he “became progressively more fascinated” that Yahoo had more promise than has been assumed in recent years.

“Its potential is still enormous, but the dialogue has not been about what the company is,” Thompson said. “I want to get this wonderful brand to where it could be again … so, as a starting point, this is a great starting point.”

Thompson’s premise is based on his belief that we are still in the early days of the Internet. And, because he is a Boston native — making him, of course, an ardent fan of its beloved Red Sox — he used baseball as a metaphor.

“It’s early innings, and there are the next eight innings in front of us,” he said, noting that he was in the stands with his father when catcher Carlton Fisk hit that famous game-winning home run in the 12th inning of the sixth game of the World Series in 1975.

Note to everyone who is not an obsessive fan like Thompson (and also, I might add, Walt Mossberg): It did take the Red Sox from 1918 to 2004 to actually finally win the Series again, so maybe Yahoo has a chance!

“This remains a great business, and I have no doubt its best days are ahead of Yahoo,” said Thompson, in that same hopeful spirit of this-year’s-gonna-be-the-one.

Thompson noted that he is fully cognizant of the major troubles at the company recently, and had a “real sense of urgency, but not by moving at breakneck speed, because you just do bad stuff faster.”

Instead, he said, he hopes to focus Yahoo the same way he did PayPal, by innovating, making commitments and keeping them, and overperforming.

None are easy tasks, and all have stymied Yahoo in the recent past. Thompson said that he thinks it might be because of not focusing equally on both consumers and Yahoo’s partners and advertisers.

He admitted that his lack of advertising experience was clear — it could be problematic, because it’s Yahoo’s biggest business — but said, “I readily admit what I don’t know, and am ready to learn and rely on Yahoo’s great team.”

While he would not go into deep specifics — Thompson does not start until next week — he said he planned to get some basic grounding, noting, “I have no preconceived notions.”

One thing is clear, said Thompson: “I can assure you I am going to be completely different.”

If that means doing what Fisk did, that would certainly be a home run for Yahoo.

This morning, Yahoo said it had hired PayPal President Scott Thompson as its newest victim, oops, CEO.

(You can read my interview with him too, here.)

AllThingsD.com had reported the pending development last night — which is how we roll here.

Now we will roll into the conference call on the matter, and are hoping that the head of the lucrative eBay payments unit will make an appearance, given that he does not start until next week.

One piece of advice I will extend Thompson: I would refrain from cursing, as previous Yahoo CEO Carol Bartz did on her first outing. (She was fired in September, although not precisely for the cussing she so enjoyed partaking in.)

Here we go!

7:02 am: It’s on, with Thompson present.

Yahoo Chairman Roy Bostock begins, and he is “very excited, very excited.”

I’d be very excited if Thompson talked and not Roy, who has been to this particular Yahoo CEO rodeo a few too many times before.

Bostock is making promises that this time it’s going to be different. Really!

He also notes that the company will continue its “strategic review” — but who knows what that means now.

And he thanks Tim Morse, the interim CEO who is moving back to the CFO job. (Agreed — nice work, Tim!)

7:06 am: Scott Thompson is on and is “just thrilled” to be the new Yahoo CEO.

I like his accent, which seems like he might be from Boston. He does look and sound like Cliff Clavin, the mailman guy at the Beantown bar from the television classic “Cheers.”

Except, given he has been the darkest of dark horses in this CEO race, nobody knew Thompson’s name.

Thompson is saying all the right stuff, about wanting to increase shareholder value and such.

He sounds so hopeful! Urgency! Thoughtfulness! A bright new morning at Yahoo!

I have been to this rodeo before too, but I am still hoping this time it’ll work.

Scott, if you let me down, I might cry, because you sound so nice.

7:09 am Q&A time already.

Congrats from the Wall Street analyst peanut gallery.

Then, it’s right into a question for Bostock, about the progress of the Asian assets deal.

Also, is Thompson too much of a technologist and not a media dude?

Bostock wants to talk about only Scott, but notes that there will be “no slowdown and no delay” in the Asian process. And Thompson will be all onboard when he comes on board, folks.

Bostock sounds tired, but starts to talk about how a “great customer experience” is the key to the advertising business. He notes that Thompson knows how to do this, hence he’ll be fantastic.

“I have every expectation he’ll be out there calling on advertisers,” says Bostock. I would hope so, given that is where Yahoo makes most of its lettuce.

Bostock is saying Yahoo has been “treading water” and now needs to swim fast. Treading water? I wonder who the top honcho at Yahoo has been while the company has been listlessly dangling its legs in the drink?

Roy — that’s who!

7:15 am: Another analyst asks about margins.

Thompson is not having any of it! He is polite when asking for time to get on the job to make proper statements.

But he does focus on the need to build “great, innovative” products. True, but Yahoo has been incredibly unable to do this of late.

Thompson gives no specifics, though. My big idea: I would steal the self-driving car from Google.

7:17 am: A question about what the core of Yahoo is, and about what lessons Thompson is bringing from his experience at PayPal.

Well, he has not met the team — literally. Yahoo’s board consulted almost no one in the top ranks of execs on this appointment.

But Thompson “suspects” there is talent there. Given the recent attrition, he’ll need a big Inspector Clouseau magnifying glass to find it!

From eBay’s PayPal, he says that the key was balancing the customer experience with network effect and, well, blah, blah, blah Internet-speak.

I am still thinking shoplifting the self-driving car is the bestest idea.

7:20 am: A question about Yahoo’s display business versus Google.

Thompson notes it is too early for him to say — though he had better say soon! — but notes that data is key. He is a well-known by-the-numbers guy, and that is clearly where we are going at Yahoo, now that he is the big dog.

Thus:

“The data these Internet businesses create, the ability to use analytical technology to build a better businesses for your customers … I feel certain that wealth of data is going to be exploitable for next generation products, next generation experiences … My instinct says down in that data we’re going to be able to find ways to compete and innovate that the world hasn’t seen yet.”

I am really liking this accent, which is almost lulling. And so polite! Sources tell me that being “collaborative” was a big goal in this hiring.

7:22 am: A question about the identity of Yahoo, and whether it should be public or private.

Thompson harps on the need for innovation, and hopes it will be the future.

“I would not be here if I didn’t think it was possible,” says Thompson.

Bostock takes the public/private question. Yahoo will be public, he declares! Mostly, because it would be too pricey to take private.

“It’s a moot point,” he says.

7:25 am: More questions about what Yahoo is.

Thompson declines to run off the rails on this dicey one, but he says he believes that Yahoo has great assets.

It does. It’s just that it has been crashed many times — by the people who just hired him — right into a wall.

Just sayin’ — a self-driving car would have done a better job.

7:27 am: A brain-drain question, and more on Asia and on mobile.

Bostock butts in again. He said that Thompson will not be distracted by that, and will concentrate on the core business. Hush up, Roy.

Thompson says that he looks forward to meeting the peeps of Yahoo. (’Cuz he has not, as yet!)

He also loves mobile — which Yahoo has largely borked.

7:32 am: A content strategy question. Early days, so Thompson is still keeping his yap shut.

In this, he’s like the anti-Bartz. Is this good? It’s certainly different.

He says again that, “I can’t wait to meet” everyone at Yahoo. Vice versa, because this dude came from left field.

Thompson promises that he will be a “sponge.”

He closes by noting that he is “genuinely excited,” and says he believes in Yahoo.

Indeed, when it comes to Yahoo, you definitely gotta have faith.

Well-known online advertising exec Frank Weishaupt, who recently ran North American marketplaces for Yahoo, will join ad display performance firm Criteo to head up sales.

Weishaupt, who left Yahoo several months ago, will be based in Boston and will be hiring up to 100 salespeople. He’ll report to another former top Yahoo sales exec, Criteo President Greg Coleman.

Interestingly, one of the pair’s most pressing challenges going forward will be the recent move of Yahoo to block “retargeting” firms.

In a post last week, Peter Kafka wrote that Yahoo told Criteo and others that “it would stop selling them its ‘Class 2’ remnant inventory, which the companies used to purchase on behalf of clients and essentially resell at a premium. The idea, theoretically, is that Yahoo will sell more of those ads itself.”

Here’s the official press release:

CRITEO TAPS FRANK WEISHAUPT AND EXPANDS FOOTPRINT; OPENS BOSTON OFFICE

Leading online advertising performance platform expands US presence with Boston office and hires Former Yahoo! digital media veteran

PALO ALTO, CA — (NOVEMBER 14, 2011) – Criteo, the global leader in performance display today announced that Frank Weishaupt, former Vice President, North American Advertising Marketplaces at Yahoo!, will join the company as SVP of Sales. The company also announced the continued expansion into the US Market with the opening of an office in Boston, which will focus on sales and service to mid-market advertisers and publishers. With offices in over three continents, Criteo now employees over 400 employees while serving personalized ads on behalf of over 1200 e-commerce clients across 20 countries globally.

“Criteo is committed to bringing performance to the display advertising landscape,” said Greg Coleman, President of Criteo. “I am thrilled to have Frank, a true industry veteran with a very successful track record of scaling sales organizations, join the team to continue our momentum. Our goal at Criteo is to bring our solution to a wide variety of advertisers and publishers, and Frank will be focused on helping meet that objective.”

As a 15 year digital media veteran, one of Weishaupt’s key priorities will be to build a sales organization in Boston focused on mid-market advertisers and publishers. Weishaupt has been a key part of exponential growth for several of the world’s most influential digital media companies.

“Criteo has created a name for itself as the global leader in performance display advertising. I am excited to have joined a company that is committed to growth and a team with such passion to drive this industry forward,” said Frank Weishaupt, SVP of Sales at Criteo.

Prior to joining Criteo, Weishaupt held several key management at Yahoo! over a 10-year period. Most recently he had General Management responsibilities for the US Display, Search, and Ad Technology businesses. The focus of the role was overall monetization strategy, pricing and yield management, strategic direction of the Yahoo! Ad Network, and general management of the ad platforms and global exchange.

Weishaupt holds a bachelor’s degree in engineering from Northeastern University.

Criteo is hiring and looking for team members to join the global leader in performance online advertising marketing.

There’s a culture out here where people don’t commit to doing things. I feel like a lot of companies built outside of Silicon Valley seem to be focused on a longer-term. You don’t have to move out here to do this.

— Facebook co-founder and CEO Mark Zuckerberg, in an interview this weekend at Y Combinator’s Startup School event, noting that he would have stayed in Boston if he were founding the social networking site all over again.

Akamai president David Kenny has stepped down after a year on the job — and in the midst of Yahoo’s CEO search, where his name has come up as a possible replacement for fired CEO Carol Bartz.

Kenny is also a Yahoo board member — joining early last year — and had quickly become one of the major forces in pushing for change at the company in the wake of the troubled Bartz regime.

In a statement distributed along with Akamai’s Q3 earnings, Kenny said he wants to “to return to my first passion of pursuing emerging opportunities on the consumer Internet.”

You can decide for yourself whether Yahoo represents an “emerging” opportunity or something else.

Sources said the departure from the networking company was mutual, although there has been an increasing amount of tension over Kenny’s involvement on the Yahoo board, which has been working on a massive strategic review.

Kenny, who was the initial leader of the effort, stepped down from that board task and also recused himself from any involvement in the simultaneous search for a new CEO.

Whether he will get the job is not a done deal by any means. He is among several candidates Yahoo has been contemplating pursuing, after only recently hiring Heidrick & Struggles for its executive search.

In fact, it’s not entirely clear Kenny wants to be CEO of Yahoo or if he would want to return to his roots at a consumer advertising agency. Another issue: He currently lives in Boston.

Before coming to Akamai, he was managing partner of VivaKi, the media and digital arm of marketing giant, Publicis Groupe. He came to the French concern after it bought relationship marketing services firm Digitas, which Kenny ran.

All that advertising experience is one of the reasons he is being looked at by Yahoo, which is contemplating doubling down in online advertising platforms and products if it does not sell.

Many assumed that Kenny’s move to the Web platform company meant that it would become more actively involved in Web media itself. But Akamai didn’t make any major moves or acquisitions during his tenure.

Meanwhile, back at Akamai, Kenny’s title will be assumed by CEO Paul Sagan, who had previously served as president as well.

Andy Miller (pictured here), the high-profile VP of mobile advertising at Apple, is planning on leaving the company, according to sources close to the situation.

Sources said Miller — who sold Quattro Wireless, the mobile advertising company he co-founded in 2006, to Apple in early 2010 for $275 million — will become a general partner at Highland Capital, the Boston-based venture firm that had funded Quattro.

Apple will search for a replacement for Miller, whose staff was told of the impending departure today.

Since Miller got to Apple, he has reported directly to its CEO and co-founder Steve Jobs, who noted after the acquisition:

“We tried to buy a company named AdMob, but Google came in and snatched them from us. So we bought Quattro, and they are teaching us. We are making ads that are different than anything I’ve ever seen.”

But Apple’s ad aspirations have been a bit of a bumpy road, as the company has tried to fine-tune the offering, even as competition — from Google, Facebook and a range of start-ups — has increased in the fast-growing space.

Not surprisingly, Apple shut down Quattro in favor of its much ballyhooed iAd platform a year ago. Via iAd, Apple has promised to serve up interactive rich-media ads on iPhone and iPod touch apps.

Some marketers balked at Apple’s tight control over iAds and their high prices, but recently the company has tried to give Madison Avenue more flexibility.

That’s because, while still small, mobile advertising will be a huge market. As The Wall Street Journal recently reported: “Marketers spent just $743.1 million on mobile ads in the U.S. in 2010, up 79% from $416 million in 2009, according to research firm eMarketer.”

At Highland, Miller will be working on a range of digital investments from its Silicon Valley office, sources said, and not just in the mobile space.

He has a varied background: Miller worked for mobile content company m-Qube and also WatchPoint Media, an interactive television start-up.

I have contacted Apple PR for a comment, but have not yet heard back.

In an unusual appointment for the longtime public servant, former U.S. Treasury Secretary Larry Summers will join Silicon Valley venture powerhouse Andreessen Horowitz as a part-time “Special Advisor.”

Summers got to know the firm with an assist from Facebook COO Sheryl Sandberg, who was a student of his when he was a professor at Harvard University.

Summers was later president of Harvard, as well as director of the White House National Economic Council in the Obama administration until late last year.

“I am doing this because I feel technology in general and information technology in particular is now having a real pervasive macroeconomic impact in our time,” said Summers in a phone interview this afternoon from his home in Boston. “Long after people have lost their memory of the dramatic financial crisis in recent years, they will remember what technology has done to transform our economy in these same years.”

Summers said he increasingly wanted to become closer to this important trend and thought he could contribute to the innovation in Silicon Valley by helping its portfolio companies better understand the global economy.

He was introduced to Andreessen Horowitz at first by Sandberg, who was also Summers’ chief of staff while at the Treasury Department, and was attracted to its investment philosophy.

“They have distinctive elements of strategy that seemed to be a good fit, such as their emphasis on market disruption,” said Summers. “They also have an audacity of the vision and were really supporting transformation.”

Summers said he would serve as an advisor to Andreessen Horowitz companies, focusing on global opportunities they should take advantage of.

He will not become a VC, though. “My life to date has been as a professor and public servant, so I am not in a position to be a major investor,” said Summers.

That said, Marc Andreessen quickly noted in the interview that “if Larry brings in a company, we are going to take a serious look at it.”

While he was not a partner, Andreessen said Summers’ compensation would be linked to the long-term performance of the firm.

Summers will travel between Massachusetts and the West coast, but will also continue to work on outside projects.

What he will not be doing is giving any long-winded economic lessons to entrepreneurs in Silicon Valley.

“I am not sure there is the attention span for some of my lectures out there,” he joked.

Here is Andreessen’s blog post about the Summers appointment:

Meet Larry Summers, Our New Special Advisor

By Marc Andreessen

Today I’m delighted to announce that economist and former US Treasury Secretary Larry Summers is joining our team as a part-time Special Advisor.

A lot of people already know who Larry is, but here are the highlights of a remarkable career to date:

* Admitted to MIT at age 16, originally to study physics — clearly our kind of nerd.

* Became tenured professor of economics at Harvard at age 28, where he first started mentoring a young undergraduate named Sheryl Sandberg, who ultimately became his chief of staff at the US Treasury.

* Received John Bates Clark Medal for his research at age 38, one of the two most prestigious awards in the field of economics (the other is the Nobel).

* On the staff of President Reagan’s Council of Economic Advisors in 1982-1983. (For those of you too young to remember, Reagan was a noted Republican.)

* Undersecretary for International Affairs and then Deputy Treasury Secretary for President Clinton between 1993 and 1999. Intimately involved in resolving major macroeconomic crises in Mexico, Russia, and elsewhere. Became US Treasury Secretary in 1999.

* President of Harvard from 2001 to 2006.

* Until late 2010, served as President Obama’s director of the White House National Economic Council.

* And, most importantly, a pivotal character in the recent movie “The Social Network”.

Larry will be an advisor to our firm and our entrepreneurs on several topics:

First, as technology continues its relentless colonization of broad swaths of the global economy, Larry will help us understand the scope and nature of the opportunities in front of us and our industry.

Second, many of our companies are seeking to restructure and revolutionize various markets — such as telecommunications, advertising, entertainment, education, health care, and financial services — and Larry will help us and our entrepreneurs analyze and understand the economics and dynamics of those markets.

Third, Larry’s deep insight into global economics and geopolitics will be highly useful to our companies that intend to expand globally — which is to say, all of them.

According to the New York Times, “Years ago, Henry Kissinger suggested that Mr. Summers be given a White House post in which he was charged with shooting down or fixing bad ideas.” We can’t arrange that, but we are excited to have him on our team, both to do that and to contribute lots of new ideas to us and to our companies.

Here’s what’s happening at Myspace, the troubled social networking site owned by News Corp.:

It’s for sale, as has been widely reported, along with that intent being declared recently by top company execs.

It’s hired Allen & Co. to sort out potential buyers and other options, as has also been reported.

It’s hardly begun the process and is pretty much at square one, which means making lists, sorting out inquiries both crazy and valid and lining up its proverbial ducks for Myspace.

What it’s not doing is taking bids via press release, as happened in a decidedly odd fashion last week when MocoSpace, a Boston-based mobile social networking site, issued one.

Titled “MocoSpace Reveals Itself As Interested Party to Potentially Acquire Myspace,” the look-at-me attempt to suck up some attention from the media was riveting and appalling at the same time.

“MocoSpace, the largest entertainment destination on the mobile Internet, is today announcing their interest in acquiring Myspace from News Corp.,” read the press release.

And, of course, in the email from its PR rep: “Their CEO [Justin Siegel] is revealing their interest and is available to chat with you to discuss why.”

While an amusing tactic, All Things Digital declined the generous offer.

Soon enough came another PR entreaty: “Wanted to provide the update that today Newscorp contacted MocoSpace and they are now in conversation.”

Oh, really? So, BoomTown phoned some sources there close to the situation and found them very perplexed at that characterization.

One source laughed at the gumption behind the MocoSpace press release, although added that the company was very much wanting to dispose of Myspace in the best possible way.

“No legitimate offers ignored,” said the source, who said a sale was more likely than bringing in new investors to recapitalize it. “But nothing has happened yet.”

Another source noted that the company had only sent an acknowledgement to MocoSpace, as it did for anyone who expressed any interest.

MocoSpace was kind enough to send me these emails, including one from News Corp. deal exec Jack Kennedy, which was entirely rote and referred Siegel to Allen & Co. “to fill you in w/respect to how the process may develop.”

Added another source: “Nobody at this point that can be considered ‘in conversation.’”

Oops!

Thus, more email spin from MocoSpace PR: “We never said that Newscorp contacted MocoSpace first. After MocoSpace released their statement, Justin Siegel did receive an email from Newscorp.”

And: “It seems that you may have misunderstood my email when I said they were ‘in conversation.’ I simply meant that after MocoSpace made their intention public, Newscorp did contact them–hence ‘in conversation.’

And: “I did not mean to imply that they were in any sort of negotiating conversation–if that is something that you took from the email, it was an assumption, and I am sorry for any confusion in the wording there.”

How ever could I be confused after all this mishegas?

Finally, Siegel weighed in via email, noting in part:

“It’s been brought to my attention that there’s some confusion and frustration….In addition, I’d like to clarify that this was/is not a publicity stunt. We made our interest in MySpace public. The interest it’s generated is surprising. To every person I’ve spoken to directly, I’ve made it clear that I’ve had no direct conversation with either MySpace or Newscorp regarding the sale.”

Like I said, no sale. Yet.