Last night, the New York Times dropped a juicy little tidbit into its everything-but-the-kitchen-sink daily update of the board mishegas at Yahoo around the deliberations yesterday over two competing private equity bids to buy a partial stake in the company.

No, not the one about Jeff Jordan — former eBay exec, OpenTable CEO and now VC at Andreessen Horowitz — possibly taking a big role at Yahoo if the firm’s bid with Silver Lake prevailed — which was mysteriously removed very soon after it posted (’cuz he will not, so good move, NYT!)

I mean the one about the venture firm’s big-kahuna partner, Marc Andreessen — who will indeed take a board seat and play a strong role in Yahoo’s future if his bid wins — getting a possible competitor in the Silicon Valley savior section of the ongoing show.

That would be in the form of Reid Hoffman, the well-known entrepreneur, VC and angel investor, who the Times said had talked with TPG Capital, Silver Lake’s rival in the Yahoo bidding, about becoming a possible partner.

Wrote the Times:

“TPG has held discussions with Greylock Partners, another venture capital firm, about a possible alignment, two people said. TPG is hoping to draw on the expertise of Reid Hoffman, one of Greylock’s partners and the founder of the professional social network LinkedIn, these people said.”

Translation: If Silver Lake has a tech icon of substance on its team to give uber-geek appeal to its offer — dagnabbit — then TPG was going to raise with another one, whom the very same Times reporter who wrote last night’s article recently nicknamed “The Start-Up Whisperer” in a recent glowing profile of Hoffman.

While I am still trying to grok what a start-up whisperer exactly means (and how someone as self-effacing as Hoffman would react to such a twee moniker without snickering), it’s a move that has likely already irritated Silver Lake.

After all, TPG aiming at nabbing Hoffman is akin to two crazy neighbors trying to one-up each other in holiday-lighting lawn decor. (You have a singing Santa, so I’ll have a singing Santa — and I might even add a Lady Gaga-themed crèche for good measure!)

But it’s not a bad instinct, either, to get your own live-action Silicon Valley legend, even if it is only half true in Hoffman’s case.

Because, according to sources who know such things, while Hoffman and TPG have had conversations, there have been no commitments, and nothing is close to being agreed on to link the pair.

That could certainly change, and quickly, but Hoffman or Greylock aren’t currently in TPG’s proposal to Yahoo.

That’s in contrast to Andreessen, who is all in (I am not even going to bother with “sources said” here, since everyone and my mother has seen the proposal) with Silver Lake on the deal to purchase 19.9 percent of Yahoo for about $16.50 a share.

As I reported earlier this week, for Silver Lake’s money and expertise in fixing broken things, the bid includes: Silver Lake getting three board seats; cash going to a buyback of stock or granting of a dividend to shareholders; the ability to select a CEO; approval of its strategic plan for Yahoo, and its solution to come to terms with Yahoo’s unhappy Asian partners; and all the purple wearables you could ever hope for (perhaps Yahoo’s best asset, IMHO, especially worn by such obviously cool dudes, as seen here).

Also, controversial Yahoo co-founder Jerry Yang gets to stay around on the board (but only if he becomes very, very quiet, so as not to rile the activist shareholders).

TPG’s bid is less formed, although its price is slightly higher. And the PE firm has yet to check the “Big Geek Included” box.

Hence, the floating of Hoffman as a contender to take on Andreessen, who was once dubbed the “Golden Geek” by Time magazine.

I hope TPG does, soon, since what a matchup it would be!

But, for now at least, the pair — who share big investments in a range of Web companies, most especially Facebook (Andreessen is on the board of the social networking giant, and Hoffman was an early investor and adviser) — are at peace.

Dagnabbit.

At least once a day, BoomTown gets a call from investors, analysts or other troublemaking types–you know who you are!–wondering why Yahoo is still plugging away in search.

With a declining market share in the arena and a search technology outsourcing deal with Microsoft, it’s not a bad question to ask.

But Yahoo begs to differ, introducing a new feature called Yahoo Search Direct at a press event in San Francisco today.

I liveblogged it, natch.

10:14 am: I was late, as per usual, but walked in just as the session was getting started.

Yahoo’s Chief Product Officer Blake Irving–looking fetching in a purple cashmere sweater–was talking about search.

He immediately turned it over to Shashi Seth, Yahoo’s head search dude, who immediately said: “Answers not links.”

Huh?

Actually, the product is pretty nifty, showing a lightning-speed box that shows more robust search results, although not unlike offerings from both Microsoft’s Bing and, of course, Google Instant.

While both have different takes, it is essentially a direction in which search brings in maps, photos, and–of course–advertising.

You can see a movie times example here (click to make the image larger):

10:23 am: Wait, it was over before it started! Whoa. No more bells and whistles?

And I still was enjoying Irving’s sweater and I wanted to touch it, but that would have been wrong.*

Seth then took questions from the reporters.

“We believe the next generation of search…people are looking for answers,” he said.

Very true, but perhaps not so much from Yahoo anymore.

Still, Yahoo Search Direct is a laudable try and it’s also nice to see some innovation from the long-troubled company.

“We are the premier digital media company,” said Seth, parroting a new description of Yahoo that the Silicon Valley company is now using since its recent sales meeting in San Antonio.

I asked a question about whether there is a dedicated app for the tablet of Yahoo Direct Search, which sources had also told me was shown to the troops in Texas.

Yep! It will be ready later this year.

I also asked about how much all this search innovation was costing compared to return on the investment.

No answers from either Irving or Seth.

Someone then asked if there would be a lift in market share from the feature.

That’s the plan, Stan!

10:41 am: More questions about the comparisons to Google Instant. Of course, it’s the same type of thing, in the contest to win the King of Relevancy crown among consumers.

Google Instant. Yahoo Search Direct. Quora. My dentist, who seems to know everything. In case you didn’t know, dentists are very erudite.

Seth noted that even though Yahoo has only 15 categories covered in Yahoo Search Direct, there will be hundreds to come, as well as more features on top of this feature.

Personally, I want my search delivered to me on a silver tray by a man in a purple cashmere sweater.

Speaking of purple, the demo dude kept putting Elizabeth Taylor into the query box, which depressed me. Violet eyes now closed forever.

That was the real story today.

As if to round out the event, someone asked whether critics are right about whether Yahoo should still be in search.

“We’re in this for good,” said Irving firmly.

“Look, we are not focused on the past,” added Seth, who was not here in this very room at a similar Yahoo search event years ago, when similar promises were made about search going away from a page of blue links. “I don’t even know if you’d call it search in three years.”

What would you call it then?

“Find,” joked Irving. And later, “It’s actually ‘found.’”

Apparently, Yahoo was lost and now is found via Yahoo Search Direct.

*By the way, I touched the sweater, which was–in fact, Blake–periwinkle, which is a twee version of purple.

(You can see a video interview I did with Seth after the demo here.)

A new $10 million micro-venture fund, led by former Yahoo top engineering exec Ash Patel–called Morado Ventures and funded by a group largely made up of ex-Yahoos–is about to launch, according to sources close to the situation.

Expected limited partners in Morado, which means “purple” in Spanish, include former Yahoo CEO Terry Semel, former COO Dan Rosensweig and former advertising sales head Greg Coleman. Ex-Yahoo President Sue Decker is also considering investing, said sources.

Purple, of course, is Yahoo’s color.

Interestingly enough, the fund–which has not officially closed yet–is also likely to include Yahoo’s two founders Jerry Yang and David Filo, both of whom are still at the company.

Both will be limited partners and will not make investment decisions. In addition, Morado has no affiliation with Yahoo.

(Still, BoomTown would love to have been the fly in the room when Yang and Filo told current Yahoo CEO Carol Bartz about it!)

Patel will also be joined at Morado by Mike Marquez of investment advisory firm, Code Advisors, although he will also remain at Code.

Sources said the small fund, which is similar to an angel group, will focus on early-stage start-ups in the Internet consumer arena, as well as in the platform space.

Patel (pictured here)–a 14-year Yahoo veteran whose last job at the company was as EVP for Product Architecture & Strategy–certainly has experience in these areas.

He took a sabbatical from the company last November, but never really returned.

Sources said Patel has been doing some of his own investing since then, but was eager to involve himself with start-ups.

While ironic in many ways–the kinds of innovative companies that Morado will likely be investing in are just those that have put the slower-moving Yahoo in just the situation it finds itself in today–it’s a great idea for a fund run by longtime operating execs.

And while many execs from a variety of Silicon Valley companies have become VCs, angel investors and such, this gathering of former execs from the same company is definitely one to watch.

(Plus, BoomTown is guessing the parties will be fun too.)

I am sure I will be chatting with Patel in the future, but here is a video interview I did with him in late 2008 about the launch of some open and social networking initiatives at Yahoo (Former SVP Tapan Bhat, who had once reported to Patel, is also in the video):

Although it’s not news that Yahoo has been readying a new version of its homepage and has spent a lot of time doing so–in fact, it’s gone all Handy Manny with a whole lot of test renovations–the Internet giant begins the massive rollout of it tomorrow.

The official launch of what was code-named “Metro,” which Yahoo had previously said was coming in the fall, will take place on an opt-in “beta” basis for the hundreds of millions of users in the U.S. and will be extended to France, the U.K. and India later this week.

When users log in, they will get a choice–for now, there will be no forcing it–to switch over to the new version, which Yahoo’s Tapan Bhat, SVP of Integrated Consumer Experiences, said in an interview with me today by phone, is the “the most fundamental change to the homepage ever.”

And, indeed, the new look is much different, even than previous launch candidates, featuring an almost complete rejiggering of the look and feel of the most important page at Yahoo (YHOO) and one of the most trafficked on the Internet.

The change is an important one for Yahoo, since its front page is perhaps its most powerful calling card to users and advertisers, as well as to Wall Street. Its homepage gets 330 million unique visitors every month.

Yahoo has redone its homepage many times since its founding in the mid-1990s (you can see the various incarnations of it here), but this new design is perhaps the most dramatic.

(See screenshots of the new regular page and one with a Facebook app featured below; click on the images to make them larger.)

The most striking change is a prominent left-side “My Favorites” area, with 65 specially designed applications that users can customize, including giving a quick hovering glimpse of email, stocks and of third-party sites like Facebook.

Not quite a dashboard or exactly a social networking page, it feels a little as if Yahoo took a browser tab or a toolbar, put it in a vertical format and gave it some great functionality.

Full disclosure: All Things Digital, as well as several other Dow Jones news properties, are in its special alphabetical apps gallery, although I had no idea it would be there.

Yahoo also allows users to create such widgets on the fly from most any Web site and they can have up to 36 apps on the homepage.

There is advertising in the boxes that pop up when hovering over these apps, which is a way of dealing with the issue of purposely sending users away from Yahoo rather than keeping them there. It is a much better version of that trap.

“We want to be the center of people’s lives online and want to do it in an open, innovative way, all while providing a compelling experience,” said Bhat. “It marks the beginning of a renaissance of Yahoo, a renaissance where every pixel matters.”

After looking over the history of Yahoo’s homepages since 1994 (see them all here), it has pretty much told a story of a site with increasingly smaller font sizes and more stuff packed on it.

“It had nothing to do with the user, but what Yahoo wanted the user to do,” said Bhat, rather frankly.

Thus, he said, everything going forward will focus on what the user wants, which, he explained, essentially boils down to a “my world” and “the world” outlook.

In the my-world bucket: Email, favorite Web sites, stock info. In the the-world: General news, search, what’s hot.

But, unlike its highly customized MyYahoo product, Bhat said that Yahoo wanted to make it easier for users to create a page where “there is destination for everything you are about in just a click or two.”

The programmed “Today” module remains, although users can indicate which kind of information–finance, news, entertainment–gets top billing.

The module is also localized, depending on the user.

“We wanted to provide broadcast and narrowcast in one place,” said Bhat.

That includes updating status, right from the homepage, including integration with social networks such as Facebook and MySpace.

But–in a very big mistake–there is no ability to update status to the popular microblogging service Twitter on this part of the homepage, as yet. You can make it an app, though, as Twitter can appear in your Yahoo updates.

And there is a big advertising module still on the right, along with a what’s-hot section. And, finally, there will also soon be complete two-way syncing with mobile devices, said Bhat.

Interestingly, although CEO Carol Bartz has often said internally that she does not like the color purple, which has been the company’s signature one since its founding, the main page keeps up the violet tradition with a lighter tone.

“Yahoo’s color is purple and it is known for that,” said Bhat (deftly not taking my delicious bait).

As to why it has taken so long to get its front page redone–it was originally set to debut late last year–Bhat noted that such a major shift of such a trafficked page was, well, complex.

“It involves bringing users along and also rewiring everything within Yahoo,” said Bhat, who gave Bartz credit for turbocharging the effort, since she first arrived at the troubled Silicon Valley icon in January and quickly put the brakes on the planned launch. “Now, we are looking at Yahoo holistically, all centered around the user.”

Time will tell if it is a success, but it is certainly a good and even innovative effort, in much the same spirit Microsoft (MSFT) has had with its new Bing search offering.

And while some might complain that it is not cutting-edge enough, it seems just the right amount of rejiggering and open feel for the mass of users it serves.

For Yahoo, at least when it comes to this one, change is indeed good.

In the past, Yahoo has used killer lasers and giant afros and has even tried a dog rising from the dead to brand itself.

Also, of course, there was the yodeler.

That was in 2003, in a clever television commercial that featured Yahoo’s famous sound, as rendered by yodeling champ Taylor Marie Ware (by the way, if you click on the exclamation point on Yahoo’s homepage, it still emits an annoying male yodel).

Now, in what many sources at the company said is a major push, Yahoo (YHOO) is working on a massive plan to overhaul its brand in order to repair a damaged public image and focus consumers on what defines Yahoo.

The effort is being spearheaded by newly installed Chief Marketing Officer Elisa Steele.

To take on the task, she has hired both well-known brand consulting firm Landor Associates and an outside consultant named Penny Baldwin, who was a former top exec at brand and ad giant Young & Rubicam.

Yahoo had formerly been using Ogilvy & Mather and Siegel+Gale to work on strategic branding issues. Ogilvy is still working with Yahoo, sources said, but it is unclear if Siegel+Gale remains in the mix.

The new branding of Yahoo, said several people close to the situation, might be built around the latest relaunch of its main homepage design.

The important front-page redo had been delayed by CEO Carol Bartz when she took over in January and is now slated for the fall.

Many themes have been considered to depict Yahoo in the future, many along the lines of Yahoo still being a key hub destination for Internet users.

Those possible directions were discussed at a recent off-site meeting of Yahoo’s top execs, led by Steele, who ran through the tangled history of Yahoo’s marketing efforts and showed off some rough ideas for the future.

One motto considered, among several: Yahoo as “your home on the Web.”

Whether it is going to be a sweet home or not is unclear, and does depend on exactly how much Yahoo is prepared to spend on this rebranding effort.

Microsoft (MSFT), for example, is in the midst of a $100 million marketing campaign around the recent relaunch of its Bing search service.

And Google (GOOG) has a brand that hardly needs any introduction–and on which it has spent very little marketing money–in that its name has become the verb that means “search” on the Web for most consumers.

Yahoo’s branding campaign will certainly have to be a big deal, given that it is one of the top Internet sites in the world and has massive name recognition.

And Bartz has been vocal about the importance of touting Yahoo as a well-known brand, even as she has said a lot internally and externally that she detests purple.

(That has long been Yahoo’s main color and also mantra, as in “bleed purple.”)

In an onstage interview with me at the seventh D: All Things Digital conference in late May, I asked Bartz about the image of Yahoo being broken and how she would change that perception and revive its innovative spirit.

“The best way to change the perception is to do a good job and then talk about it,” she answered at D7. “We just have to get our story out there; we have to continue to appeal to the people that come to us, and frankly, at some point people get sick of having us as the underdog and say, ‘Thank God, Yahoo’s back.’”

Well, that could depend on how well its upcoming branding campaign works or not, which must also be based on the product and business strategy Bartz settles on in her rejiggering of Yahoo.

Tomorrow morning, Bartz will preside, along with Yahoo Chairman Roy Bostock, at its annual meeting in Silicon Valley, although it is doubtful she will unveil any grand plan then for marketing or other major company strategies.

So, until the branding plans are unveiled, here are some of the more memorable Yahoo advertising efforts.

Yodel:

Lazarus the Dog:

Killer Laser:

Afro-tastic:

Odd Advice-giving Canadian Yahoo Creature:

[Belly Yodel photo courtesy of Yodel Anecdotal on Flickr]

Here’s an interesting site, created by an ex-Yahoo for ex-Yahoos to help them find jobs.

Launched today by Ryan Kuder (along with a non-Yahoo, Jonathan Tarud), it’s called the Purple People Collective.

Purple, of course, is the main color at Yahoo (YHOO) and “bleed purple” is one of its more unfortunate favorite expressions.

Kuder, if you will recall, did a very funny Twitter stream about his own layoff in February. My favorite tweet: “Last free triple non-fat latte from Beantrees. Sniff.”

Kuder explains the new project on the site:

When I was laid off in February, one of the frustrating things was that the daily professional contact that I had with my co-workers evaporated. There was Facebook and LinkedIn and IM and Twitter, but what I really wanted was a way for us fellow ex-Yahoos to find each other and help each other find work. There were lots of referrals for freelance work, but they all happened peer to peer. If only there was a place where we could all get together and proudly say, ‘We got laid off, and we can help you!’ it would be a hell of a lot easier for the recruiters to find us.

So when Yahoo went through its second round of layoffs on December 10, the Purple People Collective was born. Hopefully it can help match up some folks in need of short term work with some folks who need short term work. We know there are lots of people getting laid off these days, not just Yahoos, so it’s open to anyone who’s recently out of work.”

BoomTown likes any lemons-into-lemonade project, like a lot, so go take a look (especially you Yahoos who were laid off last week).

First off, as Digital Daily’s John Paczkowski pointed out to me today, you have to give Yahoo props for using Gogol Bordello as the soundtrack and–more to the point–actually knowing about Gogol Bordello in the first place.

“Since when does [Yahoo CEO Jerry] Yang listen to gypsy punk?” asked Paczkowski in an email to me today.

Since Bill Gates started eating churros with Jerry Seinfeld and adjusting his skivvies hands-free, that’s when!

Oh dear, Yahoo (YHOO) has succumbed to the hipster, ironic thing–an unfortunate marketing virus that has hit Microsoft (MSFT) of late too–in an under-the-covers “Start Wearing Purple” online marketing campaign.

The Internet company is now out with a Web site touting itself, advocating that people “celebrate purple.”

Purple and yellow have always been Yahoo’s colors–even while Google (GOOG) just up-and-grabbed the whole spectrum and emerged victorious.

Nonetheless, Yahoo is going to town on the purple idea, using a lot of its tools and products in the process to show itself off.

The effort starts with a video of multiracial hipsters doing wacky stuff, including a yodeling Yang (see at top), which makes it look like a very alternative version of “High School Musical.”

Also on the site: See purple-inspired photos from Flickr; view videos of “Purple Pranks” (first up, of course, ringers singing the purple song in an elevator to unsuspecting folks); peruse profiles of “Purple Picks” (like the cool crafts site Etsy and artist Clarence Lee) and “Purple Pioneers” (a mix of do-gooders and more hipsters, so far); and even search the word “purple” on Yahoo to fun-filled results.

There’s also a bunch of purple bikes apparently traveling the globe and taking pictures that will be uploaded to a Flickr map. And, natch, you can buy purple clothes.

After trolling the site for a bit, I can tell you I live in the dead center of San Francisco’s Castro neighborhood and we don’t get that purple here ever!

In other words, it’s all very high-concept, much like the dancing guy video that Yahoo did recently (see that very sweet morale-building video at the very bottom).

But to really resonate with the mass of users Yahoo needs to hold onto, as dull as this sounds, I would just like a simple explanation of why I should use Yahoo in my daily life.

The legendary Apple (AAPL) Mac-PC ads that Yahoo and Microsoft are clearly trying to mimic are good primarily because they have a message in each funny exchange about why you need to own a Mac.

Not so much with this quirky Yahoo effort, which is laudable, but a waste of time.

In the main “celebrate purple” video on the site, part of the tag line is: “Deep inside everyone is a Yahoo! waiting to come out. Set yourself free with a little purple.”

Actually, deep inside Yahoo is a Yahoo waiting to come out. And it is going to take more than purple to coax that magical creature out into the light again.