Lei Feng network press: Peabody, data analyst. The article started the WeChat public number "Data Iceberg".
Yang Zhiyuan’s investment in Ali is known as one of the most successful gambling in the history of Silicon Valley. In the later period, this gamble reminded Yahoo of its increasingly distressed situation: lack of growth in its core business, lack of clues in its new business, and share price with Ali (see below). Occasionally, the return of the game is mostly a result of Ali’s rising cat jump (bear market) After a short period of time, after the core assets were sold to Verizon, under the YHOO stock code, the soul was hard to find, leaving only the shadow of Ali and Yahoo Japan.
Today we come to talk about the collapse of Yahoo. One is to commemorate the internet giant. Second, to study the decline of Gao Shuaifu is helpful to increase the courage of counterattacks.
When did Yahoo drop it?Let us first look at Yahoo's timeline:
1998, Missing 1 Million Dollars to Buy Google
2002, 3 billion U.S. dollars into Google
2008, rejected Microsoft’s $44.6 billion acquisition
4.44 billion U.S. dollar loss in 2015 fiscal year
The decline of Yahoo! Not to profit? Or is it not? Let us look at these three aspects today and see how Yahoo has been dumped.
How did Yahoo fall?Many people attribute Yahoo's failure to the times. In the Internet era defined by search, social networking, and mobile, Yahoo, the portal's fortune, is out of place.
At first glance this is indeed the case. Whether it is Google, Facebook or Snapchat, platform services are provided. The creators of content are three-way websites and individuals. The portal site, as the provider of content, apparently does nothing but the masses of the people. The fate of the abandoned portal is almost doomed.
Time of day?
The decline of the portal may be the cause of the times; while the decline of Yahoo, it cannot be simply attributed to the time of day.
Yahoo is not without the opportunity to keep up with this era.
Yahoo search as one of the earliest search engines has a first-mover advantage over Google. However, Yahoo indulged in the advertising revenue of the big companies in the early days, and the greed of sticking to users, missed the opportunity to acquire PageRank, so that Google became bigger and raised tigers.
Yahoo also initiated acquisitions of Facebook. Little Zhab is born with bones, and Peter Thiel, who is behind him, sees big scenes. In this failure, sin is not Yahoo.
The grudges that could not be bought in the early years finally got burst after Marissa Mayer came to power. Marissa started the crazy sweeping mode, and he collected 49 companies in one breath, with a total expenditure of more than 2 billion US dollars.
Each area has:
Chewing more than greedy. Marissa emphasized that when she joined Yahoo, only 50 people worked on the mobile side, so she needed to buy a company to get talent. In order to recruit people, the logic of packaged buying companies is really rich and capricious and the results are barely strong:
Yahoo's recent largest investment, Tumblr, cashes out, writes off $230 million worth of assets in the 2015 financial report.
In four years, the founders of 17 companies have ran for six months and then turned to github in the shortest half year.
Compared with Marissa Mayer, Jobs, who was also placed in the hope of Zhongxing, had a lot of tactics. In 1997, he re-entered Apple. Jobs had participated in and completed 7 M&As and acquisitions in the previous four years. The number was overwhelming and the quality was an overwhelming victory:
The merger of NeXT and Apple pave the way for the development of OS X
Acquired the Mac assembly sound production business in Power Computing to ensure quality control of Apple Computer production
SoundJam MP is the predecessor of iTunes
Raycer Graphics' VP Bob Mansfield took over from Apple to retire after the merger, and later became the head of Apple's automotive business.
Jobs's acquisition has been practicing his own theory of connecting dots, following the complete business logic. Looking back at Yahoo, it seems that when it is true, it is in fact unable to independently develop new products. When it comes to making business decisions such as mergers and acquisitions, it lacks core business logic and will only chase hot spots. Even if it receives occasional good cards, Yahoo lacks the investment to integrate it into its own business ecosystem.
Location?
Yahoo's side is in hot water. Yahoo! Japan has a record high revenue for 18 consecutive years - Yahoo's dumping. It is not a time of day, but a geographical advantage.
Yahoo Japan does have a certain geographical advantage. The aging of Japanese society is more serious. Among the older age groups, most people prefer to use Yahoo Japan.
However, Yahoo Japan also faces similar challenges as Yahoo.
In the Japanese search market, Yahoo! Japan’s share dropped from 52% to 36%. With Alexa ranking, Google Japan replaced Yahoo Japan as the site with the highest number of visitors.
In addition, in the Japanese market, the migration of users to mobile phones and the characteristics of mobile phone end users led to a slight increase in Sponsored Search's revenue in fiscal 2014 of 0.8%, and Premium Advertising revenue decreased by 14.4%.
However, Yahoo Japan’s total ad revenue still maintained a growth of 7.4% in FY2015 – thanks to Yahoo Japan’s Yahoo! Display Ad Network (YDN, based on user preferences for custom-designed image ads, rich media ads) revenue increased by 66%, replacing the bid ranking became Yahoo Japan's main source of advertising revenue.
The success of YDN has benefited from Yahoo Japan’s success on the mobile side. In fiscal 2014, Yahoo Japan’s mobile visitors exceeded PC-based visitors, reaching 57.6%. In the first half of 2015, Yahoo!’s mobile revenue increased by 30% and its cost of sale increased by 300%. In the same period, Facebook’s mobile revenue increased by 40%, which is 11 times of Yahoo's mobile total.
The same challenge, why the same name is different?
Yahoo Japan's success on the mobile side has benefited from its deep cultivation of its core business. Yahoo Japan's app for the top 50 apps in Japan is the star of the PC: Yahoo Japan, Yahoo Weather, Yahoo Traffic, and Yahoo!
And Yahoo!, it's a dog and a stick. Yahoo Answers is a large mobile terminal in Japan. In the United States, visitors dropped 77% in six years. Yumio Saneyoshi, one of the people who created Yahoo's Q&A, has already switched to Google+. In his Quora Digest reply, he mentioned that, in addition to dealing with spam and personal attacks, there is basically no one in Yahoo!
Look at Flickr again. In 2011, when the Empire fell, Flickr was the only bright spot: monthly average visitors increased by 37% year-on-year. Unfortunately, in the eyes of Yahoo, Flickr is just a cloud disk for user storage. Yahoo, which is in urgent need of improving its performance, began to charge Flickr users with cash and forced Flickr users to switch to Instagram. The user’s activity in one year dropped by 10%+. Ironically, Tumblr, which Marissa Mayer bought for 1.1 billion in cash, was equally weak.
Therefore, Yahoo's failure cannot be simply attributed to its lack of geographical advantage. In a similar dilemma, Yahoo Japan has made its core business a springboard for drainage. And Yahoo!, “There is always no turmoil to be obtained, and there is no fear of being favored.†— Yahoo lacks enough respect for its existing advantages and puts too much hope on the acquisition of new businesses; the acquisition of mergers and acquisitions decisions is another example. Heavenly-time" discussed in the chapter, was too sloppy.
People and?
Since time and place are not the real reason for Yahoo's fall, what is it? In fact, Yahoo's fall to this point, on the surface, although the day is not false, the land will not be profitable. Finally, there will be people and problems.
Yahoo's coaching timeline:
1995.03 - 2001.03, Tim Koogle
2001.04 - 2007.06, Terry Semel
2007.06 - 2008.11, Yang Zhiyuan
2009.01 - 2011.09, Carol Bartz
2012.01 - 2012.05, Sott Thompson
2012 to present, Marissa Mayer
Tim Koogle's mechanical hardware background is far from Yahoo. He spent $5 billion to buy broadcast.com during his tenure, and was eventually shut down by Yahoo.
Terry Semel, who worked for Time Warner for 25 years, wanted to make Yahoo a media giant, not a technology company. He did not know whether the acquisition of Google would be 3 billion, 5 billion or 8 billion, and eventually missed the opportunity.
After the founders returned, Yang Zhiyuan’s rejection of Microsoft’s $44.6 billion acquisition was almost predictable.
The success of Carol Bartz at Autodesk is more of an increase in the popularity of Windows systems. Came to Yahoo in adversity, Carol is not satisfied with the soil.
As for Scott Thompson from Paypal, who was found to be fraudulent at Third Point, he was ousted.
Marissa Mayer, who was helped by Third Point, was better at making money than she was making money: Many of the entrepreneurs she led were her old acquaintances at Google; she immediately cashed in Ali’s shares for stock repurchases after she took office. Third Point was able to get rid of its stock; Marissa also liked to cross-border, 3 million US dollars to sponsor Met Ball, really can not see Yahoo is a company that is in deep water.
It is not difficult to find that when recruiting people, Yahoo also likes to look out. Besides Yang Zhiyuan, the others are dug in from other companies. Although airborne CEOs can bring different perspectives, Yahoo!'s internal environment is too complex and it is easy to understand Yahoo and create miracles in a short period of time.
Although someone pointed out that Yahoo's failure lies in Yahoo's lack of clear prospects and positioning. I think that: more important than finding the right prospect and positioning is to find the right people, put them in the right place, and then find the right direction.
Positive examples include Elon Musk and his team. After selling Paypal to eBay, Elon gathered the best astronomers and engineers he knew. The direction was to plant green plants on Mars, and took a video and then returned. This idea is comparable to Yahoo in terms of bad weather and favorable conditions. Relying on a good team, Elon played a bad hand, this idea prompted him to study the low-cost rocket, create SpaceX, SpaceX lost the key moment to Tesla, only to complete the real version of Iron Man's triple jump.
The destruction of myths, in the final analysis, is human.
in conclusionWe are always keen to discuss success but rarely discuss failure. As everyone knows, success is only for appetizers, after which is the main course, accompanied by traps of conspiracy and fog. This is why we discuss failure. When Bryant retired, said Rest at the end, not in the middle - when he laughs, he laughs best.
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