Happy 10th birthday Google. It seems only yesterday when I was sitting in class and my 8th grade computer professor was teaching us how to use search engines, and recommended Google over Yahoo.
On Saturday May 3rd, Yahoo received another counter bid for the acquisition of Yahoo by Microsoft. Yahoo declined their offer (again)…
At the meeting, which also included Yahoo’s other founder, David Filo, and a Microsoft president who oversees its online unit, Kevin Johnson, Mr. Ballmer increased Microsoft’s offer to $33 a share, or a total of about $47.5 billion, from $29.40 a share. Mr. Yang told Mr. Ballmer that Yahoo would not accept an offer below $37 a share, this person said. -NyTimes
Yahoo was simply milking the cow, but it looks like they either got greedy or they overvalue their assets. Microsoft’s Chief Executive went on to say: “After careful consideration, we believe the economics demanded by Yahoo do not make sense for us, and it is in the best interests of Microsoft stockholders, employees and other stakeholders to withdraw our proposal.” Tough love Yahoo! Not to worry though – Yahoo shouldn’t have any problem selling their company for a couple billion – it’s only a matter of who offers the most dollars.
A few other companies who have showed interest in the acquisition of Yahoo is AOL (Time Warner), MySpace (Fox), and this guy. Should be very interesting to watch how this unfolds in the next year or two.
Who’s winning? Let’s ask Alexa:
On September 15, 1997 Larry Page and Sergey Brin, two 24 year-old Stanford University students, registered the domain name of google.com. The word is a variation of ‘googol,’ which refers to the number 10 to the power of 100, a term popularized by US mathematician Edward Kasner.
Read the full article at Yahoo! News.