http://www.theglobeandmail.com/report-on-business/yahoos-search-for-the-fountain-of-youth/article12213907/#dashboard/follows/
Yahoo recently purchased extremely successful blogging site, Tumblr for 1.1 billion USD. This acquisition was part of Yahoo desperate attempt to claw back some market share; part of that plan is targeting the younger audience. Tumblr has been extremely successful at doing that will nearly 300 million unique visitors monthly. This is not the first time Yahoo has spent a truckload of money in an attempt to acquire the next big thing. In 1999 Yahoo Geocities a social networking site that could have very likely turned into a "facebook". However after spending nearly 3.6 billion USD on the acquisition, Geocities was shutdown in 2009. Yahoo is also attempting to acquire online tv website Hulu for upwards of 600 million USD. However the actually price remains undetermined.
In my opinion Yahoo has an incredible ability at predicting the upcoming trends and determining what concepts are going to be successful before they are proven so. However once they acquire a perfect website that fits the concept that is trending, Yahoo "chokes" and fails to progress it and untimely falls behind to a competitor that has the know-how to progress it. If Yahoo wants to stay afloat then they are going to have to do something dramatically different with Tumblr (and possibly Hulu) then what they did with their previous acquisitions.
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