Wired Magazine has a great story about Yahoo! attempt to buy out Google (in the past, obviously.) The story goes that in 2002 Yahoo! once Google $ 3 billion and the latter turned it down. Yahoo! CEO Terry Semel opined that "Five billion dollars, 7 billion, 10 billion. I don't know what they're really worth — and you don't either," he told his staff. "There's no fucking way we're going to do this!" Read the full story here.
In 2001, when Terry Semel joined Yahoo! it was at its nadir and under his supervision Yahoo! rose in leaps and bounds. One of its glorious developments in the company's history was the acquiring of Overture tools in 2003. According to Yahoo! “It allowed us to generate billions of dollars in search revenue – far more than we did as a syndication site – and brought us key talent and technology that have had a positive impact on areas of the company including our algorithmic search and research teams. While we recognize in hindsight that certain challenges could have been addressed more rapidly, we've made substantial strides since then and believe we're in the best position ever to exploit Yahoo's considerable strengths”.
Then came Panama. Though it quite a long time, but it is now live now and they are receiving some early feedbacks also. According to yahoo! “our timeline for Project Panama took longer than we had anticipated, but it's live now and we're very excited about it and the early feedback we're receiving. Most people outside of Yahoo aren't aware of the tremendous — in fact, heroic — effort that has taken place in our search advertising business over the past 18 months. Engineers and technologists from throughout Yahoo! aligned to build the colossal "brain" that powers our new platform and will allow us to innovate in search marketing more rapidly than ever before. ”
Read the whole story here.