Yahoo never lost its mojo 28 Mar 2005
9 comments Latest by Jake
Om Malik’s how Yahoo Got Its Mojo Back tries to turn nothing into something.
For Yahooligans, 2004 was a year of frustration. No one noticed the fact that company’s stock posted a hefty 72% gain, ending the year at about $38 a share. Overlooked was the fact that it had sales of $3.6 billion and net income of $834 million. That’s twice as much money it raked in 2003, and nearly three times the profit.
Who are the people who didn’t notice? Bloggers? Hypemasters? The digitarati? The market didn’t forget Yahoo as evidenced by its 72% gain. Customers didn’t seem to forget Yahoo either: have a look at some numbers. Have we forgotten that there’s a world outside of the blogohyposphere?
In fact, Yahoo seemed to regain its mojo back in October 2003. So why is Yahoo cool again all the sudden? Because they hired a few bloggers and bought Flickr? If that’s the measure of mojo then maybe the bubble is back (Josh Petersen also takes on the latest round of insider backscratching that is blowing the bubble).
Marc Canter says: “to Om - once again - he’s rocking the house and telling it like it is…” You know I love ya Marc, but I think Wired beat Om to the punch. So, before we give the blogosphere all the credit for being visionary and telling it like it is, let’s give credit where credit is due. I wonder if we’ll see a blog post in a few years about How Big Media Got Its Mojo Back.
Hey blogosphere, we’re not as on top of things as we think we are.