Mark Ghuneim and David Peris dug up this delicious chestnut from January, 1999: "Internet search engine Yahoo! Inc. confirmed Thursday it will buy GeoCities, a fast-growing Web site community, in a $3.6 billion deal that will further solidify Yahoo!'s position as a frontrunner in the online popularity contest." RIMSHOT.
Makes a billion dollars for Tumblr seem like a steal. Here's what I don't understand: who's blabbin' about the potential acquisition of Tumblr by Yahoo!? Oh, gosh, whoever benefits from that. Tumblr made $13 million in 2012, so $1,000,000,000 sounds totally natural.
Oh, and how was GeoCities at the time of its Yahoo! acquisition? "In [...]
Fark creator Drew Curtis on the innovation in internet media that will, he believes, move us all beyond the flogged-to-death concept of "crowdsourcing": "The real power in social media happens when that one person in a million comes up with an awesome idea, and those who can do so kick it to the front of the line. Speeding up this process is the next great advance in social media. Some will probably call this Web 3.0. I call it editing." But what if those editors just have the "awesome idea" of following the masses anyway and dressing up their lemminglike ways with innovation-hinting buzzwords?
The Times, on their conference call this morning: we're doing better than Yahoo, because we had (very slightly!) less advertising revenue decline this quarter! Um. You really wanna compare yourself like that? The Times had total revenue of $584.5 million this quarter (down 20% or so, by the way); Yahoo had revenues of $1.573 billion.