Posted by: conferencebay | June 14, 2008

Yahoo CEO Jerry Yang at the Conference Lately: Where Bids Have Fallen Short

It has baffled many how that bid could not be consummated. But it’s all over the news, Yahoo faces the threat of mutiny from shareholders unhappy with the way its board handled a bid offer from Microsoft Corp. that was ultimately withdrawn last month.The software giant withdrew its $47.5 billion bid, the Yahoo board wanted $37 per share, or about $52 billion.

Yahoo CEO Jerry Yang in his most recent conference moment at AllThingsD (Photo by AP)

In an effort to engage a crowd of influential web personalities at the The Wall Street Journal’s “D: All Things Digital” conference, Yang stood by his handling of the deal and painted a bright future for the Internet pioneer Yahoo. Speaking to conference goers at AllThingsD Yahoo CEO Jerry Yang repudiated the image being painted of the company he co-founded as “under siege” and announced on the contrary that the company is in for better times as they rally to streamline Yahoo’s offerings and make it more relevant to consumers and to advertisers.

Yang and Yahoo President Susan Decker said the company was reorganizing around four pillars: home page, search, mail and mobile services. “The essence of Yahoo is being defined today,” Yang was quoted “We have to be incredibly relevant to the consumer. We want you to start your day at Yahoo.” Pleading for time in what could be a last ditch effort to turn yahoo around, Yang said “I know people want to see results,” he reportedly said. “But I think we’re starting to show Yahoo can be on this path to being a different entity.”

Yang defended his handling of the failed Microsoft talks, saying he was committed to building value for long-term shareholders even at the expense of short-term gains. He blamed Microsoft for deep-sixing the deal and indicated that regulatory and other concerns played a role. He has said the deal fell apart over price disagreements. Yang said however that he was still waiting for a clearer proposal from Microsoft but was vague about the shape any possible partnership could tak. Microsoft CEO Steve Ballmer said Tuesday in his own talk at the conference that the two companies were in “ongoing discussions” about developing a partnership. But more recently, it is final that Yahoo has partnered with Google instead, read about it in this breaking news. Well, Yahoo for all the press it is getting, may indeed be in for better times, you’ll never know. The subject is old and the plot is tired, but can exciting twists still turn up afterall in the Microsoft-Yahoo supposed bid gone bust?

There you have it folks, here on the Conference Bay blog, we are committed to keep you updated on the hottest industry topics with snippets of cool conference moments. Head on to the ConferenceBay site to view our newest offerings. Discover a smart, new way to find, book and save up to 60 % on your next conference seat Check out the coolest, new thing in conference going — an online conference bidding tool that has been getting rave feedbacks from both individual delegates as well as corporations big and small, where you can name the price you are willing to pay for your conference of choice. Head on now, where every bidder can potentially walk away as a winner !


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