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Acquisitions, culture change have kept Yahoo CEO Marissa Mayer busy
Yahoo Chief Executive Marissa Mayer has been running the company a year now and by most accounts, it has been a successful, yet challenging 365 days. She has made more than 16 acquisitions including Summly and Tumblr and the company's fiscal situation has improved: In its second-quarter financial report, released Tuesday, Yahoo announced that nearly a dozen product launches helped it tally net earnings of $331 million for the quarter, up 46% from $227 million a year earlier. Still, its second-quarter revenue of $1.14 billion was down 7% from a year ago. Here we take a quick look at Mayer’s tenure.
Timeline of Yahoo CEOs charted against share price.
Yahoo Chief Executive Marissa Mayer speaks at a news conference in New York May 20, 2013. Yahoo Inc will buy blogging service Tumblr for $1.1 billion cash, giving the Internet pioneer a much-needed social media platform to reach a younger generation of users and breathe new life into its ailing brand. The deal, announced on Monday, is a bold bet by Mayer to revitalize the company by co-opting a Web property with strong visitor traffic but little revenue.
Mayer and Tumblr founder and CEO David Karp.
Mayer has tried to change the culture at Yahoo. On Fridays she holds "FYI" town hall-style meetings for the 3,000 workers at Yahoo's Sunnyvale, Calif., headquarters. She has also extended maternity and paternity benefits to give mothers four months paid leave and fathers two months. New families can now expense up to $500 for things like laundry, house cleaning and child care.
Mayer has also made some very unpopular decisions. In February, Mayer famously went against conventional business practices and yanked the firm’s telecommuting notions. The idea she said was to get employees working more collaboratively in the office, instead of working alone at home, would make employees more efficient and creative.
Marissa Mayer, arrives to meet with U.S. President Barack Obama and other CEOs on a variety of topics including immigration reform and how it fits into his broader economic agenda, and his efforts to achieve balanced deficit reduction at the White House in Washington this past February.
The number of daily active users on Yahoo-branded apps, like Yahoo Mail and Flickr, in the first three months of the year increased by more than 50%. On Flickr, mobile photo uploads increased by more than 50% quarter over quarter. Here Mayer attends the annual meeting of the World Economic Forum (WEF) in Davos Jan. 25, 2013.
Yahoo is moving along in the mobile arena. In the first three months of 2013, the number of monthly, mobile active users on Yahoo surpassed 300 million for the first time. That's up from 200 million reported in its January earnings conference call. Here Mayer speaks at a news conference in Times Square.
The list of acquisitions Mayer has made is varied. It includes MileWise, a flight rewards app; GoPollGo, a social polling service; Astrid, a to-do app; Qwiki, a mobile video app; Rondee, for making conference calls; and Summly, which summarizes news articles into snippets of text. Here Mayer is introduced as a member of the board of directors of Wal-Mart Stores at the annual shareholders meeting for Wal-Mart in Fayetteville, Ark., in June.
Mayer poses at Google's Mountain View, Calif., headquarters, Feb. 24, 2009. Mayer, who at the time served as Google's vice president of Search Products & User Experience, was named as Yahoo's chief executive officer on July 16, 2012.
Mayer arrives with Zachary Bogue for the Time 100 gala celebrating the magazine's naming of the 100 most influential people in the world.
The results of a Google Image search on Yahoo are shown on a monitor in this photo illustration.
Timeline of Yahoo's recent CEOs.