Thursday, June 19, 2008
Microsoft Targeting Yahoo Talent
Like we said here, Yahoo's employees are jumping ship, but reports coming in now indicate that its not just a 'natural flow', but has been triggered and is being actively encouraged by certain actions on the part of both Yahoo & Microsoft, and I'm not talking about the ill-fated buyout. The Wall Street Journal reports that Yahoo is planning a reorganization of its various product groups which could lead to even more resignations.
And the San Jose Mercury News reports that Microsoft is specifically targeting Yahoo talent, or more specifically - Its search engineers, starting its recruitment campaign with a full-page ad advertising for search jobs in Silicon Valley. Microsoft is currently advertising about 160 positions in Silicon Valley, out of which 133 jobs were posted after Microsoft first announced its offer to Yahoo on Feb. 1.
Moving back to the WSJ article on Yahoo's reorganization, the article says that Yahoo's attempt to consolidate in the wake of the failed takeover bid by Microsoft is creating uneasiness in the executive ranks at Yahoo! Inc. Some executives affected by the proposed restructuring are planning to leave. Vish Makhijani, senior vice president of search, will be leaving the company to work at Russian search engine Yandex, according to people familiar with the matter. Qi Lu, Executive Vice President for the Search and Advertising Technology Group, also has notified Yahoo that he is leaving the company, people familiar with the matter said.
And like we said in the previous post about Yahoo's employees, others quitting include Flickr co-founders Caterina Fake and Stewart Butterfield, Jeff Weiner, the executive vice president of Yahoo's network division, and Usama Fayyad, the chief data officer and executive vice president of research and strategic data solutions.
Speaking of Yandex, you might want to keep an eye open for the Russian internet giant's upcoming $1.5 to $2 Billion IPO on NASDAQ, based on a preliminary valuation of Yandex at $5 billion. Yandex, post IPO, is likely to start vying for Baidu's spot on the search engine totem pole. Forbes reports that the $5 billion figure is overly enthusiastic, and the company would likely be able to raise about $500M to $1 billion, with a total market capitalisation of around $3 billion. Yandex achieved 2007 sales of $166.9 million, up 130 percent from 2006.
And the San Jose Mercury News reports that Microsoft is specifically targeting Yahoo talent, or more specifically - Its search engineers, starting its recruitment campaign with a full-page ad advertising for search jobs in Silicon Valley. Microsoft is currently advertising about 160 positions in Silicon Valley, out of which 133 jobs were posted after Microsoft first announced its offer to Yahoo on Feb. 1.
Moving back to the WSJ article on Yahoo's reorganization, the article says that Yahoo's attempt to consolidate in the wake of the failed takeover bid by Microsoft is creating uneasiness in the executive ranks at Yahoo! Inc. Some executives affected by the proposed restructuring are planning to leave. Vish Makhijani, senior vice president of search, will be leaving the company to work at Russian search engine Yandex, according to people familiar with the matter. Qi Lu, Executive Vice President for the Search and Advertising Technology Group, also has notified Yahoo that he is leaving the company, people familiar with the matter said.
And like we said in the previous post about Yahoo's employees, others quitting include Flickr co-founders Caterina Fake and Stewart Butterfield, Jeff Weiner, the executive vice president of Yahoo's network division, and Usama Fayyad, the chief data officer and executive vice president of research and strategic data solutions.
Speaking of Yandex, you might want to keep an eye open for the Russian internet giant's upcoming $1.5 to $2 Billion IPO on NASDAQ, based on a preliminary valuation of Yandex at $5 billion. Yandex, post IPO, is likely to start vying for Baidu's spot on the search engine totem pole. Forbes reports that the $5 billion figure is overly enthusiastic, and the company would likely be able to raise about $500M to $1 billion, with a total market capitalisation of around $3 billion. Yandex achieved 2007 sales of $166.9 million, up 130 percent from 2006.
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