Word: yahoo
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Dates: during 1990-1999
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Could this be the face of 21st century capitalism? You'd better believe it. Two years ago, conventional wisdom still derided the World Wide Web as an amusing toy with little practical application. No more. With striking speed, the business that Yahoo (or, as the company formally calls itself, Yahoo!) has been pioneering has grown into nothing less than a new economic order, a Net Economy! whose exclamation point came last week, when shares of Yahoo surged to more than $200 (closing at $181 on Friday), making billionaires of two young men who just a generation ago would only...
Instead they're already creating a world that is about to become your own. The Net economy that Yang and Filo are building doesn't exist merely in the 115 million Web-page views that Yahoo serves up to hungry surfers every day nor in the stock-market pyrotechnics that have given their venture an explosive $8 billion valuation. The real economy exists in the thousands--even tens of thousands--of sites that together with Yahoo are remaking the face of global commerce. Want to snag a $900 suit for $150? Try countryroadfashions.com (but be warned: they're based...
...back as 1990. Then it was an unimaginably seductive vision. Now it has become a lucrative reality for a select few. Compare.Net, for instance, has grown from four employees to nearly 40 in less than two years, and its revenue growth is a stunning 25%--every month. Yahoo's lucre spreads beyond Yang and Filo. Just ask the dozens of other post-pubescent millionaires who prowl the firm's Santa Clara, Calif., headquarters. Barefoot...
...entrepreneurs and gave them $1 million for a 25% stake (it turned out to be a good bet--that stake would now be worth around $2 billion). Stanford told them they could keep the venture on campus at least initially, which they did. And they called themselves Yahoo...
...lure of megasites like Yahoo is that in a place like the Net--where people tend to go wherever they want with ease--there are very few locations that attract a mass audience of the sort that advertisers can get through, say, the Superbowl. As a result, search and commerce sites like Yahoo and chief rival Excite have become gateways (the Net buzz word is portals) to the rest of the electronic universe. And owning a portal is looking a lot like owning a toll bridge. Yahoo charges about 4[cents] for every ad it serves up on many...