Word: yahoo
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Dates: during 1990-1999
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...course, by the standards of David Filo, 32, Yahoo's other co-founder, 29-year-old Jerry's digs are West Coast Donald Trump. Filo's office is truly a Goodwill collection truck of a workspace, with dirty socks and T shirts jumbled in with books, software and other debris. Even more startling is his office computer: a poky clone running an outdated Pentium 120 chip. Why wouldn't the chief technologist of the Internet's No. 1 website use the top of the line? Filo just shrugs. "Upgrading is a pain...
Another approach is Disney's Internet Guide, a preselected list of family-safe websites similar to Yahoo's Yahooligans. Since the pool of acceptable sites is limited, surfing here is a bit like going to the children's library. It also suffers from weird glitches. In testing, every time I typed in a potentially objectionable word, it retrieved a transcript of a (tame) interview between two of my favorite writers, Martin Amis and Will Self. That's a bug I could live with...
...fresh $400 million in the upstart brokerage. Forget Kleiner Perkins -- the Tokyo-based Softbank is the real kingmaker when it comes to anointing web frontrunners. The investment raises Softbank's stake to 27% of E*Trade, and matches the company's large ownership interest in other web winners like Yahoo (31%) and Geocities (35%). Softbank also owns more than 70% of electronics publishing giant Ziff-Davis...
...with Softbank's $250 million infusion into Yahoo last week, the most likely use for the cash is promotion. Look for a big push in September for E*Trade's stab at a "financial portal" called Destination E*Trade. Originally slated for a roll-out last May, the E*Trade site is supposed to be the personal finance and investing version of ESPN Sportzone or CBS Sportsline -- a central hub with monster traffic that's worth money to other marketers. This suddenly seems workable, especially if Softbank's even bigger web investments throw traffic to E*Trade. In related online...
...company already has close to $150 million in the bank, is debt-free and -- amazingly enough, compared to its Net competitors -- is already profitable on an operating basis. Add to this the fact that any takeover targets would be happy to get Yahoo's gold-plated stock. How would you spend the money? Even product development cost only $5 million last quarter, which must buy a lot of server tweaks and Java applets. Noting that Amazon has a similar war chest, our best guess for the bucks: Look for Yahoo's $20 million marketing budget to go into Superbowl-style...