Word: yahoo
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Dates: during 2000-2009
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...announcement that Jerry Yang will step down as CEO of Yahoo! was welcome news to investors still seething that the founder turned down an acquisition offer from Microsoft earlier this year worth some $46 billion. (After Yang demanded $4 more per share than Microsoft's offer, the software giant walked away.) Yahoo! is in trouble - its stock price has fallen to around $11 from $29 in February 2008 and it's way behind Google and others in the fast-moving Internet innovation game. (The stock rallied slightly upon news of Yang's departure.) Yang, who took...
...tennis and serve as student body president. He got his bachelor's and master's degrees in electrical engineering at Stanford in four years, while working part-time jobs to make money. Yang stayed on at Stanford to get his doctoral degree, but because he left school to start Yahoo!, he never finished...
...Yahoo! started as a project between Yang and fellow grad student David Filo, who started a listing of their favorite web pages in 1994. (Yang had also tried designing web pages, including one devoted to sumo wrestling.) Yang and Filo initially called the service, which was used mainly by their friends, "Jerry and David's Guide to the World Wide Web." The two eventually changed the name to Yahoo!, claiming it was an acronym for "Yet another hierarchical officious oracle...
...Yang and Filo incorporated Yahoo! in 1995, secured venture capital and eventually took the company public...
...Yang owns a 4% stake in Yahoo! At one point, the company was worth as much as $130 billion; it's currently valued at about $15 billion...