Marissa Mayer Discusses Yahoo's Apps and Search Deal with Microsoft
Yahoo CEO Marissa Mayer was speaking at the Goldman Sach Internet and Technology Conference and revealed that Yahoo needed to cut back on its apps and said that its search deal with Microsoft is uninspiring.
Mayer said that Yahoo needs to go from its current portfolio of around 60 to 70 apps down to about a dozen. She explained that Yahoo needs to focus on its core services and that it needs to get its users to spend more time on Yahoo's online properties in order to display more money-making ads.
To do that, Yahoo has acquired three small, mobile-focused startups - Stamped, OnTheAir, and most recently, Propeld.
Mayer also said that Yahoo's 10-year search deal with Microsoft is not delivering results. Google remains to be the dominant search engine with a 66.7% share in the U.S. market, unchanged from its 66.6% share two years ago. In comparison, Yahoo's share has dropped from 16% to 12.2% while Microsoft's has increased slightly from 12% to 16.3%.
Nevertheless, its worth noting that Yahoo's stock has increased significantly since Mayer's arrival in July. Since then, Yahoo's stock prices has risen more than 30%.