In one of the least surprising business announcements, Carol Bartz has been fired as CEO of super crap search engine Yahoo. This is unsurprising for many reasons but chief among them is that Yahoo is a lousy product that couldn’t find a dildo in a porn shop let alone even attempt to compete with Google. Bartz is the third CEO to have come and gone in four years and Yahoo shares have dropped from their laughably inflated peak of USD $125 back in 2000 during the heady days of the Internet stock bubble to less than USD $13 today.
Revenue growth has been stagnant too with Yahoo creeping up by just 2 per cent compared with 23 per cent by Google in the same 9 month period in 2010. The simple fact is that Yahoo is a lousy product with a mediocre brand. The search engine is rubbish, the portal cluttered and irrelevant with categorised sub-sites that nobody uses whilst advertisers can achieve higher returns from investing in Facebook although that itself is questionable given the over estimated importance of social media clap trap. Frankly, the best product Yahoo has is their email and even that has been steadily getting worse with the increased integration and intrusion of other applications like messaging and Twitter crap that you can’t switch off.
Bartz has zero experience in Internet advertising so why she was hired in the first place is a mystery although I guess it ticks the right boxes to ensure the equal opportunities quota for women CEO’s is being met. And it speaks volumes that that the board decided to sack her via a telephone call instead of using their own email system.
When a company can’t even be bothered to use and endorse its own products, you just know it’s high time for a complete makeover.