June 17, 2017 has been dubbed the saddest day in tech sales history. Yahoo Inc. was bought by Verizon for just $4.5 billion. Three years ago Yahoo was Google’s major competitor, today it’s barely surviving.
The battle is evolve or dissolve because, the world is changing faster than it did last year at an exponential rate. A little background on yahoo to show you just how indecent this battle is;
In 2000 Yahoo was valued at $125 billion, however, in 2008 Microsoft offered to buy it for $44.6 billion. So what did yahoo really miss, where did they get it wrong?
Yahoo was not at the pace of competitors and consequently became irrelevant. They failed to create solutions for today’s problems, instead, they got comfortable with their success at the time.
One of the most important things in technology today is synchronization. Everyone wants to sign up once and have access to all platforms, Google did that, yahoo didn’t even care to copy. Now we can basically sync all our gadgets to each other, our phones to our cars, CCTVS, our gate at home and even the computer in the office.
Yahoo was not a fast follower. The best position to be after the industry leader is a fast follower, that is, create the same solution but this time make it even better – ask Samsung.
Yahoo became crappy literally, I personally lost important documents on my yahoo mail because apparently, I had a first cousin that I probably spelt the name wrong (security question). If you’re going to be crappy, keep it to yourself, don’t share that with customers.
At the end of the day, remember you can never be too big to fail. Let this simple phrase keep you on your toes and evolving.
How can we help you evolve? We are Hexavia!