The End Of Yahoo Korea And The Last American Search Engine
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The End of Yahoo Korea and the Last American Search Engine
Yahoo, once one of the most popular web sites in the United States, has been gradually losing its relevance and market share in the online world. The company, which was acquired by Verizon in 2017, has shut down many of its services and sites over the years, including Yahoo Answers, Yahoo Messenger, Yahoo Groups, and Yahoo News Digest. [^2^]
One of the latest casualties of Yahoo's decline is Yahoo Korea, which announced in October 2021 that it would cease its operations by the end of the year. Yahoo Korea was launched in 1997 as a joint venture between Yahoo and SoftBank, and it was one of the first portals to offer web search, email, news, and e-commerce services in South Korea. However, it failed to compete with local rivals such as Naver and Daum, which dominate the South Korean search engine market with over 60% and 20% of monthly active users respectively. [^1^]
Yahoo Korea's closure marks the end of an era for Yahoo in Asia, where it once had a strong presence and influence. Yahoo Japan, which was also a joint venture between Yahoo and SoftBank, is now a separate entity that operates independently from Yahoo Inc. and has its own brand identity and services. [^2^] Yahoo China, which was operated by Alibaba Group under a licensing agreement since 2005, was shut down in 2019. [^2^] Yahoo Taiwan and Yahoo Hong Kong were also closed in 2020 and 2021 respectively, amid political tensions with China. [^2^]
With the exit of Yahoo Korea, the only remaining market where Yahoo has a significant share of search engine users is the United States, where it ranks third behind Google and Bing with about 7% of market share as of September 2021. [^3^] However, even in its home country, Yahoo faces stiff competition from Google, which dominates the search engine market with over 87% of market share. [^3^] Moreover, Yahoo's search engine is powered by Microsoft's Bing technology since 2009, as part of a long-term partnership between the two companies. [^2^]
Therefore, it is fair to say that Yahoo is no longer a major player in the global search engine industry, and that its legacy as one of the pioneers of the internet is fading away. The end of Yahoo Korea and the last American search engine is a reminder of how quickly and dramatically the online landscape can change.
Despite its challenges and setbacks, Yahoo is not giving up on its mission to provide online services and content to its users. The company has recently launched Yahoo Plus, a collection of individual subscriptions that offer premium features and benefits for Yahoo Mail, Yahoo Finance, Yahoo Fantasy, and other Yahoo products. Yahoo Plus aims to increase user engagement and loyalty, as well as generate revenue from its existing user base of over 900 million monthly active users worldwide.
Yahoo is also investing in new technologies and platforms to expand its reach and relevance in the digital world. For example, Yahoo has partnered with Google to launch Yahoo News Showcase, a product that features curated news content from select publishers on Google News and Discover. Yahoo News Showcase is part of Google's $1 billion initiative to support quality journalism and help news publishers grow their audiences online. Yahoo is also exploring opportunities in the emerging fields of blockchain, cryptocurrency, and non-fungible tokens (NFTs), as well as developing its own social media app called You.
Furthermore, Yahoo is undergoing a major transformation under its new owner, Apollo Global Management, which acquired Verizon Media (the parent company of Yahoo) for $5 billion in May 2021. Apollo Global Management is a private equity firm that specializes in buying and reviving distressed businesses. Under Apollo's ownership, Yahoo will operate as a standalone company with more autonomy and flexibility to pursue its strategic goals and growth opportunities. Apollo has expressed confidence in Yahoo's potential and value, and has pledged to support its innovation and expansion. aa16f39245