When Yahoo CEO Marissa Mayer took the stage last week at the firm’s annual conference for mobile app developers, her goal was likely much different than it was last year.
This year? Just staunch the flow of negative expectations.
“(Mayer) had to persuade an auditorium full of programmers and advertising partners that Yahoo will grow into an increasingly important player in the mobile market,” reported the Dallas News. “This while the company is dramatically shrinking to appease restless shareholders threatening to overthrow management unless things get better.”
A year ago? Yahoo and its CEO were much more upbeat about the possibilities of its myriad initiatives, many of which have now hit the dustbin.
According to the Dallas News, on stage was a huge screen emblazoned with the message: “Imagine what the next seven years will bring.”
“It’s not even clear that Yahoo will exist in its current form seven months from now, given that some of its shareholders want the company to sell its Internet operations after 3 1/2 years of declining revenue under Mayer’s leadership,” notes the Dallas News. “Mayer and the rest of Yahoo’s board is exploring “strategic alternatives” that could include a sale while the Sunnyvale, California, company sheds 15 percent of its workforce and closes unprofitable services.”
Mayer still believes that Yahoo Inc. has a bright future after recent overhauls and cost-cutting measures.
“Mayer touched upon that theme Thursday as she emphasized that that Yahoo is still investing heavily in mobile devices despite the massive cutbacks in other areas of the company,” according to the same report. “There is incredible potential here,” she assured the mobile developers. “Together, we can build the future of mobile.”
Is Mayer’s job at risk? Perhaps. Yahoo’s stock has plummeted by more than 40 percent since the end of 2014 and company revenue fell 7 percent last year.
“None of Yahoo’s apps are among the Top 70 in Apple’s app store for the iPhone and its share of the mobile ad market remains small even though its revenue from smartphones and tablets is rapidly rising,” according to the Dallas News.