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article imageYahoo plans expansion into social arena

By Brenton Currie     May 22, 2009 in Internet
Yahoo's Chief Technology Officer Ari Balogh has told Reuters that it is on the hunt for companies that will help it expand its social networking capabilities and allow it to revamp its product range.
He also mentioned that Yahoo has held conversations with other companies about the possibility to work together to "build out" Yahoo's current platforms and offerings.
"I can guarantee you there will be some acquisitions, and we will do some stuff in-house," Balogh told Reuters earlier today.
The push for Yahoo to expand its social offerings comes amid Google's effort to add social abilities to its services but has yet to hit on a winner.
It's believed that Yahoo will roll out updates to all its services beginning from autumn as well as adding new products which Yahoo believes will give users a more unified experience across the Yahoo platform.
Yahoo has also begun to focus on the iPhone - announcing they will release a new fantasy sports application to the App Store in the coming months. They will also introduce the ability to better synchronise your mobile Yahoo settings with your PC ones.
Yahoo has been having a rough trot recently with the Global Financial Crisis (GFC) contributing to revenue loss, as well as increased advertising competition thanks to the likes of Google and Facebook. It's also recent deal talks with Microsoft failed, before Google then stepped in to help - only to pull out as well over fierce complaints that they would control too much of the market.
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