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Yahoo! Auctions is a service set up by the online search giant Yahoo! in 1998 to compete against eBay. [2]There are currently only two localizations of the service active in Taiwan and Japan; Yahoo! has discontinued the service in the United States, Canada, Singapore, Hong Kong, United Kingdom and Ireland.
Yahoo!, once one of the most popular web sites in the United States, is as of September 2021 a content sub-division of the namesake company Yahoo Inc., owned by Apollo Global Management (90%) and Verizon Communications (10%). It has offered a wide range of online sites and services since its inception in 1994, a majority of which are now defunct.
Yahoo's first acquisition was the purchase of Net Controls, a web search engine company, in September 1997 for US$1.4 million. As of April 2008, the company's largest acquisition is the purchase of Broadcast.com , an Internet radio company, for $5.7 billion, making Broadcast.com co-founder Mark Cuban a billionaire.
June 16, 2007: Yahoo! officially retires the Yahoo! Auctions service, except in some parts of Asia. [68] June 18, 2007: Yahoo! co-founder Jerry Yang replaces Terry Semel as CEO. [69] June 20, 2007: Yahoo! agrees to acquire Rivals.com. [70] June 28, 2007: Yahoo! UK/Ireland online auctions closes, but the Hong Kong sites are not affected. [71]
Yahoo Japan continued to use the Yahoo brand and operate independently. The deal marked the end of Yahoo's run as an independent company after over 20 years. Despite the acquisition, Yahoo Japan remained a separate entity, maintaining its own branding and operations distinct from Verizon's ownership of Yahoo's U.S. business.
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