Codenamed “Project Panama”, this apparent top-secret project being undertaken by Yahoo! appears to be the search engine giant’s attempt to redeem itself in the wake of new competitors.
With the success of Google AdWords and the unveiling of Microsoft’s response to the apparent “duopoly”, Yahoo has been losing ground (and revenue) and has been forced to rethink its strategies. According to the most recent reports, they have required their employees at their Mountain View headquarters to take a vacation the week after Christmas this year. These cost-saving steps are reflective of the company’s fear that troubled times may be coming.
Nevertheless, Yahoo has faith that its new products that they are developing will bring back prosperity to one of the most popular online destinations. Forbes magazine reported in April that Yahoo is testing out a new ad-serving mechanism that will enhance the measuring of an ad’s success through relevance and the amount paid for the advertisement.
When will this new feature be rolled out? Initial tests have been conducted in Scandinavia, and Forbes.com reports that a rollout was scheduled for the U.K. in July. Unfortunately, recent searches on “Project Panama” have indicated that Yahoo has postponed launching until 2007.
Will Yahoo be able to bounce back after being hit with announcements of the Google-YouTube purchase, MSN’s new online advertising module, and a decrease in revenue in the wake of financial institutions and automotive companies reducing their online advertising funds? Let’s wait and hope 2007 will be a better year…
Featured Image: Yahoo's sign on display at the company's San Francisco office on Nov. 20, 2015. Credit: Ken Yeung
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