Yahoo Targeted RP, While Rejected Microsoft's Bid - by lovephileo
Why Yahoo choosed Philippines for a business office anyway? Is there a dynamic industry in store for them?
Yahoo is putting its office here in RP this month due to encouraging internet growth in the country while Yahoo just recently rejected Microsoft's offer of $44.6 billion bid to buy the internet company. Microsoft's board is trying to raise their offer, to increase their initial offer $31 per-share offer to $33, while Yahoo is even open to any deal with anyone at the right price. And Yahoo's right price is worth $40 per share according to the board.
Would Microsoft has the resources to make it work? Microsoft seems to be 100% determined and clearly, they need an internet company to wrestle internet market share from search and advertising King Google. Microsoft is even willing to merge online resources with Yahoo to compete with Google which dominates the lucrative internet search advertising that is expected to grow to $80 billion annually worldwide in the next two years.
But I believe if Microsoft fails from Yahoo,they will still work and will build their online advertising business with or without Yahoo.
But why building Yahoo in Philippines? Jojo Anunuevo, general manager for the Philippine operators of Yahoo will always answer the question by what they see a spike in traffic daily to their Philippine homepage with more than 50% coming from Filipinos abroad. Citing industry figures, Philippines has about 22 million internet users to date, with growth rates of about 30% a year.
For now, Yahoo is on hiring mode, looking for people to fill technical, marketing, sale positions and some local creative skills for the Philippine office.