Yahoo! Social Networking!
After declaring web of objects, Yahoo Inc now plans to venture into social networking to refurbish its line of products. Yahoo is looking to acquire companies that will support it to become a bigger player in social networking, as provided by Chief Technology Officer Ari Balogh. He told the Reuters Global Technology Summit that this is the good time for buying. Balogh referred to the valuations the have fallen over the past few months. The giant web company seems all set to revive its fortunes after an unstable period that affected a decline in sales due to recession and competition from Internet heavyweights like Google Inc.
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