In the long history of the development of the Internet, the birth and rise of Yahoo is like a bright star.

In late 1993, Jerry Yang and Feiler used a search engine on campus to record their favorite websites. This seemingly insignificant move actually sowed the seeds of huge changes in the future.

This simple act started the prelude to the establishment of Yahoo's empire.

The partnership between Jerry Yang and Ferrer is wonderful.

Feller is good at organizing information on the screen. When he is in front of the terminal, he can feel the aura of controlling the world, which reflects his confidence and ability in digital information management.

Jerry Yang and Feiler worked together, and despite the rudimentary conditions, they gradually built the initial framework of Yahoo.

On campus, young people explore spontaneously, which demonstrates their unique sensitivity to new things. At that time, no one could have predicted the shocking growth that this humble website would usher in.

Their behavior on campus is like sowing a seed that will surely grow into a towering tree in the future.

By the end of 1994, Yahoo had become the search engine leader.

The speed of development is astonishing.

At that time, the Internet was still in its emerging stage, and the speed of information dissemination was not as fast as it is now.

Yahoo rose to prominence in the search engine world in just one year. This is due to its unique algorithm and perhaps the optimization of the user interface. We don't know the specific reasons. However, it did attract widespread attention and became the focus of many companies.

The first company to come to our door was Reuters.

Tyson, deputy director of marketing at Reuters, accidentally saw a report about Yahoo in a local newspaper, which aroused his interest. From then on, he began to visit Yahoo's website frequently.

But during this period, some people were not optimistic about Yahoo.

Moritz initially had reservations about Yahoo because, unlike Netscape, Yahoo only provided free services online and its path to profitability was unclear.

The free services provided by Yahoo have attracted a large number of users, but its commercial value seems to have only exposed the tip of the iceberg. For companies, there are many factors to consider when considering cooperation and investment.

The intervention of AOL is even more dramatic.

The world's largest commercial Internet services company was short of a search tool, so it targeted Yahoo, intending to acquire it and hire Yang and Filo to ensure they would become rich.

But behind such seemingly attractive conditions is that Yahoo's independence will be lost.

Yahoo is facing a dual situation, which is both an opportunity and a challenge. Their decisions will directly shape Yahoo's future development trajectory.

In January 1995, Netscape's Marc Andreessen linked the most critical button on Netscape's browser—Web search—to the Yahoo website.

This operation directly brought huge traffic entrance to Yahoo.

Within the company, Jerry Yang and Feller each perform their respective duties.

Colleagues feel that Jerry Yang is full of energy and responsive, like a prophet; while Ferro is the core of Yahoo, thoughtful and meticulous about everything.

This shows that Yahoo has not only made a difference in integrating external resources, such as its cooperation with Netscape, but also has a clear division of labor internally and efficient team operation.

For a company to be successful, internal management is crucial. Yahoo's achievements are mainly due to the accurate division of responsibilities between the two key figures and the close cooperation of the team.

In the autumn of 1995, Yahoo had to launch a second round of investment war.

Although there is advertising revenue in the early stage, the cash conversion is extremely limited.

Jerry Yang was very excited when he heard that he wanted to invest. In his view, now is the perfect time to enter Japan and create a local Yahoo.

At this time, Jerry Yang already understood that search engines were only a small part of the new media world, and his view was very avant-garde.

If you want to develop, you must build a brand, and publicity is an essential means.

Because he knows that without strong brand influence, long-term development cannot be achieved.

The Japanese Internet market is still in its early stages of development. If it can successfully enter, Yahoo will gain huge economic benefits.

Not only that, Yahoo also consciously integrates talent resources.

One notable example was the hiring of Semel, a former film production company boss.

Semel joined Yahoo six years ago with the goal of shaping the company into a mature, professional media and advertising brand.

He has extensive knowledge of media market operations and integrates these novel ideas with Yahoo's existing network resources, thereby promoting Yahoo's strategic layout in the media and advertising fields.

In 1999, Yahoo made great achievements. Jerry Yang and Filo assumed leadership of the online media company. At that time, the company's market value was as high as $39 billion. Jerry Yang's personal wealth has also reached US$7.5 billion.

But behind the success there is also controversy.

Some investors expressed dissatisfaction, believing that it was Jerry Yang's reluctance to sell Yahoo that caused several transactions to fail to close.

Every decision may be the result of careful consideration based on the specific situation at that time.

Yahoo was originally founded as "yahoo", a name that means "ignorance". Through its development, it has witnessed the entrepreneurs' spirit of continuous learning and courage to explore.

Although Yahoo eventually declined, the profound traces it left in the history of Internet development cannot be forgotten in any case.

For us, there is much to learn from Yahoo's successes and failures.

In your opinion, why is Yahoo declining? Is it a lack of innovation capabilities, or is it due to excessive expansion?