Yahoo wants to partner with Indian entrepreneurs
11 Nov 2010
Global internet giant Yahoo, which has a dominating presence in the Indian internet space, is eager to partner with local entrepreneurs who have great ideas to offer, especially in areas such as localisation.
Carol Bartz, CEO, Yahoo, told entrepreneurs at the NASSCOM Product Conclave in Bangalore today that strategic partnerships were important for enterprises seeking to enhance value and looking for growth. ''You need to know how to be a good partner,'' she said. ''Like marriage and dating, you have to work on it. You need to understand you cannot build everything. Companies that have learnt to partner will in the long run be successful.''
But she warned that one should not try to bully partners. Partnership meant cooperation and understanding. ''It is not winners-take-it-all,'' she remarked.
Yahoo, which has a research and development centre in Bangalore – responsible for 20 products – is also on the look out for acquisitions in the content and technology space, said Bartz. The pioneering internet company, which today has a base of about 600 million users globally, has been facing growing competition from the likes of Google and Microsoft.
The company, founded by Jerry Yang and David Filo more than 15 years ago, has been under pressure from investors, wanting better returns. Bartz, who was earlier chairman, president and CEO at Autodesk, the largest producer of design software for the architecture, engineering and building constructions sectors, was brought in as CEO last year to rescue the giant.
Since taking over, Yahoo's profits have doubled and margins are expected to shoot up to 15 to 20 per cent from six per cent at present. In India, Yahoo plans to offer support in six languages shortly, ultimately taking it to 20 in a few years.
