Yahoo! pours $1 billion on product development; eyes tech to lure users
NEW DELHI: Technology giant Yahoo ! invested $1 billion in 2013 on product development to beef up its media, news and entertainment offerings to serve advertisers and consumers better as it takes head on giants like Google . Also, the California-headquartered company went on an acquisition spree, acquiring as many as 28 start-ups last year, as it looks to grab consumers' attention, especially those using mobile handheld devices . CEO Marissa Mayer , who joined the firm in 2012 to revive its declining fortunes, has been working on "re-imagining" Yahoo's core businesses across search, communications, media and video. "Product development expenses for 2011, 2012, and 2013 totaled approximately $919 million, $886 million and $1 billion, respectively, which included stock-based compensation expense of $81 million, $74 million and $83 million, respectively," the firm said in a US SEC filing. Yahoo! continually launches, improves and scales product