It’s safe to say that things haven’t been smooth sailing for Yahoo! The company has witnessed the steady collapse of its core money-making unit. Things get worse though—Yahoo! stock is down in the dumps.Market cap has dropped at an astounding rate and is poised to kill the company. The once-powerful digital media company, saw another misfortune this week.
CEO Scott Thompson was forced to step down after investment firms noted that the Yahoo! CEO had lied on his resume. Thompson listed he had a degree in Computer Science…the resume had gone unquestioned until angry investors used the faulty resume to support claims that Yahoo! was being mismanaged.
Investors also argued that the digital media company should have taken up Microsoft’s offers, one of which included an acquisition. Of course, Yahoo!’s fall has brought Bing into a prominent 2nd place in the battle of the search engine. As the company steadily withers, Bing is poised to rob market share and climb the ranks to more seriously compete with Google.