14 DAY TRIAL // Today, Yahoo announced the acquisition of Right Media, an online advertising company that works with some of the most powerful firms on the Internet. Yahoo first invested in Right Media in October 2006 when the company acquired only 20 percent of the firm but the giant portal wants to pay more than $680 million for the remaining shares. However, the move is more than similar to the latest Google acquisition, the Mountain View-based firm buying DoubleClick for $3.1 billion. It seems like Panama, the product that was released after the company recorded a failure in the Chinese market, isn't enough to compete with the search giant and Yahoo brings new weapons for the battle.
"The acquisition of Right Media will further Yahoo!'s goal to create the industry's most open, accessible and vibrant advertising marketplace, which will help democratize the buying and selling of digitally enabled advertising," said Terry Semel, chairman and CEO of Yahoo! according to a press release published by the company. Semel's statement shows the main goal of the acquisition, Right Media providing almost the same functions as the Google advertising platform.
"This acquisition is an important step in our long-term vision to build the industry's leading advertising and publisher ecosystem. We believe that Yahoo!'s open approach is a clear differentiator from others in the industry and provides significant benefits to advertisers, publishers and Yahoo! itself," the company's employee added. Not only is the giant portal investing in the advertising platforms but it also has a long-term plan that will make the company even more powerful and bring it closer to Google, the current leader of the domain. However, Google is already the owner of the best online advertising platform and tries to conquer the offline media by expanding the product with several deals.