The chief executive of Yahoo has announced that his company is positioned to compete with main rival Google even if that company pulls off its much-anticipated public offering
CEO Terry Semel said search is expanding into new areas, opening up enough opportunities for both companies to co-exist in the space.
“There is plenty of room for Yahoo to thrive and for Google to thrive,” Semel said at a Milken Institute conference in Los Angeles. “Yahoo is a company that has always had good competitors, and Google will be a good competitor.”
The comments are the first from Yahoo on its prospects for competing head-to-head with Google after an IPO that could net Google billions of dollars in cash and give it a market capitalization of as much as US$20 billion.
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