Sunday, May 04, 2008 7:55 AM
Microsoft Withdraws Proposal to Acquire Yahoo!
Microsoft Corp. (NASDAQ: MSFT) today announced that it has withdrawn its proposal to acquire Yahoo! Inc. (NASDAQ: YHOO).
The press release comes with a letter from Steve Ballmer to Mr. Jerry Yang, explaining why there is no deal.
Personally I don't mind withdrawing as, besides the fact that Yahoo! is big, I don't think Yahoo! is getting much exposure. There are a couple of services that I use from Yahoo! but these services all have been acquired by Yahoo!.
I bought and used a MusicMatch lifetime license. This used to be excellent MP3 jukebox software, Yahoo! bought it replaced it by Yahoo! Music Jukebox (they don't do too much advertisements and hard to find) and removed all the great features for tagging the MP3 files. I had a hard time moving the lifetime license over to the Yahoo! Music Jukebox where they required me to buy a new Y!MJ license and get that refunded.
The other service that I use is Flickr, a great online photo service, that I use when I'm traveling - to update friends and family on my whereabouts. But is this all worth the $33/share? Microsoft decided that its not....
We'll see what happens in the future but for now Microsoft has a bundle of bucks to spare by withdrawing the proposal. It's time for Microsoft to buy some -real- great companies, ready to innovate.