Yahoo! is in talks to acquire social media companies, chief technology officer Ari Balogh, has revealed.
Balogh said Yahoo! plans to be more aggressive in the social networking market, and will introduce several new products later this year, including status update features across Yahoo!'s sites.
"I can guarantee you there will be some acquisitions, and we will do some stuff in-house," Balogh said.
As part of its expansion plans, Yahoo! will add in interesting products being developed by other firms.
"We're getting the pulse of companies you might not know about as well as interacting much more aggressively with companies you do," Balogh said.
Following the collapsed merger talks with Microsoft last year, Yahoo! is focussing on product development and acquisitions to drive revenue.
Balogh also said that although Google has 'won the game' of search, Yahoo! intends to develop its search engine into a more immersive and interactive experience.
"The thing I will tell you is that, core to great experiences for people online may not necessarily be this version of search," said Balogh. "I believe search is going to be far richer...there's a whole other round or two to go in the search game and that's where we intend on playing."
Yahoo!'s range of social media offerings includes Flickr, Delicious and Yahoo! Answers. However, last September it closed Mash, its fledgling social network service touted as a potential rival to Facebook, which never developed furher than the invite-only development stage.
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