Yahoo to cash in on internet advertising & catch Google
Internet portal Yahoo is due to cash in on the internet advertising boom, according to the firm's chief executive, Terry Semel.
Speaking at the company's annual shareholder meeting, Semel said the company is well poised to compete with the other search engines such as Google and Microsoft Live, Investors.com reports.
He said: "We believe we are in a unique position to take advantage of that growth."
A recent report by the Advertising Association suggested that UK online advertising revenue increased by some 47 per cent in 2006, to more than £2 billion.
Semel also said that Yahoo's recent worse-than-expected performance would be boosted by the new Panama paid search service, as well as advertising sold for mobile phones and other corporate websites.
However, the company is obviously tired of being compared to its primary rival Google, which continues to outstrip Yahoo in terms of internet advertising success.
When asked whether he was content with Yahoo being number two to Google, Semel responded: "I think you are being a little cute."
According to recent Nielsen/NetRatings figures, Yahoo had a 21.9 per cent share of the internet search market in April, while Google had 55.2 per cent.
Source: Direct Traffic