Yahoo Turns Focus to India
According to reports, the top brass at Yahoo just completed a whirlwind, two-day tour of India. Co-founder Jerry Yang, as well as CEO Terry Semel and two others visited the IT-heavy metropolis of Bangalore this week to meet with venture capitalists who have invested in the Internet space, The group then headed to Delhi to talk with owners of established local portals.
While no names or deals were announced, the report points out that like Microsoft before it, Yahoo is intensely eyeing India as an online market and a vital area for the company’s future direction.
Yang stated the obvious to journalists late Thursday evening in Delhi saying, “India is going to be big. In the next five years, India will be among the top three Internet markets.”
Semel added, “We have a strategy of build, buy, and partner globally. In India, we continue to follow the same [strategy]. In the last two days, we have met with many companies for all three strategies, including potential acquisitions.”
The Indian interest follows Yahoo’s well-publicized $1 billion stake in Chinese portal Alibaba.com. But unlike China, Semel said it will be a slower climb to India’s online success.
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