Yahoo! Folds North American Auction Service
“After careful consideration, we have decided to close down our Yahoo US and Canada Auction sites to better serve our valued customers through other Yahoo properties,” the U.S. auctions site told visitors on Tuesday.
Ebay has control over about 95% of the auction field and Yahoo! has apparently decided to walk away from the stiff competition.
Hitwise research director LeeAnn Prescott commented on her blog that “It comes with little surprise given Yahoo’s advertising relationship with eBay, and eBay’s massive dominance of the auction category,”
“We are making great strides in our ongoing efforts to align Yahoo’s resources and focus on core strategic priorities,” said Jeff Weiner, executive vice president of Yahoo’s Network Division.
Like the oldsong goes “you got to know when to fold’em.”
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