Yahoo Searches for Fountain of Cool

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yahoo_smallADOTAS – Chairman Mao preferred five-year plans, but Yahoo is sticking with a three-year one: 1 billion users and $10 billion in revenue. Those are the internal metrics Yahoo is aiming for with its revitalization efforts, sources told Michael Arrington of TechCrunch.

How to fulfill these ambitions? According to EVP and Chief Product Officer Blake Irving, bring the cool back to Yahoo.

Right now Yahoo says it’s working with 622 million yearly uniques and not-shabby revenue of $6.5 billion for 2009 — more than Facebook (rumored at $800 million) in 2009, but less than Google brought home in 2Q 2010 alone ($6.82 billion).

The visitor and revenue goals were not mentioned during a media event dubbed “Yahoo! Product Runway” last week regarding its product updates, including a whole new infrastructure, souped-up Yahoo Mail, improved Yahoo! search results and a new iPad app. Yahoo also announced the availability of Connected TV on many new Toshiba television sets, allowing viewers to use Internet services as well as view videos on demand from Yahoo’s partners.

On the advertising front, Irving promised “Customized Content Ads” with new creative formats and social sharing capabilities. The recent Microsoft transplant argued that Yahoo is not a media company but an “amazing technology company in the media business.”

Arrington was doubtful if the portal could hit either number, noting that Yahoo’s revenue took a $700 million hit last year but he’s always talking down Big Y — remember his repartee with Yahoo CEO Carol Bartz leans toward the vulgar. And if you spent most of your time working in a cave-like office, you might be pretty ornery too.

However, over on MediaPost, WatchMojo.com CEO Ashkan Karbasfrooshan suggests that if Yahoo really wants to make $10 billion, it’s gotta get more serious about video.

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