Yahoo! Buys Arab Web Portal as Part of Middle East Expansion
In order to snare a regional online advertising market which will increase as much as forty % this year, web search provider Yahoo. According to Yahoo’s statement this week, Web users in the area will find advantages in the mixture of Yahoo’s products and services with Maktoob’s forcing local content, which now reaches a 3rd of the web Arab world. The purchase will also extend Yahoo’s current offerings by adding capacities to supply relevant Arabic-language content and services, as well as Arabic versions of Yahoo Messenger and Yahoo Mail.
“This purchase will accelerate Yahoo’s technique of expanding in high-growth rising markets where we suspect Yahoo has unique chance to become the destination of choice for consumers,” Yahoo CEO Carol Bartz asserted in a press release. Internet use in the Middle East has grown more than tenfold since two thousand most markets are still in the initial stages of development. There are far more than 320 million Arabic speakers internationally yet less than one p.c of all online content is in Arabic, according to the World Bank.
This purchase is a component of Yahoo’s recovery, which was burned by a $47 bn. purchase negotiation failure with Microsoft last year, which saw its market valuation fall by at least $20 bln. In an attempt to wrestle search engine share of the market from Google, Yahoo. Will handle worldwide sales for both companies’ premium search advertisers.