Assignment 3 Essay Example | Topics and Well Written Essays - 500 words

Assignment 3 - Essay Example Their initial dabble at organizing their favorite websites into categories had transformed into a million-hits-directory website which offered a search feature to visitors, allowing them to search for web content by browsing categories. Considering that there had been no search engine before Yahoo!, it is safe to say that before the entry of the first mover, the industry had no other player in the category. The industry of the internet was a slow cycle industry since the product still exists in today’s world. However, the technology running and defining this network had a very fast cycle. Technology became obsolete very soon and firms were forced to keep innovating and improving their product offering in order to stay afloat. Many of the innovations brought about in this relatively new field were from garages and university dorms as was in the case of Yahoo!. When Yahoo! was initially launched, it was a little more than an organized directory of a handful of websites which the friends, families and peers of the two PHD students at Stanford University used to navigate the web. However, only a year later in 1995, the immense growing popularity of the website prompted the founders to actively pursue the concept as a business and set up their own company with the help of start up funds from venture capitalists.