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September 27, 2006: Yahoo! acquires online video editing site Jumpcut. September 29 to 30, 2006: Yahoo! hosts an Open Hack Day (including an external site) that features a musical performance by Beck. December 5, 2006: Yahoo! announces a significant re-organization, including the departure of Dan Rosensweig (COO), Lloyd Braun, and John Marcom.
Yahoo! ( / ˈjɑːhuː /, styled yahoo! in its logo) [4] [5] is an American web services provider. It is headquartered in Sunnyvale, California, and operated by the namesake company Yahoo! Inc., which is 90% owned by investment funds managed by Apollo Global Management and 10% by Verizon Communications .
As of April 2008, the company's largest acquisition is the purchase of Broadcast.com, an Internet radio company, for $5.7 billion, making Broadcast.com co-founder Mark Cuban a billionaire. Most of the companies acquired by Yahoo are based in the United States; 78 of the companies are from the United States, and 15 are based in a foreign country.
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Early history (1994–1996) Upon the April 1994 renaming of Jerry and David's Guide to the World Wide Web to Yahoo!, Yang and Filo said that "Yet Another Hierarchical Officious Oracle" was a suitable backronym for this name, but they insisted they had selected the name because they liked the word's general definition, as in Gulliver's Travels by Jonathan Swift: "rude, unsophisticated, uncouth."
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Broadcast.com was an Internet radio company founded as AudioNet in September 1995 by Cameron Christopher Jaeb. Todd Wagner and Mark Cuban later led the company's daily operations which was eventually sold to Yahoo! on April 1, 1999, for $5.7 billion, making it the most expensive acquisition Yahoo! has made.