Michael Arrington has independent confirmation of yesterday’s rumors that Yahoo! may be looking to buy the Jerry Yang has been named Yahoo’s new CEO. Yang, who founded the company while still in business school, was once thought to be too inexperienced to guide the company. Investors wanted a seasoned executive at the helm. So Yang served in the non-traditional role of “Chief Yahoo.”
The decision on MySpace will be a test of Yang’s strength as a CEO and of his savvy in the fast-changing world of social networks. Many signs point to MySpace’s day in the sun as largely over. The meteoric rise of Facebook, and its recent launch of an “insanely viral” platform for applications makes it unlikely that MySpace can continue to succeed in its current form.
Perhaps an acquisition by Yahoo! and a complete overhaul by longtime Web professionals with a new perspective will put MySpace on top of the social network heap once again. But if I were Yang, I would steer clear.
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