Google and Yahoo: Tech Frenemies?

alen1 · Jun 15, 2008

On the heels of a failed takeover bid by Microsoft, Yahoo announced a joint agreement today with search engine leader Google that would allow the beleaguered company to run search ads supplied by its biggest longtime competitor.

The biggest names in online search have reached an advertising sales deal.
"We believe that the convergence of search and display is the next major development in the evolution of the rapidly changing online advertising industry," Yahoo CEO and co-founder Jerry Yang said in a statement. "Our strategies are specifically designed to capitalize on this convergence and this agreement helps us move them forward in a significant way."
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Ultimately, the cash-strapped company expects the agreement to generate an extra $800 million in revenue annually.
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http://abcnews.go.com/Technology/story?id=5059353&page=1

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