When Scott Thompson decided to leave his post as President of PayPal to join Yahoo as CEO, it reportedly came as a shock to eBay CEO John Donahoe.
And it was a surprising move according to some industry observers.
After all, Thompson was ditching Ebay’s fastest growing division to join a company that has been in decline.
It’s a decision Thompson may regret for a long time.
The internet is booming. Consumers are spending freely online, social networking services are thriving and the public markets are open for business.
But today’s internet gold rush has largely passed one of the internet’s most storied brands, Yahoo, by, and now the company’s inability to capitalize on new opportunities is catching up with it.
Is Yahoo a media company, or a technology company? It’s a question the company has long struggled with.
If you look at the recent appointment of former PayPal president Scott Thompson as CEO, you might suspect that Yahoo is aiming to be a technology company once again.
After all, Thompson was once PayPal’s CTO, a VP of technology solutions at a Visa subsidiary and a CIO at Barclays.
But the fact that Thompson is a technologist doesn’t mean that Yahoo is ditching its Hollywood connection, cemented during Terry Semel’s reign, either. In fact, it’s upping the ante with a deal that will see it distributing exclusively a new animated sci-fi series.