Acquirers hovering over Yahoo

Yahoo, the once dominant Internet giant, has received inquiries from ''multiple parties'' interested in various unspecified strategic options for it, AFP news agency today reported, citing a memo sent by the company's co founders David Filo and Jerry Yang, and board chairman Roy Bostock to employees.

''Our advisers are working with us to develop ideas that we will pursue proactively,'' according to the memo ……. they are fielding inquiries from multiple parties that have already expressed interest in a number of potential options,'' the memo said.

The board of directors of the Sunnyvale, California-based firm is carrying out a "strategic review" in order to "help return the company to a path of robust growth and industry-leading innovation," the memo added.

After firing CEO Carol Bartz earlier this month, Yahoo's board announced a review to revive growth of the company amid competition from internet giant Google and social networking site Facebook.

Once valued at $80-billion, Yahoo has fallen 89 per cent as it lost internet users and advertising revenue to Google and Facebook.

Yahoo, which was one of the most-visited sites on the internet during its heydays, is still a force to reckon with as it is the most visited website in the US. It still remains a huge attraction for advertisers and audiences, though it has not been able to keep pace and or conntinue to evolve like its rivals Google and Facebook.