) recently announced that it will open a new corporate office in
New York's Times Square and also introduced a new design for its
photo-sharing service Flickr.
The company announced a lease agreement with
Blackstone Group LP
) for a 176,000 square foot (16,400 square meter) office space in
the old New York Times building. The company will occupy floors
9-12 in the office building.
The New York Times building is positioned at 229 West 43rd
Street in New York City, famous as the erstwhile home of
The New York Times
. The Blackstone Group acquired the building in 2011 for $160
Yahoo's decision to set up an office in Manhattan comes on the
heels of its recent agreement to purchase Tumblr Inc. New
York-based Tumblr is a micro blogging platform and includes some
social networking features. The acquisition of Tumblr is the
biggest since Mayer took control and brings a younger population
of users, which the company badly needed to ensure continued
Additionally, the company redesigned its Flickr photo sharing
site. Users can now get a terabyte of storage space for free,
sufficient to store nearly 538,000 photos. Recent enhancements to
Flickr include high resolution photo displays and quicker
The recent acquisition of Tumblr and the redesigning of Flickr
come amid growing competition in the mobile and photo-sharing
space. Last week
) unveiled a host of new photo-editing tools for its social
networking service, Google+, which has gained popularity among
) mobile photo sharing app Instagram have also gained
Though Yahoo remains far behind Facebook and Google, Mayer is
clearly taking Yahoo into a new era. This is reflected in the
upward movement in its share price. Over the last six months,
Yahoo shares have appreciated 47.9%.
Yahoo shares currently have a Zacks Rank #2 (Buy). Another
stock that has been performing well and is worth a look includes
), which carries a Zacks Rank #1 (Strong Buy).
AKAMAI TECH (AKAM): Free Stock Analysis
BLACKSTONE GRP (BX): Free Stock Analysis
FACEBOOK INC-A (FB): Free Stock Analysis
GOOGLE INC-CL A (GOOG): Free Stock Analysis
YAHOO! INC (YHOO): Free Stock Analysis Report
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