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<h1>Marissa Mayer- CEO and President of Yahoo</h1>
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<h2>CEO and President of Yahoo</h2>
<p>Yahoo had lost its dominance over the online world when Marissa Mayer was appointed as CEO. The company had gone through 4 CEOs in 5 years as well as 25% of employees quit. Microsoft unsuccessfully tried to buy Yahoo in 2008 for $44.6 billion. By 2011, Yahoo's value was only $22.24 billion. Despite these facts, Marissa Mayer felt that the employees would be excited to reinvent the company. When she got there, the morale was low and there were so many problems to fix. Yahoo was like the "walking dead". One of Marissa Mayer's most notable contributions to Yahoo was the PB&J (Processes, Bureaucracies, and Jams). This system allowed employees to report an issue along with a solution. She really wanted the whole company involved in turning the company around. She issued a CEO challenge to promote new ideas with a prize for the ideas that could make $5 million or more annually. She expected a few dozen entries but got 840 ideas. This challenge brought forth 200 great new ideas generating tens of millions in revenue. Yahoo stock went up from $28 to $40 a share during her tenure. She oversaw the acquisition of Tumblr in 2013 for $1.1 billion. This purchase was made because Marissa saw the need for Yahoo to control a social networking space. Despite all the positive growth that Mayer initiated, she received a lot of criticism for her "harsh" work demands. She cut 2,000 jobs, increased business expenses, and insisted that all employees work from the offices. Yahoo was not able to rebound and in 2016, its core assets were sold to Verizon for 4.48 billion. Shortly thereafter, Marissa Mayer resigned as CEO. In 2017, it was revealed that Yahoo was hacked back in 2014 and a massive amount of information was leaked.</p>
<h2>Lumi Labs</h2>
<p>Marissa Mayer set up Lumi Labs in the original Google office. The company was cofounded in 2017 with Enrique Torres, former Sr VP of Search and Advertising. Lumi Labs is focused on building A.I. applications with Holiday Helper being their first project. </p>
<img src="img/marissa-mayer-yahoo.jfif" alt="Marissa Mayer at Google">
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<h3>Works Cited</h3>
<ul>
<li>https://mastersofscale.com/marissa-mayer-how-to-make-the-star-employees-you-need/</li>
<li>https://www.businessinsider.com/yahoo-marissa-mayer-rise-and-fall-2017-6</li>
<li>https://www.cnbc.com/2017/05/31/why-yahoo-ceo-marissa-mayer-is-the-least-likable-ceo-in-tech.html</li>
<li>https://www.marketwatch.com/story/marissa-mayer-is-back-with-a-new-startup-focusing-on-artificial-intelligence-2019-11-18</li>
<li>https://www.britannica.com/biography/Marissa-Mayer</li>
<li>https://successstory.com/people/marissa-ann-mayer</li>
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