{"id":89929,"date":"2013-10-24T04:23:03","date_gmt":"2013-10-24T02:23:03","guid":{"rendered":"http:\/\/mybroadband.co.za\/news\/?p=89929"},"modified":"2013-10-24T10:07:40","modified_gmt":"2013-10-24T08:07:40","slug":"yahoo-egypt-office-to-be-closed","status":"publish","type":"post","link":"https:\/\/mybroadband.co.za\/news\/internet\/89929-yahoo-egypt-office-to-be-closed.html","title":{"rendered":"Yahoo Egypt office to be closed"},"content":{"rendered":"

Yahoo<\/a> on Wednesday said that it is closing its Egypt office as part of an effort to restore the faded Internet star to former glory.<\/p>\n

“Today, Yahoo announced to employees that we plan to close our Cairo office at the end of this year,” spokeswoman Sara Gorman told AFP in an email.<\/p>\n

“This decision is part of Yahoo’s global effort to streamline operations, encourage collaboration by bringing more Yahoos together in fewer locations, and build a strong global business that is set up for long-term growth.”<\/p>\n

Gorman declined to reveal how many employees it has in the Cairo office and maintained that the Middle East and Africa remain important markets for the company.<\/p>\n

The company said it will continue to operate offices in Amman and Dubai.<\/p>\n

The Internet pioneer that has been struggling for years to reinvent itself after withering in Google<\/a> shadow reported last week that its profit in the recently-ended quarter slipped from the same period a year ago, when its coffers were swelled by the sale of shares in China’s Alibaba.<\/p>\n

The earnings figures, which topped Wall Street expectations but showed that Yahoo chief Marissa Mayer<\/a> had yet to rev up the company’s revenues, were released along with word that the California company would keep a larger portion of Alibaba under an amended agreement with the Chinese Internet retail titan.<\/p>\n

Yahoo said it would sell 208 million Alibaba shares, instead of a previously agreed 261.5 million shares as the Chinese firm prepares a public offering.<\/p>\n

The original repurchase agreement of May 2012 provided that in the event Alibaba completed a qualified IPO, Yahoo would sell up to 261.5 million of its 523.6 million ordinary shares of Alibaba, either directly to Alibaba Group or in the qualified IPO.<\/p>\n

After an IPO, Yahoo, one of the early investors in Alibaba, has the right to sell its remaining shares.<\/p>\n

During an earnings presentation streamed live online, Mayer highlighted hirings, acquisitions, improved products and rising user engagement instead of profit or revenue.<\/p>\n

“It will take time for the increased engagement to translate into revenue,” Mayer said. “But I am confident we are on the right track.”<\/p>\n

More Internet news<\/h3>\n

Google supports \u201cfree expression\u201d on the web<\/a><\/strong><\/p>\n

Obamacare website causes embarrassment<\/a><\/strong><\/p>\n

Facebook fights Twitter on news stories<\/a><\/strong><\/p>\n

Netflix grows customers, shares jump<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Yahoo on Wednesday said that it is closing its Egypt office as part of an effort to restore the faded Internet star to former glory<\/p>\n","protected":false},"author":35,"featured_media":86761,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"idle","_sma_x_autopost_error":"","_sma_x_post_id":"","_sma_facebook_post_id":"","_sma_instagram_post_id":"","_sma_threads_post_id":"","_sma_x_attempts":0,"footnotes":""},"categories":[18],"tags":[36,2744],"class_list":["post-89929","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-internet","tag-active","tag-yahoo"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/89929"}],"collection":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/users\/35"}],"replies":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/comments?post=89929"}],"version-history":[{"count":1,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/89929\/revisions"}],"predecessor-version":[{"id":89951,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/89929\/revisions\/89951"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media\/86761"}],"wp:attachment":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media?parent=89929"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=89929"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=89929"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}