Yahoo plans to shut down several social media and blog-oriented properties as the company appears to be focusing its resources on its more monetizable media and search businesses.
According to AllthingsD.com, following a round of layoffs earlier this week, Yahoo executives announced that eight products are being eliminated. Among the more well-known brands to be shut down are Delicious, the social bookmarking product Yahoo acquired five years ago; and Yahoo Buzz, the company’s answer to social news sites like Digg.
Also on the list of shutdowns are MyBlogLog, Yahoo Picks and Yahoo Bookmarks. In a statement to AllThingsD.com, Yahoo called these products “underperforming or off-strategy.”
Presumable, Yahoo will focus less on popular-but-hard-to-monetize tools and more on money making ventures, such as original video series. To that end, the company announced on Thursday (Dec. 16) plans to expand the Reveille-produced series Who Knew?—which until now had focused on news curiosities—to gossip site omg!.
The weekly Who Knew? on the omg! site will shed light on celebrities families and their real-life activities. The show's 12 planned episodes will feature integrated brand messaging for the Toyota Highlander.