Yahoo is known for its (in)famous reorganizations, but they now face a contender for the title of “Most Likely to Shake Things Up.” Just over a year after its last reorganization, MIVA has headed back to the drawing board in the hopes of revising the struggling digital ad company.
On the chopping block is 15% of its workforce as well as the MIVA Media operations in Italy. MIVA says this will save them $4 million a year plus a one time savings of $1.4 million.
The recent reorganizations are just the latest of what ails MIVA. In 2006, Craig Pisaris-Henderson and Phillip Thune resigned as CEO and President respectively. And in 2005, the company agreed to an $8 million patent settlement with Yahoo.
As a result, MIVA dropped their partnership with Yahoo and made one with Google. Boy, that sounds familiar.
MIVA licensed FAST technology in 2005. FAST was recently acquired by Microsoft. Since MIVA has such an admiration for the way Yahoo does things, we offer the following words of advice: If Ballmer offers to buy, say YES.