Facebook and Yahoo have reached a settlement in their twin patent infringement cases and agreed on an advertising deal.
The companies announced Friday that they would be cross-licensing each’s respective patents and entering into an agreement which would allow both sides to collaborate on advertising deals and promote content.
“We are looking forward to building on the success we have already seen to provide innovative new products and experiences for both consumers and sponsors,” said interim Yahoo CEO Ross Levinsohn. “Combining the premium content and reach of Yahoo as the world’s leading digital media company with Facebook provides branded advertisers with unmatched opportunity.”
Yahoo filed suit against Facebook in March claiming that the company had based its “entire business” on 10 key patents it owned. The company cited patents it held regarding streaming video, advertising, and timeline content.
Facebook soon fired back with a patent suit of its own, claiming that Yahoo was infringing upon patents it held in the social networking and web-based application spaces.
“Yahoo’s new leaders are driven by a renewed focus on innovation and providing great products to users,” said Facebook chief operating officer Sheryl Sandberg. “Together, we can provide users with engaging social experiences while creating value for marketers.”
Meanwhile, Levinsohn is reportedly the “last man standing” in Yahoo’s search for a new CEO, according to AllThingsD.
This article was originally published on V3.
Related reading
Google Walkout: What the ‘five real changes’ demanded by staff will entail for the search giant
Earlier today thousands of Google employees across the world walked out of their offices in protest against sexual harassment and discrimination. We take a closer look at what the ‘five real changes’ demanded by staff will entail for the search giant.
10 fun facts (and a typo) from the original Google paper by Larry and Sergey
Fun fact #1: "Wow, you looked at a lot of pages from my web site. How did you like it?" - people encountering a crawler for the first time. This and other quality snippets pulled from the original paper presenting Google in 1997.
Google’s PageRank algorithm, explained
In their original paper presenting Google, Larry and Sergey define PageRank like this: PR(A) = (1-d) + d (PR(T1)/C(T1) + ... + PR(Tn)/C(Tn)). We dive into what that really means.
Yandex: Beating Google in Europe’s biggest internet market
Yandex has reasserted its dominance over Google in the Russian market. It has a presence in other countries too and is branching out into numerous other tech verticals. A look at search in Russia and what Yandex is doing well to solidify its position.
