Yahoo's Strategy: Growth by Acquisition

Recent additions to the fold have fared well on CEO Semel's watch, but the company also needs to ensure a payoff in the future

Yahoo!'s shopping spree is showing no signs of letup. During the past 18 months, the online media and search giant has acquired photo sharing startup Flickr, social bookmarking site Del.icio.us, and Upcoming, a user-generated social events calendar. It has also tried to acquire social networking site Facebook for upwards of $1 billion.

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