Yahoo! (YHOO) is unveiling the first major initiative of Chief Executive Jerry Yang's turnaround bid—and the first since Microsoft's surprise takeover bid—with a news-oriented site, similar to Digg.com, that lets users vote on articles from top Web publications, guiding which ones get prominent billing on Yahoo's massively trafficked front page. The new Yahoo Buzz, launched Feb. 25, "embodies the strategy that Jerry has talked about," says Tapan Bhat, Yahoo's vice-president for Front Doors.
What that strategy means for Yahoo—and whether it justifies the company's rejection of Microsoft's (MSFT) takeover bid—has been an open question since Yang took back the reins eight months ago. As the first product constructed from the ground up with Yang's vision in mind, Yahoo Buzz has the burden of concretely demonstrating how his leadership can change the company's declining fortunes in arenas increasingly dominated by Google.
