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Leveraged By the World’s Leading Tech and Financial Services Companies; Yahoo To Remain Largest Customer and Investor
May 31, 2024
Originating as a pioneering search engine in 1997, Vespa became part of Yahoo through the Overture deal in 2003. Vespa open sourced in 2017 and began servicing external customers in 2021.
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“Vespa has been a critical component to Yahoo’s AI and machine learning capabilities across all of our properties for many years,” said Jim Lanzone, CEO of Yahoo. “While remaining Vespa’s biggest customer and a key investor, we’ll continue to leverage all that Vespa has to offer while simultaneously creating a new business opportunity that allows other companies to harness its technology as an independent entity.”
Vespa’s technology currently underpins an impressive and diverse portfolio of approximately 150 applications that are integral to the company’s operations. These applications play a pivotal role in delivering personalized content across all of Yahoo’s pages in real-time and effectively managing targeted advertisements within one of the world’s largest ad exchanges. Collectively, these applications serve an impressive user base of nearly one billion individuals processing a staggering 800,000 queries per second.
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“Given Yahoo’s incubation and advancement of the technology over the years, now is the time to spin out Vespa and allow other companies to take advantage of Vespa Cloud in a meaningful way,” said Jon Bratseth, CEO at Vespa. “With Yahoo’s continued investment and support, Vespa will be able to maintain its position as one of the largest and most sophisticated machine learning and database management platforms globally.”
Originating as a pioneering search engine in 1997, Vespa became part of Yahoo through the Overture deal in 2003. Vespa open sourced in 2017 and began servicing external customers in 2021. Yahoo will own a stake in the new entity and also hold a seat on its board of directors.
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Yahoo serves as a trusted guide for hundreds of millions of people globally, helping them achieve their goals online through our portfolio of iconic products. For advertisers, Yahoo Advertising offers omnichannel solutions and powerful data to engage with our brands and deliver results. To learn more about Yahoo, please visit yahooinc.com.