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In early 2012, after the appointment of Scott Thompson as CEO, rumors began to spread about looming layoffs.
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Its stock price skyrocketed during the dot-com bubble, Yahoo stocks closing at an all-time high of 8.75 a share on January 3, 2000.
However, after the dot-com bubble burst, it reached a post-bubble low of .11 on September 26, 2001. Over the next four years, it developed its own search technologies, which it began using in 2004.
In February 2008, Microsoft Corporation made an unsolicited bid to acquire Yahoo for .6 billion.
Yahoo formally rejected the bid, claiming that it "substantially undervalues" the company and was not in the interest of its shareholders.Tumblr's CEO and founder David Karp would remain a large shareholder.