Then they bought broadcast.com and geocities. Those are a few log10 larger purchases and were total failures. So even if there were successful small acquisitions they are hidden by the scale of their bad M&A decisions. M&A is probably still trying to make up for the losses they incurred in 1999.

More recently they bought delicious which I love and continued to use without even noticing that they were acquired. After that the next "success" I can think of is rivals.com which seems like a good buy and good match.

Yahoo still has some great niche (maybe that's a misnomer) markets like fantasy sports and investing. So when they strengthen an existing strong property it seems to work better than bringing in something new.

See: http://www.businessinsider.com/yahoos-sorry-acquisition-hist...