Yahoo was founded by Jerry Yang and David Filo in January 1994 and was an early pioneer in the dotcom boom, but was quickly overhauled by Google and others. In 2008, it rejected a US$44.6 billion bid from Microsoft, and subsequently Yahoo’s market capitalisation slipped to just US$22.24 billion just three years later.
Yahoo to peddle fresh farm produce from Japan via online supermarket
Online giant's local subsidiary joins venture to send top-end Japanese produce to city's foodies
Yahoo expects to heat up online shopping in Hong Kong with the launch next Saturday of a new service that will initially sell and deliver premium farm produce from Japan.
The internet giant's Hong Kong subsidiary has partnered with the JA Miyazaki Agricultural Economic Federation, which bands together farm co-operatives in Japan's Miyazaki prefecture, and Yamato Transport, one of the country's largest door-to-door delivery service providers, to introduce Yahoo Supermart exclusively to the city.
Jenny Li, the director of e-commerce at Yahoo Hong Kong, said that the service was the first of its kind within the Yahoo international network and would target the more than one million users of the company's local internet shopping properties such as Yahoo Deals and Yahoo Outlet.
"We aim to satisfy the appetite of local foodies for premium Japanese food," Li said during a preview of the service yesterday. She pointed out that "delivery from the farm to your doorstep is guaranteed within three days of purchase".
The initial batch of eight farm produce categories to be offered include melons, mangoes and Miyazaki's Wagyu beef. In the next few months, the service will add a selection of Japanese cakes, packaged sweets and other delicacies.
Yuzo Oshikawa, the general manager at JA Miyazaki, said the group was committed to bringing "the best selection of food from Japanese farms" to Hong Kong.
Li said Yahoo Hong Kong, which has been the city's No 1 portal for more than 10 years, would continue expanding its selection of products throughout the year.
She declined to provide revenue targets, but said Yahoo Supermart planned to add fresh, seasonal food from South Korea, Taiwan and select European countries.
Yahoo Supermart users are expected to enjoy significant savings, compared with regular supermarket prices. A 1kg pack of two Miyazaki mangoes, for example, will sell for HK$898, down 43 per cent from the regular price tag of HK$1,756.