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"The service dates back to a time when homepage portals were people’s entry points to the Internet."

In many parts of the world, portals are still hugely important... Yahoo is #1 in Japan, for example.



Though Yahoo Japan is backed by Google: http://www.nytimes.com/2010/07/28/technology/28yahoo.html


This doesn't negate your point, but Yahoo Japan is a different company from Yahoo (which owns about a 30% stake in it).




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