Yahoo to build own streaming video platform to take on YouTube

By VCPOST Staff Reporter

Mar 31, 2014 08:35 AM EDT

Chief Executive Officer (CEO) Marissa Mayer is toying with the idea of build a streaming video platform for Yahoo in the next few months, according to a Re/code source cited by VentureBeat.

Yahoo's failed $300-million acquisition of streaming video service Dailymotion was part of its bid to take on YouTube in the video industry. Yahoo had also inked an exclusive contract to post content from Saturday Night Live. Broadcaster Katie Couric was hired to add sparkle to its media talent. One of the biggest motivations for the video goal is potential of cashing in on the revenue from video ads, the report detailed.

According to Re/code, Yahoo execs have been trying to lure in video makers by offering them better compensation compared to YouTube. They were also offered extensive marketing and the ability to sell ads, the report added.

As of now, copying the open platform of YouTube is not in Yahoo's plans. Rather, the Internet firm plans to start with hand-picked professional videos for a year before opening up the platform to other uploaders, Re/code reported.

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