Yahoo Entertainment, Yahoo Cricket, Yahoo Finance are the Yahoo services that were launched in India in 2012, to provide the users a well-operating and searching experience. Yahoo is basically a US-based internet service provider globally, was started by two graduates of Stanford University Jerry Yang and David in 1994. Yahoo is basically a search engine that generates the relevant data on specific searched keywords from different websites references. Timely, Yahoo has expanded its circle of services and started yahoo entertainment, finance and cricket and. Yahoo mail is also the most prominent and is used by millions of people. Yahoo competed with Google for a long time to attain market dominance.
What happened with Yahoo India?
A few months before the closing, Yahoo sent emails to its customers and notified them on its homepage for putting this into the user’s mind to save their important files. However, it was also mentioned that their top services Yahoo entertainment, finance, and cricket will no longer be available officially in the country. However, it was also mentioned that their services Yahoo entertainment, finance, and cricket will no longer be available officially in the country.
Reason Behind the Shutdown
The reason behind the exit of Yahoo India was the effect of changes in the regulatory laws in India, that limit the private ownership of foreign investors over the digital media companies that produce and publish digital content in the region. As Yahoo was an independent company with its own rules and regulations, thus they denied the government policy and considered it a safe way to shut down its services in India. Whereas, the new FDI rules demand the approval of the company from the central government along with 26 percent of the local share in case of foreign investment.
The shutdown of Yahoo services in India means that the Government will not be able to interrupt the policies of the company. Yahoo can work as an independent organization and can serve its users also after the shutdown. People have to solve their problems and Yahoo-related queries by themselves without the aid of the Government. The users can get access to Yahoo services by installing their official app.
In their statement, Yahoo described that they did not take this decision lightly, as they have a great association with the Indians, but due to FDI regulations, they have to do so. But they will remain growing new opportunities for the users for a better user experience.
Yahoo Entertainment and Other Yahoo Services
Yahoo entertainment is also one of the most used services in India by millions of Yahoo users. Yahoo Cricket was also shut down, as it was categorized as news. So, the company was impacted under the new FDI regulations that limit the foreign-based media companies in the news and current affairs space.
Yahoo assured the availability of their Yahoo mail, as it doesn’t close its service of Yahoo mail in concern of private data. Moreover, Yahoo mail was also not affected under the FDI regulations. Therefore, the mail account and personal data of the users remain unchanged and were easily accessible.
In November 2020, HuffPost has also shut down its services after six years of market superiority. However, the company doesn’t clarify the reason for shutting down its web services, The wire reported that the company shut down its services due to 26% of share over the foreign investment in digital media companies. However, this decision taken by the FDI regulatory authorities harms India’s economy and also puts a hurdle in the convenient usage of the network. Many other media companies have also shown their interest to shut down their services in India.