The internet company is not planning to form a corporate venturing unit despite its forthcoming windfall from the Alibaba IPO, its chief development officer has confirmed.
Jacqueline Reses, chief development officer for internet company Yahoo, has confirmed the company has no plans to form a corporate venturing unit, Business Insider reported on Wednesday.
Although Yahoo has acquired more than 40 companies over the past two years and invested in companies including big data platform Hortonworks, Reses explained at the Fortune Brainstorm conference earlier this week that it has no plans to follow rivals such as Google into corporate venturing, despite it being in line for…