Yahoo (YHOO) will stop production of its personalized iPad magazine effort,
Livestand, just seven months after it debuted, the company announced in a blog
The Sunnyvale Internet giant, which is attempting to refocus its priorities as it loses Internet advertising market share to Google (GOOG) and Facebook with its fourth CEO in less than a year, launched the flashy, personalized digital magazine app in November.
The service featured Yahoo content such as Yahoo Finance and Yahoo Sports, as well as ABC, Forbes magazine, Parenting magazine and an assortment of publications devoted to sports and hobbies. Yahoo planned to allow publishers the chance to sell subscriptions through Livestand this year.
The iPad app was originally announced in February 2011, but took months to arrive. Meanwhile, other, similar options found popularity, such as Flipboard, which Apple (AAPL) called its App of the Year for 2010.
"While we received great feedback on Livestand's design and it earned a 4-star rating in the App Store, we committed ourselves to continuously measure and scrutinize what's working and what isn't. We have learned a lot from Livestand and are actively applying those insights toward the development of future products that are better aligned with Yahoo's holistic mobile strategy," Yahoo manager Regan Clark wrote in the Friday blog post announcing the product would be discontinued.
Yahoo is currently searching for a new direction under interim CEO Ross Levinsohn, who took over for Scott Thompson, who stepped down less than six months into his tenure after an activist investor revealed that a computer science degree the former PayPal president claimed on his bio was never earned. Thompson had replaced interim CEO Tim Morse, who stepped in after Carol Bartz was ousted from the position in September.
Yahoo stock increased by 1 cent to $15.36 Friday.
Mercury News and Associated Press archives contributed to this report.
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