Episode 33: Overture (with the Internet History Podcast!)
Acquired13 Maalis 2017

Episode 33: Overture (with the Internet History Podcast!)

Episode 33: Overture (with the Internet History Podcast!) Ben & David dive deep into the early days of internet search, with the help of the best in the internet history business: Brian McCullough from the Internet History Podcast! We are huge fans of IHP at Acquired, so this was a real treat to collaborate with Brian and the great work he does over there. In this episode we cover the story of how a small incubator in Southern California spawned perhaps the greatest tech business model of all-time, Yahoo!’s fumbling of that golden opportunity, and Google’s recovery of that fumble to cross into the end zone of tech history behind the biggest moat ever constructed on the internet.

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© Copyright 2015-2025 ACQ, LLC


Topics covered include:
  • Overture’s origins as part of the Idealab incubator run by famed early internet entrepreneur Bill Gross
  • Invention of the paid search business model… initially by returning ADS ONLY in response to search queries
  • The eventual marrying of Overture’s paid search (ads) with organic search results via syndication on other properties like Yahoo!
  • Revenue from Overture’s ad partnership saving Yahoo!’s business after the internet bubble burst
  • Yahoo!’s eventual acquisition of Overture for $1.4B in 2003
  • But… the really interesting story here: Overture’s 'inspiration' of Google’s business model and the creation of "the greatest advertising machine in the history of the world"
  • The original (pre-Overture) Google business model: selling a box!
  • Google’s differentiation vs Overture: focusing on the long tail, ad quality scores, and an advertiser-friendly auction structure
  • Google’s first major search syndication victory over Overture: AOL
  • Yahoo!’s failed attempt to buy Google for $3B in 2002, leading it to settle for acquiring Overture instead the following year
  • Project Panama” at Yahoo!, and its impact on the tech and internet history
  • Overture's (and later Yahoo!’s) lawsuit against Google for stealing the paid search business model— "the O.G. version of Snapchat and Instagram”
  • Paul Graham’s take on "What Happened to Yahoo?”
  • Perhaps the most important technology to come out of this whole episode: Hadoop
  • The power of incentive alignment in marketplaces— and creating the widest and deepest moats on the internet

The Carve Out:

Jaksot(205)

Episode 4: Bungie (with Xbox Co-Founder Ed Fries)

Episode 4: Bungie (with Xbox Co-Founder Ed Fries)

Ben and David are joined by Former Microsoft VP and Co-Founder of Xbox, Ed Fries, to discuss the Bungie acquisition and the development of Halo. Highlights include: Ed’s call with Steve Jobs after the acquisition, and sharing the stage with Steve and Bungie Co-Founder Alex Seropian at the Macworld Keynote.Bungie today, and the unlikely path to get there led by Harold Ryan.How to find something that all parties want to get a deal done, the creation Peter Tamte’s spin-out Mac gaming studio, and orchestrating the division of current Bungie projects and assets with Take-Two, led by Ryan Brandt.Saving a project that’s off schedule and missing the mark, and how Jason Jones led the effort to make Halo 2 a hit at launch.Sponsors:Sentry: https://bit.ly/acquiredsentryServiceNow: https://bit.ly/acquiredsnHuntress: https://bit.ly/acqhuntressMore Acquired!:Get email updates with hints on next episode and follow-ups from recent episodesJoin the SlackSubscribe to ACQ2Merch Store!© Copyright 2015-2025 ACQ, LLC

30 Marras 20151h 7min

Episode 3: Twitch

Episode 3: Twitch

Ben and David discuss Amazon's acquisition of Twitch in 2014. Unlike previous episodes, this recent acquisition still has a lot of open questions, and Amazon hasn't publicly reported growth of Twitch since the purchase. Ben and David talk about Justin Kan's original product with Justin.tv, and the transformation into the Twitch that Emmett Shear is running today.Sponsors:Sentry: https://bit.ly/acquiredsentryServiceNow: https://bit.ly/acquiredsnHuntress: https://bit.ly/acqhuntressMore Acquired!:Get email updates with hints on next episode and follow-ups from recent episodesJoin the SlackSubscribe to ACQ2Merch Store!© Copyright 2015-2025 ACQ, LLC

16 Marras 201553min

Episode 2: Instagram

Episode 2: Instagram

Ben and David discuss Facebook's acquisition of Instagram in 2012. Was it a success? If so, what are the criteria that made it work? What lessons can be learned for other acquisitions in the future?Sponsors:Sentry: https://bit.ly/acquiredsentryServiceNow: https://bit.ly/acquiredsnHuntress: https://bit.ly/acqhuntressMore Acquired!:Get email updates with hints on next episode and follow-ups from recent episodesJoin the SlackSubscribe to ACQ2Merch Store!© Copyright 2015-2025 ACQ, LLC

1 Marras 201542min

Episode 1: Pixar

Episode 1: Pixar

Ben and David discuss Disney's acquisition of Pixar in 2006. Was it a success? If so, what are the criteria that made it work? What lessons can be learned for other acquisitions in the future?Sponsors:Sentry: https://bit.ly/acquiredsentryServiceNow: https://bit.ly/acquiredsnHuntress: https://bit.ly/acqhuntressMore Acquired!:Get email updates with hints on next episode and follow-ups from recent episodesJoin the SlackSubscribe to ACQ2Merch Store!© Copyright 2015-2025 ACQ, LLC

15 Loka 201538min

Trailer: What is Acquired?

Trailer: What is Acquired?

Every company has a story. Learn the playbooks that built the world’s greatest companies — and how you can apply them. The episodes are deep and heavily-researched, uncovering the full histories behind household names you thought you already knew like Rolex, Amazon, Starbucks, or NVIDIA. Enjoy!

1 Loka 20152min

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