Additional Information


Wikipedia boss predicts serious downturn for websites

LONDON - The founder of not-for-profit reference site Wikipedia has predicted the downfall of "some major household name websites" and a drop in online advertising revenue.

Share this article

Jimmy Wales is predicting internet and technology companies will suffer a "serious downturn" due to the recession, and suggested Yahoo! is the company most likely to suffer a sustained downturn.

In an interview with The Daily Telegraph, Wales said the knock to the global economy will hit websites that are heavily reliant on advertising and a "lot of marginal players are going to have serious problems".

"I could see some of the major players' stock suffering, some of them quite badly, but overall I don't think it will be that bad," he said.

Yahoo, which turned down a $44.6bn (£29.3bn) takeover bid from Microsoft in May, last week announced a 64% fall in quarterly profits as well as 1,500 job cuts.

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus

Additional Information

Latest jobs Jobs web feed

Back to top ^