Struggling for the market share Yahoo wants to buy a large social network

On Wednesday CTO of Yahoo Inc Ari Balogh said that the company is seeking to purchase companies that will contribute to Yahoo’s ambition to become a largest player in the social networking market as well as revamp its services. Balogh failed to mention any distinct names but he noted that Yahoo has had conversations with companies about partnerships and "more interesting" possibilities.

"I can guarantee you there will be some acquisitions, and we will do some stuff in-house," Balogh said. 

This fall Yahoo will introduce its new line of products aimed at making its network of websites easier to use. This will also demonstrate the company’s commitment to grow further. As the recession and strong competition on the part of rivals like Google heavily impacted its sales Yahoo is making every effort to regain its profits.

Meantime the future of the Yahoo internet search is indefinite. According to the sources familiar with the case Carol Bartz of Yahoo met with Steve Ballmer of Microsoft to discuss their possible partnership on Web search. In this regard Balogh noted that any decision about a search deal was up to Bartz and Yahoo's board of directors. But he said that whatever happens, Yahoo will continue to invest in its own search capabilities.