The Internet company does not have a fund earmarked for this purpose, or a definite model or set of criteria for such investments. Hack Days have proven to be important sources of new ideas and technologies for Yahoo, senior vice president for media products and solutions Jeff Kinder said. Meme, now a microblogging site, was transformed from an internal Yahoo product idea into a product on Yahoos platform after an Open Hack Day in Brazil in late 2008. The company acquired mobile location-based social networking site in Indonesia, that was acquired by Yahoo in May.”]
Source: https://www.csoonline.com/article/2125425/yahoo-will-invest-in-hackers-with-good-ideas.html