THERE WERE days when having a Yahoo email Id would be something to boast of but that seems to be a thing of past now as Internet giants like Google manage the front rows. Possibly, giving way to the search engine tool, Yahoo Inc co-founder Jerry Yang has quit the company that he started about 16 years ago.

The move seems to bring cheers to the faces of shareholders who had slammed the Internet pioneer for pursuing an ineffective personal vision and impeding investment deals that may have transformed the struggling company, according to The Times of India.

After enjoying the cream by remaining at the top during 1990s, Yahoo had been struggling lately, with giants like Google taking over the search engine world. Three hours after Yang’s news spread around the world, Yahoo shares gained a 3 percent in after-hours trade and the exit is seen as smoothing the way for a major infusion of cash from private equity.

Now, as the Yahoo gets ready to re-assert itself in the market, Yang’s exit could turn out to be a turning point. Yang was seen to be more focussed on trying to rebuild Yahoo, than maximising near-term shareholder value but this shake-up could help it gain the market once again as shareholder start to repose trust in the Internet tool.

Yang who had to face a scathing attack for failed Microsoft bid in 2008 has severed all ties with the company by resigning from all positions, including his seat on the board of directors. Morning star analyst, Rick Summer said: "Jerry Yang was certainly an impediment toward anything happening. This is a company that's been mired by a bunch of competing interests going in different directions. It was never clear what this board's direction has been."

Now, Yahoo will try to revive its revenues under Scott Thompson, its new CEO and will try to bring cheers to its disgruntled leaders. It has been clear what yang is going to do next but he is believed to have amassed fortunes during his stint at Yahoo, which still boasts of 700 million users and has been profitable despite the decrease in its popularity over the years.