Marissa Mayer, Former Chief Executive Officer of Yahoo has built a technology business incubator, Lumi Labs, with longtime colleague Enrique Munoz Torres.
A brilliant computer scientist and 20th former employee at Google is known to have strengthened and shaped many of company’s trademark features including Google Maps and Gmail.
As per information from the company website, which is set against a backdrop of snow-covered peaks the venture will focus on artificial intelligence and consumer media. Mayer told that Lumi stands for Snow in Finnish earlier on Wednesday.
We have this little lab called Lumi that we have been working on. In Finnish, Lumi means snow, and I just love snow. I had a snowflake-themed wedding too. We have some productive ideas in consumer space and are actively in talks with different founders to see what’s happening around the industry.
Mayer who is a former Google employee until leaving to work for Yahoo in 2012, had her next project going under speculations in Silicon Valley.
During her entry in Yahoo, the company was undergoing a political turmoil with a serious of executive changeovers. At the same time, Yahoo and Google were taking over the online landscape grabbing eyeballs and ad dollars.
Ms. Mayer’s tenure was highly contentious, though the company did outperform when its shares tripled while Mayer was presiding.It was only last year when Yahoo was taken over by Verizon Communications, Mrs. Mayer left the company.
Lumi is based in Palo Alto, California, in the office where Mayer began her career at Google, she told the Times.