Yahoo (YHOO) CEO Marissa Mayer painted a picture of company progress and innovation at Yahoo’s annual shareholders meeting on Wednesday. Mayer announced a three year deal with Oracle (ORCL) that will promote Yahoo as the default search for Java software; a move that Mayer described as ‘a great distribution opportunity’ for the company. Yahoo’s new, more visual additions to search were mainly aimed at its growing mobile audience. To spruce up Yahoo Mail the Internet giant has also partnered with startup Paperless Post, adding new photo capabilities and colorful stationary. Like Apple (AAPL), Yahoo is looking to take a bite out of the music business. Mayer applauded the company’s continued partnership with Live Nation to stream music festivals and a new competition series with Simon Cowell to find the ‘Ultimate DJ.’ Yahoo has faced tough competition from tech giants Google (GOOG) and Facebook (FB) to stay relevant. Revenue for Yahoo’s core ad display business has dropped four quarters in a row. The focus has shifted instead to the Mavens: mobile, video, native advertising and social. ‘In 2014 our mavens businesses brought in $1.1 billion in revenue,’ Mayer told shareholders. Yahoo’s strategic partnerships seem to be paying off in terms of stock price, which has nearly tripled since July 2012.
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