"We are 14 years old so we still have some growing pains and challenges, but this industry is constantly changing so it forces us to change and go forward," he said.
Key to Yahoo's "open strategy" will be its Build Your Own Search Service designed to provide developers with Yahoo search technology and infrastructure so that they can create their own customised search engines.
"We are trying to stimulate innovation in search," explained Copel. "We are reducing the barriers to entry by allowing access to our search platform."
Yahoo will open up its email platform to allow third-party developers to build applications to sit on top of the platform, and will also allow developers to create third-party programs which will sit in the My Applications bar on the new homepage.
"The web is growing so fast and with so much innovation, and we need to make sure people get to the best stuff on the web," said Copel.