Yahoo isn't exactly synonymous with viral videos - YouTube is.
But Yahoo is looking to change that.
It has planned a new rival to YouTube: A video site that will have "more generous revenue-sharing deals, or fixed ad rates that are significantly higher than YouTube is currently delivering to creators."
The site, which has not yet been named publicly, will let users create their own channel pages and host their videos via Yahoo. Videos will also be able to be embedded on other sites as well, for easy sharing across platforms.
Yahoo is aiming to debut the new service later in the summer. Stay tuned into what's Happening Now. I'll have all the details as they emerge.