Does anyone want to buy Yahoo?

Another year, another round of Yahoo! Inc. (NASDAQ: YHOO) acquisition chatter. But would any company really want to acquire Yahoo? A market cap of over $33 billion should be enough to give any company pause, and with its growth rate and profitability teetering along at the age-old web giant, the price of admission is probably too high. Forget Microsoft (NASDAQ: MSFT) -- that would be the worst mistake the software company could make. Anyone else? A show of hands please?

Jerry Yang, now the company's CEO, and David Filo desperately want a turnaround at the company they founded. Once the highest flier on the web scene, Yahoo! has been dragged down by the rapid ascension of Google (NASDAQ: GOOG).

Yahoo!, which still has a lot to offer, made a bad bet on its version of text advertising while Google walked off into the sunset with a formula that worked. Add that to former CEO Terry Semel's apparent incompetence in trying to balance paid services against comparable free services from the competition, and you get a company that is in a funk right now.

Most likely, Yahoo! will not be acquired by another company, although it will continue to ring up partnerships to enhance its bottom line. Still, the core functionality of the company is at stake here, and there's miles of work to be done in 2008 -- which will be a make or break year. Even at $10 billion, it's hard to fathom who would want to purchase Yahoo! That means the company is in it for the long haul, and the competition from Microsoft and Google will only get hotter from here.