[Update] Rumor has it the rumors are wrong. While Facebook and Yahoo! may work together on certain projects and collaborations, a search alliance is not likely to be one of them in the near future.
Female executive powerhouses Marissa Mayer and Sheryl Sandburg may be forging an alliance between their two companies.
UK newspaper The Sunday Telegraph reported that Mayer, who is the CEO of Yahoo! and Sandberg, the COO of Facebook, are discussing ways the they can work together to conquer the internet. There is already some overlap between Yahoo! and Facebook, but according to unnamed sources, “board members expect the talks to lead to much more substantial collaboration based around web-based search.”