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(Drunk texts, ahem.) The product launch could also be one of the most awkwardly timed in recent memory, though.

Earlier this week, news reports citing anonymous sources said that Yahoo is weighing a selloff of its entire Web products and advertising business, presumably because they're beyond saving.

That's due to technology Shoemaker developed at Cooliris, the chat startup Yahoo bought last year, bringing him to the company.

"We already have a Yahoo Messenger in the market that we have not been maintaining actively for the last couple of years," Shoemaker said.Then, along comes a major product revamp -- about a year in the making.A Yahoo spokeswoman declined to comment on the reports.Yahoo wouldn't specify how many people use Messenger other than to say it is has "millions of users."Yahoo is hoping a few key features will lure more users to Messenger. That's a big deal because no other major messaging service lets you do that.Even months after they are sent, you can recall typo-laced messages or photos you regret sending.Shoemaker said Livetext and the new Yahoo Messenger serve different audiences and will coexist, at least for now.

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