November 17, 2008
Yahoo! Conducting Search for New CEO
Yahoo! today announced that its Board of Directors has initiated a search for a new Chief Executive Officer. Jerry Yang, co-Founder of Yahoo!, has decided to return to his former role as Chief Yahoo! upon the appointment of his successor as CEO, and he will also continue to serve on the Board. Yang, 40, assumed the CEO role at the Board's request in June 2007, and he has led Yahoo! through a strategic repositioning and transformation of its platform.
November 05, 2008
Yahoo! Announces Termination of Services Agreement by Google
Yahoo! today announced that Google has terminated the advertising services agreement the companies announced in June. Yahoo! continues to believe in the benefits of the agreement and is disappointed that Google has elected to withdraw from the agreement rather than defend it in court. Google notified Yahoo! of its refusal to move forward with implementation of the agreement following indication from the Department of Justice that it would seek to block it, despite Yahoo!'s proposed revisions to address the DOJ's concerns.
October 21, 2008
Yahoo! Reports Third Quarter 2008 Financial Results
Revenues were $1,786 million for the third quarter of 2008, a 1 percent increase compared to $1,768 million for the same period of 2007. Net income for the third quarter of 2008 was $54 million or $0.04 per diluted share compared to $151 million or $0.11 per diluted share for the same period of 2007. Free cash flow for the third quarter of 2008 was $215 million, a 31 percent decrease compared to $310 million for the same period of 2007.
September 08, 2008
AT&T Launches Yahoo! oneSearch(TM) as the Default Mobile Search Engine on AT&T MEdia Net
AT&T and Yahoo! announced that beginning today Yahoo! oneSearchTM powers mobile Internet searches made through AT&T's on-deck MEdia Net portal. AT&T is the first U.S. carrier to integrate Yahoo!'s innovative mobile search service directly into their portal. This announcement builds on the expanded strategic alliance the companies announced earlier this year. Yahoo! oneSearch will provide customers who search AT&T MEdia Net with access to news, financial information, weather conditions, Flickr(TM) photos and Web images, as well as Web and mobile web sites. Yahoo! oneSearch will also display relevant ringtones, wallpaper, games and other content available in the AT&T MEdia Mall within search results, eliminating the need for customers to search within a separate window for downloadable content. AT&T's YELLOWPAGES.COM will provide local search information to customers as part of the agreement.
September 03, 2008
Verizon and Yahoo! Extend Strategic Alliance with New Multiyear Co-branded Portal Agreement
Verizon Communications and Yahoo! today announced a new multiyear agreement to provide an integrated, co-branded Verizon-Yahoo! portal as a preferred starting point for new Verizon broadband subscribers. This new agreement extends the relationship between Yahoo! and Verizon that began in 2005. Under the terms of the new agreement, the customizable Verizon-Yahoo! portal will be offered as the first portal choice option for all new subscribers to Verizon's FiOS Internet and High Speed Internet services.
July 22, 2008
Yahoo! Reports Second Quarter 2008 Financial Results
Revenues were $1,798 million for the second quarter of 2008, a 6 percent increase compared to $1,698 million for the same period of 2007. Net income for the second quarter of 2008 was $131 million or $0.09 per diluted share compared to $161 million or $0.11 per diluted share for the same period of 2007. Free cash flow for the second quarter of 2008 was $231 million, a 30 percent decrease compared to $328 million for the same period of 2007.
July 21, 2008
Yahoo! Announces Settlement with Carl Icahn
Under the terms of the settlement agreement, eight members of Yahoo!'s current Board of Directors will stand for re-election at the 2008 annual meeting: Roy Bostock, Ronald Burkle, Eric Hippeau, Vyomesh Joshi, Arthur Kern, Mary Agnes Wilderotter, Gary Wilson and Jerry Yang. In view of the settlement agreement with Mr. Icahn, and the termination of the proxy contest, Robert Kotick has decided not to stand for re-election to the Board at the 2008 annual meeting. Following the 2008 annual meeting, the Yahoo! Board will be expanded to 11 members. Carl Icahn will be appointed to the Board and the remaining two seats will be filled by the Board upon the recommendation of the Board's Nominating and Governance Committee from a list of nine candidates recommended by Mr. Icahn, which includes the eight remaining members of the Icahn slate of nominees and Jonathan Miller, currently a partner in Velocity Interactive Group and former Chairman and CEO of AOL.
July 17, 2008
Yahoo! Sends Letter to Stockholders Urging Support for Its Current Board
Yahoo! today sent a letter to all stockholders from Chairman Roy Bostock and CEO Jerry Yang stating that the recently-formed Carl Icahn-Microsoft alliance continues to make misleading statements about their plans for Yahoo!. The Board of Directors believes strongly that the Icahn-Microsoft agenda -as presented to them jointly last week - will destroy stockholder value at Yahoo!, serving only their very narrow special interests, clearly the shareholders.
July 12, 2008
Yahoo! Rejects Microsoft/Icahn Search and Restructuring Proposal
Yahoo! confirmed today that it has rejected a joint proposal from Microsoft Corporation and Carl Icahn for a complex restructuring of Yahoo! that would include the acquisition of Yahoo!'s search business by Microsoft. The proposal was made on Friday evening and Yahoo! was given less than 24 hours to accept the proposal, the fundamental terms of which Microsoft and Mr. Icahn made clear they were unwilling to negotiate. After reviewing the proposal with its legal and financial advisers, Yahoo!'s Board of Directors determined that accepting the proposal is not in the best interests of its stockholders.
July 07, 2008
Yahoo! Statement in Response to Carl Icahn's Latest Open Letter
Yahoo!'s Board of Directors continues to stand ready to enter into negotiations with Microsoft Corporation for an acquisition of Yahoo!. Indeed, as recently as June, Yahoo!'s independent directors and management approached Steve Ballmer about just such a transaction, only to be told that Microsoft was no longer interested even in the price range which they had previously proposed. Now Mr. Ballmer and Mr. Icahn have teamed up in an apparent effort to force Yahoo! into selling to Microsoft its Search business at a price to be determined in a future "negotiation" between Mr. Icahn's directors and Microsoft's management. We feel very strongly that this would not lead to an outcome that would be in the best interests of Yahoo!'s stockholders. If Microsoft and Mr. Ballmer really want to purchase Yahoo!, we again invite them to make a proposal immediately. And if Mr. Icahn has an actual plan for Yahoo! beyond hoping that Microsoft might actually consummate a deal which they have repeatedly walked away from, we would be very interested in hearing it.
June 12, 2008
Yahoo! Sends Letter to Stockholders
Chairman Roy Bostock and CEO Jerry Yang wrote to the shareholders today highlighting the latest developments at Yahoo!, including our recently announced commercial agreement with Google and the outcome of our discussions with Microsoft regarding a potential transaction. They also reinforced that The Yahoo!-Google Agreement Does More for Stockholder Value than Microsoft's Search-Only Hybrid Proposal.
June 12, 2008
Yahoo! to Strengthen Competitive Position in Online Advertising Through Non-Exclusive Agreement With Google
Yahoo! announced today that it has reached an agreement with Google Inc. that will enhance its ability to compete in the converging search and display marketplace, advancing the company's open strategy. The agreement enables Yahoo! to run ads supplied by Google alongside Yahoo!'s search results and on some of its web properties in the United States and Canada. The agreement is non-exclusive, giving Yahoo! the ability to display paid search results from Google, other third parties, and Yahoo!'s own Panama marketplace.
June 05, 2008
Yahoo! Announces Microsoft Talks Have Concluded
Yahoo! today announced that discussions with Microsoft regarding a potential transaction -- whether for an acquisition of all of Yahoo! or a partial acquisition -- have concluded. The conclusion of discussions follows numerous meetings and conversations with Microsoft regarding a number of transaction alternatives, including a meeting between Yahoo! and Microsoft on June 8th in which Chairman Roy Bostock and other independent Board members from Yahoo! participated. At that meeting, Microsoft representatives stated unequivocally that Microsoft is not interested in pursuing an acquisition of all of Yahoo!, even at the price range it had previously suggested.
June 05, 2008
Yahoo! and Acresso Announce Multi-Year Yahoo! Toolbar and InstallShield Distribution Agreement
Yahoo! and Acresso Software, formerly a division of Macrovision, today announced a multi-year global agreement to offer the Yahoo! Toolbar to over 71,000 organizations using Acresso's InstallShield(R) technology. The partnership makes it easy for software producers to optionally bundle the Yahoo! Toolbar into a software installation as a value-add. InstallShield, deployed on more than 500 million PCs worldwide, is used by software producers of all sizes and allows them to author high-quality installations for the PC. With this new offering, Acresso Software formally announces a value-added services strategy to extend the benefits of InstallShield.
June 04, 2008
Yahoo! and Havas Digital Announce Multi Year, Global Advertising Partnership
Under the terms of the agreement, Havas Digital will work with the Right Media Exchange to develop a proprietary media trading platform based on Yahoo!'s technology. To better serve their customers and extend its advertising platform, Havas Digital plans to be an early adopter of AMP! from Yahoo! which significantly simplifies the process of buying and selling ads online. AMP! from Yahoo! is due to roll out beginning with members of the Newspaper Consortium in Q3 2008. This important relationship will also include a partnership between Yahoo! and Havas Digital's Centers of Excellence to build a global outsourcing practice, based in India and Brazil, for digital advertising leveraging the Right Media Exchange.
Yahoo! to Sell Display Advertising for Walmart.com
Yahoo! today announced a strategic, multi-year relationship for online display and video advertising with Walmart.com. This agreement enables Walmart.com to leverage Yahoo!'s advertising platform to present new offers to online customers. Yahoo! also becomes the exclusive portal to resell Walmart.com's display inventory. Yahoo! will bring its extensive network of leading brand advertisers to Walmart.com and serve as the primary marketing and sales channel for the site's display and video advertising. Yahoo! will also apply its industry-leading ad-serving, targeting and inventory management capabilities to power ad pricing, targeting, delivery and reporting for Walmart.com. The site will ultimately become a participant in AMP! from Yahoo!, the recently announced advertising management platform that will become available to publishers later this year.
Yahoo! Inc. Responds to Carl Icahn's Letter of June 4, 2008
Yahoo! today sent a letter to Carl C. Icahn in response to his letter dated June 4, 2008 which seriously misrepresents and manipulates the facts regarding the recent events pertaining to Microsoft and Yahoo!. The management strongly noted that the investor lacked any credible plan for Yahoo! other than a repetition of his insistence that the Company should sell itself to Microsoft. Indeed, his stated view that "the only way to salvage Yahoo! in the long if not short run is to merge with Microsoft" demonstrates that you he had no other plan and causes the company to wonder what exactly would happen to the Company if he and his nominees were to take control of Yahoo!.
May 18, 2008
Yahoo! Remains Open to Value Maximizing Transactions
Yahoo! has confirmed with Microsoft that it is not interested in pursuing an acquisition of all of Yahoo! at this time. Yahoo! and its Board of Directors continue to consider a number of value maximizing strategic alternatives for Yahoo!, and we remain open to pursuing any transaction which is in the best interest of our stockholders. Yahoo!'s Board of Directors will evaluate each of our alternatives, including any Microsoft proposal, consistent with its fiduciary duties, with a focus on maximizing stockholder value
May 03, 2008
Yahoo! and WPP Forge Multi-Year Strategic Partnership
Yahoo! & WPP's GroupM, 24/7 Real Media and WPP Digital today announced a strategic partnership that will enable WPP agencies to buy digital display advertising across the Internet more efficiently than ever before. The partnership will initially involve a collaboration between Yahoo! and WPP's GroupM and 24/7 Real Media. As part of the agreement, WPP agencies, working through 24/7 Real Media, will develop a proprietary media trading platform that connects to Yahoo!'s Right Media Exchange. WPP agencies will work with 24/7 Real Media to integrate their proprietary targeting capabilities into the platform and develop custom trading strategies, which can be seamlessly executed via the Right Media Exchange on a highly targeted and cost-effective basis.
May 03, 2008
Yahoo! Responds to Carl Icahn's Intention to Nominate Candidates for Election to Yahoo!'s Board of Directors
Roy Bostock today responded to Carl Icahn stating that the Board had done all in its power to pursue a fair and square negotiation with respect to Microsoft’s offer to buy the company. In short, Yahoo!'s board was at every point in this process prepared to enter into a transaction with Microsoft that would maximize stockholder value--and included certainty of value and closing. What Yahoo!'s independent board refused to do was to allow control of this company to be acquired for less than its full value. The letter also reinstated that it is in the best interests of Yahoo! stockholders to allow him and his hand-picked nominees not to take control of Yahoo! for the express purpose of trying to force a sale of Yahoo! to a formerly interested buyer who has publicly stated that they have moved on.
May 03, 2008
Yahoo! Issues Statement in Response to Microsoft
Roy Bostock, Chairman of Yahoo said in response to Microsoft Corporation's announcement that it has withdrawn its proposal to acquire Yahoo! - We remain focused on maximizing shareholder value and pursuing strategic opportunities that position Yahoo! for success and leadership in its markets. From the beginning of this process, our independent board and our management have been steadfast in our belief that Microsoft's offer undervalued the company and we are pleased that so many of our shareholders joined us in expressing that view. Yahoo! is profitable, growing, and executing well on its strategic plan to capture the large opportunities in the relatively young online advertising market. Our solid results for the first quarter of 2008 and increased full year 2008 operating cash flow outlook reflect the progress the company is making.
April 22, 2008
Yahoo! Reports First Quarter 2008 Financial Results
Revenues were $1,818 million for the first quarter of 2008, a 9 percent increase compared to $1,672 million for the same period of 2007. Net income for the first quarter of 2008 was $542 million or $0.37 per diluted share compared to $142 million or $0.10 per diluted share for the same period of 2007. Free cash flow for the first quarter of 2008 was $647 million, a 75 percent increase compared to $369 million for the same period of 2007.
April 09, 2008
Yahoo! to Conduct Limited U.S. Test of Google's AdSense for Search Service
Yahoo! announced today that it will begin a limited test of Google Inc.'s AdSense for Search service, which will deliver relevant Google ads alongside Yahoo!'s own search results. The test will apply only to traffic from yahoo.com in the U.S. and will not include Yahoo!'s extended network of affiliate or premium publisher partners. The test is expected to last up to two weeks and will be limited to no more than 3% of Yahoo! search queries.
April 09, 2008
Yahoo! Announces Agreement to Acquire IndexTools' Analytics Business
Yahoo! today announced that it has entered into a definitive agreement to acquire substantially all of the assets of Tensa Kft., more commonly known as IndexTools, a leading provider of Web analytics software for online marketing. The acquisition includes IndexTools' Web analytics business and technology as well as its Tensa R&D Kft. subsidiary. Upon completion of the acquisition, the addition of the IndexTools' assets is intended to expand Yahoo!'s powerful set of services designed to maximize its clients' online marketing efforts.
April 07, 2008
Yahoo!'s Board of Directors Responds to Latest Microsoft Letter
The Board of Directors of Yahoo! today sent a letter to Steve Ballmer, CEO of Microsoft Corporation - Our Board carefully considered your unsolicited proposal, unanimously concluded that it was not in the best interests of Yahoo! and our stockholders, and rejected it publicly on February 11, 2008. Our Board cited Yahoo!'s global brand, large worldwide audience, significant recent investments in advertising platforms and future growth prospects, free cash flow and earnings potential, as well as its substantial unconsolidated investments, as factors in its decision. At the same time, we have continued to make clear that we are not opposed to a transaction with Microsoft if it is in the best interests of our stockholders. Our position is simply that any transaction must be at a value that fully reflects the value of Yahoo!, including any strategic benefits to Microsoft, and on terms that provide certainty to our stockholders.
March 24, 2008
Yahoo! and Computational Research Laboratories to Collaborate on Cloud Computing Research
Yahoo! and Computational Research Laboratories (CRL), a wholly owned subsidiary of Tata Sons Limited, today announced an agreement to jointly support cloud computing research. As part of the agreement, CRL will make available to researchers one of the world's top five supercomputers that has substantially more processors than any supercomputer currently available for cloud computing research. This effort is the first of its kind in terms of the size and scale of the machine, and the first in making available a supercomputer to academic institutions in India.
March 18, 2008
Yahoo! Investor Presentation Details Financial Plan
Yahoo! today filed an investor presentation that details the Company's three-year financial plan and strategic initiatives which are expected to roughly double operating cash flow over the next three years from $1.9 billion to $3.7 billion and generate $8.8 billion in revenue excluding traffic acquisition costs (revenue ex-TAC) in 2010. Key sources of projected growth in revenue and operating cash flow cited in the presentation include $1.9 billion in added revenue ex-TAC over the next three years from display/video advertising, as Yahoo! expects its growth to outpace the currently anticipated market rate of growth in online display/video advertising. The Company also expects $1.4 billion in added search revenue, implying growth essentially in line with the anticipated market rate of growth in search advertising.
March 11, 2008
Yahoo! Research Opens Israel Lab; Search Expert Dr. Ronny Lempel Joins Yahoo! to Lead Research Efforts in Haifa
The Yahoo! Research Israel Lab, which opens today, will focus on boiling down complex technology problems into simple solutions to change the game in Web search. As a demonstration of its commitment to next-generation search, Yahoo! recently opened Yahoo! Labs - Bangalore and appointed eminent scientist Dr. Rajeev Rastogi to head the new India lab. Yahoo!'s arrival in Israel furthers the company's commitment to discovering new technologies that deliver compelling experiences on the Web.
March 05, 2008
Yahoo! Extends Deadline for Nominating Directors to Board
Yahoo! announced that it has amended the Company's bylaws to extend the deadline for nominating directors to Yahoo!'s board from March 14th to 10 days following the public announcement of the date for Yahoo!'s 2008 annual meeting of stockholders. As the Company has not yet announced the date of this year's annual meeting, the amendment will give stockholders who want to nominate one or more directors, including Microsoft Corporation, more time to do so. The amendment does not preclude any party from nominating one or more directors at any time prior to the new deadline.
March 04, 2008
Yahoo! Launches New Lab in Bangalore, India
Yahoo! Labs - Bangalore will be a center of excellence for next generation search and advertising technologies, focused on making the Web more relevant and simple for users and advertisers. As a demonstration of Yahoo!'s commitment to recruiting world-class talent in India, Dr. Rajeev Rastogi was appointed to assemble a world-class team of scientists and engineers to focus on new approaches to information extraction and machine learning, multimedia and query processing.
February 13, 2008
Yahoo! Mails Letter to Stockholders
On February 1, 2008, Microsoft made an unsolicited proposal to acquire your company. As much has been reported in the press recently, I wanted to reach out to you personally to let you know why your Board of Directors, after a careful review by Yahoo!'s management along with our financial and legal advisors, believes that Microsoft's proposal substantially undervalues Yahoo! and is not in the best interests of our stockholders. Most importantly, I want you to know that your Board is continuously evaluating all of Yahoo!'s strategic options in the context of the rapidly evolving industry environment, and we remain committed to pursuing initiatives that maximize value for all our stockholders.
February 12, 2008
Yahoo! and T-Mobile Agree to Enter Into Strategic Partnership
Yahoo! agreed to enter into a new strategic partnership with T-Mobile to bring Yahoo!'s industry-leading mobile services to millions of consumers in T-Mobile's European footprint. This agreement sets the stage for Yahoo! oneSearch to become the exclusive mobile search service for T-Mobile customers beginning at the end of March, 2008.
Yahoo! Acquires Maven Networks
Yahoo! today announced that it has acquired Maven Networks, Inc., a leading online video platform provider, to expand state-of-the-art consumer video and advertising experiences on Yahoo!.com and Yahoo!'s network of leading premium video publishers across the web. Under the terms of the agreement, Yahoo! acquired Maven Networks for approximately $160 million.
February 11, 2008
Yahoo! Board of Directors Says Microsoft's Proposal Substantially Undervalues Yahoo!
After careful evaluation, the Board believes that Microsoft's proposal substantially undervalues Yahoo! including our global brand, large worldwide audience, significant recent investments in advertising platforms and future growth prospects, free cash flow and earnings potential, as well as our substantial unconsolidated investments. The Board of Directors is continually evaluating all of its strategic options in the context of the rapidly evolving industry environment and we remain committed to pursuing initiatives that maximize value for all stockholders.
February 01, 2008
Yahoo! Board of Directors to Evaluate Unsolicited Proposal From Microsoft
Yahoo! Inc. today said that it has received an unsolicited proposal from Microsoft to acquire the Company. The Company said that its Board of Directors will evaluate this proposal carefully and promptly in the context of Yahoo!'s strategic plans and pursue the best course of action to maximize long-term value for shareholders.
August 20, 2008
Intel® And Yahoo!® To Bring The Internet To Television
Intel Corporation and Yahoo! Inc. today previewed plans for the Widget Channel, a television (TV) application framework optimized for TV and related consumer electronics (CE) devices that use the Intel Architecture. The Widget Channel will allow consumers to enjoy rich Internet applications designed for the TV while watching their favorite TV programs. TV Widgets will enable consumers to engage in a variety of experiences, such as watching videos, tracking their favorite stocks or sports teams, interacting with friends, or staying current on news and information. Viewers will be able to use TV Widgets to deepen their enjoyment of the programming they are watching, discover new content and services, or share their favorites with friends and family. TV Widgets can be personalized because they will be based upon popular Internet services such as Yahoo! Finance, Yahoo! Sports, Blockbuster® and eBay® that viewers have customized for use in their daily lives.
August 14, 2008
Frank J. Biondi, Jr. and John H. Chapple Appointed to Yahoo!'s Board of Directors
August 12, 2008
Yahoo! Launches Fire Eagle
Yahoo! today announced the general availability of Fire Eagle (http://fireeagle.yahoo.net), an open platform that helps users take their location to the Web while giving them the ability to easily control how and where their location data is shared. Fire Eagle gives users a place to store and manage information about their location, and offers developers clear protocols for updating or accessing that information. Because it's open, any networked service can use Fire Eagle to respond to a user's location - to help them find their friends, annotate the world or find nearby services or local information.
July 24, 2008
Yahoo! Zimbra Desktop - a One Stop Shop for Your E-mail Needs
Zimbra, a Yahoo! company a leader in open source, next-generation messaging and collaboration software, today announced the release of Yahoo! Zimbra Desktop Beta. Yahoo! Zimbra Desktop gives everyone access to a simple, centralized place to manage work, school and personal e-mail even when they are not connected to the Internet. Through internet protocol support called Post Office Protocol (POP) and Internet Message Access Protocol (IMAP), Yahoo! Mail, AOL Mail and Gmail can now be accessed offline at the same time, from the same place. Additionally, Yahoo! Zimbra Desktop allows users to use the iCal standard to take their calendar offline.
April 08, 2008
Flickr Adds Video to its Popular Photo-Sharing Community
Flickr, a Yahoo! company and one of the world's fastest growing online photo-sharing communities, today launched video sharing. Flickr pro members can now upload personal video clips and share them with friends, family and the world. Flickr - which has grown from 27 million to 42 million monthly visitors worldwide in the past year - serves as the 'eyes of the world' for its members globally, and with the addition of video, is giving people more ways to share what they see and experience in their everyday lives. The new enhancement is helping to advance Yahoo!'s goal to become the leading starting point on the Web by offering an even more engaging and relevant service for sharing, exploring and discovering digital imagery.
April 07, 2008
Yahoo! Previews Powerful New Online Advertising Management Platform
Yahoo! today announced intentions to bring to market AMP! from Yahoo!, a new advertising management platform designed to significantly simplify the process of buying and selling ads online. Central to Yahoo!'s strategy to be the partner of choice for advertisers, agencies, publishers and networks, AMP! will take the pain and complexity out of advertising online by providing an integrated, web-based solution that allows unprecedented ease of cross-selling across a large ecosystem of buyers and sellers. It will allow advertisers to precisely yet easily target audiences while enabling publishers to better monetize their content.
March 25, 2008
Yahoo! HotJobs Launches Insights-Driven Job Search Ranking System
Yahoo! HotJobs a leading online recruitment destination, today announced the launch of R.E.A.L., a patent pending search ranking system that is based on Relevance, Engagement, Availability and Location. R.E.A.L. is part of an overall strategic initiative designed to make the recruiting process more efficient using Yahoo! technology and to provide recruiters with unique insights into job seeker behavior.
March 04, 2008
Yahoo! Brings the Best of the Mobile Internet to Europe; Announces Availability of Yahoo! Go 3.0 and New Mobile Widgets for European Users
Yahoo! today announced at CeBIT 2008 the upcoming availability of Yahoo! Go 3.0(TM) for a number of European countries, as well as several new European-based widgets that will be accessible across Yahoo!'s mobile browser and client-based offerings. In a related announcement, Yahoo! today announced the unveiling of plans for Yahoo! onePlace(TM) -- which will be the industry's first mobile content management service.
