Wednesday, February 13,2008 @ 11:30pm
Yahoo CEO Jerry Yang personally reassures investors
Yahoo CEO Jerry Yang today sent a letter to the company's stockholders in an attempt to reassure investors of its stance on the Microsoft deal. Yang claims that Yahoo is positioned to increase its value by around 60-percent by 2010, by emphasizing on its current business model. Citing the company's Panama search marketing system, Right Media buyer/seller meet-up service, and Blue Lithium marketing system, Yahoo is poised to grow its $2 billion in cash reserves to the double-digits by 2009.
Yang also illustrates that Yahoo is one of the most recognizable and well-used brands in the world, stating that nearly half of the internet's population makes use of Yahoos many services, such as mail, news, home pages, among others.
Yahoo's advertising network is also one of Yang's key points, featuring partners such as eBay, Comcast, AT&T, Forbes.com, Cars.com, Web MD, over 600 worldwide newspapers, among others. Yahoo is said to represent over 90-percent of advertising inventory on the internet.
Yahoo also has definitive positions in the Japanese and Chinese markets, which are both strong and have large growth potential.
"Today, Yahoo! is a faster-moving, better-organized, more nimble company than it was just a few months ago," summarizes Yang. "We have redeployed our resources to drive Yahoo!'s key strategic priorities – taking important steps to streamline our organization and close down or scale back businesses that don’t support these critical growth initiatives. We are well on our way to transforming the experiences of Yahoo!’s users, advertisers, publishers and developers – an important shift that is at the heart of our plan to create stockholder value."