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1997 Annual Report

Table of contents

  • Page 1
    1 9 9 7 A n n u a l Re p o r t

  • Page 2
    ...s e t h e In t e rn e t for in form a t ion , e n t e rt a in m e n t , com m u n ica t ion , a n d com m e rce . Th is com m u n it y con s is t s of a ll a g e s , g e n d e rs , a n d n a t ion a lit ie s - a w id e a rra y of in t e re s t s a n d n e e d s . An d t h e y a re m a kin g t h e In...

  • Page 3
    ... s t o w a lk a fin e lin e b e t w e e n h is d e vot ion t o fa m ily a n d t h e d e m a n d s of h is ca re e r. Fran ce s d a n ce s t o a d iffe re n t d ru m m e r. Du rin g t h e d a y, s h e rid e s h e r Ha rle y a n d w orks in h e r org a n ic g a rd e n . At n ig h t s h e live s t o la...

  • Page 4
    ... y a re lookin g for, Ya h oo! h e lp s t h e m fin d it . c o m m u n ic a t io n Ma x is a Ya h oo! re g u la r a n d h a s cu s t om ize d h is My Ya h oo! p a g e t o g ive h im t h e la t e s t s p ort s s core s a n d m u s ic n e w s . Now t h a t h e h a s e m a il, h e ca n ke e p u p w it...

  • Page 5
    ... e s on Ya h oo!, Sid n ot ice d a n a d for a n e w b u s in e s s s h oe . In t rig u e d b y t h e id e a of com fort a b le w in g t ip s , h e clicke d on t h e a d . Ma x w a s u s in g Ya h oo! t o fin d in form a t ion on t h e h ot t e s t n e w h ig h t op s . He fou n d a colle ct ion of...

  • Page 6
    12/ 97 65 .0 6/9 7 38 .0 12 / 9 6 .0 20 9 .0 6/9 6 1 19 997 96 P a g e Vi e w Gro w t h Ave ra g e p a g e vie w s p e r d a y in m illion s VIII IX

  • Page 7
    Q4 Q2 Q4 Q2 '9 6 '9 6 '9 7 '9 7 55 23 0 0 90 0 1 ,7 00 Gro w i n g A d v e rt i s e r Ba s e h

  • Page 8
    ... o fin d re le va n t in form a t ion , s e rvice s , a n d s olu t ion s . Bu t Ya h oo! is m ore t h a n s im p ly a g u id e , it is h om e t o t h e We b 's m os t p op u la r com m u n it y. Ya h oo! h e lp s a d ve rt is e rs m e e t a n d a d d re s s t h is com m u n it y in a n e ffe ct ive...

  • Page 9
    ... p e op le a re m a kin g it p a rt of t h e ir live s . Ya h oo! p rovid e s a d ve rt is e rs w it h a s im p le a n d p rove n w a y t o com m u n ica t e d ire ct ly w it h t h is g row in g a u d ie n ce . Ma rke t e rs con s id e r Ya h oo! a n in t e g ra l p a rt of t h e ir a d ve rt is in...

  • Page 10
    ... ex t ra com fort Ad ve rt is e rs s p e n d a lot of t im e a n d m on e y t ryin g t o com m u n ica t e t h e rig h t m e s s a g e . Th e y s a y d iffe re n t t h in g s d e p e n d in g on t h e p rod u ct t h e y a re s e llin g , or t h e cu s t om e r t h e y w a n t t o re a ch . Ya h oo...

  • Page 11
    Ad ve rt is e rs n e e d t o con n e ct w it h p e op le . Wh e t h e r t h e y h a ve p rod u ct s t o s e ll or s e rvice s t o offe r, a com p a n y's s u cce s s d e p e n d s on fin d in g p e op le w h o ca re a b ou t t h e ir m e s s a g e a n d t h e n re s p on d t o it . Ya h oo! offe rs ...

  • Page 12
    1 9 9 7 A n n u a l Re p o r t

  • Page 13
    ... Du rin g 1997, Ya h oo! e xt e n d e d it s con t e n t , com m e rce , com m u n ica t ion , a n d com m u n it y offe rin g s on a w id e n u m b e r of fron t s . Ya h oo! Ne w s (h t t p :/ / d a ilyn e w s .ya h oo.com ) a n d Ya h oo! Fin a n ce (h t t p :/ / q u ot e .ya h oo.com ) w e re ra...

  • Page 14
    ...m ie r s u b s crip t ion s e rvice a n d t h e fre e MSN.com We b s it e . Ya h oo! is a ls o a p re m ie r s e a rch a n d n a vig a t ion p rovid e r on Ne t s ca p e b row s e rs . In a d d it ion , Ya h oo! s e rvice s a re n ow a va ila b le t o u s e rs d ire ct ly from t h e d e s kt op s of...

  • Page 15
    ... ra n s a ct ion s . Th e s e re ve n u e s a re re cog n ize d b y t h e Com p a n y u p on n ot ifica t ion from t h e a d ve rt is e r of re ve n u e s e a rn e d b y Ya h oo! a n d , t o d a t e , h a ve n ot b e e n s ig n ifica n t . 1997 1995 Ba l a n c e S h e e t s D a t a : Ca s h , ca...

  • Page 16
    ... in Da lla s , Te xa s a g a in s t Ne t s ca p e a n d t h e Com p a n y, in w h ich GTE Ne w Me d ia m a d e a n u m b e r of cla im s re la t in g t o t h e in clu s ion of ce rt a in Ye llow Pa g e s h yp e rt e xt lin ks in t h e Ne t s ca p e Gu id e b y Ya h oo!, a n on lin e n a vig a t ion...

  • Page 17
    ... is in g re ve n u e g u a ra n t e e s of u p t o $18,500,000 ove r t h e n e xt 15 m on t h s re la t in g t o t h e Ne t s ca p e Gu id e By Ya h oo!, w h ich s u b je ct t h e Com p a n y t o a d d it ion a l ris k in t h e e ve n t t h a t a d ve rt is in g re ve n u e s from t h is p rop e rt...

  • Page 18
    ...rch a s e d in t h e Com p a n y's 1997 a cq u is it ion of Ne t Con t rols for $1,400,000, is ca p it a lize d a n d a m ort ize d ove r it s u s e fu l life . Th e Com p a n y b e lie ve s t h a t s ig n ifica n t in ve s t m e n t s in p rod u ct d e ve lop m e n t a re re q u ire d t o re m a in...

  • Page 19
    ... e n com p os e d of p u rch a s e s of com p u t e r h a rd w a re a n d s oft w a re a s w e ll a s of fu rn it u re a n d le a s e h old im p rove m e n t s re la t e d t o le a s e d fa cilit ie s . For t h e ye a r e n d e d De ce m b e r 31, 1997, ca s h p rovid e d b y fin a n cin g a ct ivit...

  • Page 20
    ...t u re . Ad d it ion a lly, t h e Com p a n y w ill con t in u e t o e va lu a t e p os s ib le a cq u is it ion s of, or in ve s t m e n t s in b u s in e s s e s , p rod u ct s , a n d t e ch n olog ie s t h a t a re com p le m e n t a ry t o t h os e of t h e Com p a n y, w h ich m a y re q u ire...

  • Page 21
    ...la n s - - Writ e -u p of in ve s t m e n t in Ya h oo! J a p a n - - Com p e n s a t ion e xp e n s e on op t ion g ra n t s - - Ne t los s - - Fore ig n cu rre n cy t ra n s la t ion a d ju s t m e n t - - Ba la n ce a t De ce m b e r 31, 1997 - $ - 15,579,530 $ 1,000 $ 2,000 $ - $ - $ 3,000...

  • Page 22
    ... cu rit ie s In ve s t m e n t in Au d ioNe t In ve s t m e n t in Ya h oo! J a p a n Ne t ca s h p rovid e d b y (u s e d in ) in ve s t in g a ct ivit ie s C A S H F LO W S F R O M F I N A N C I N G A C T I V I T I E S : Proce e d s from is s u a n ce of Com m on St ock, n e t Proce e d s from is...

  • Page 23
    ..., 1997 a n d t h e a ccom p a n yin g n ot e s re fle ct t h e Com p a n y's fin a n cia l p os it ion a n d t h e re s u lt s of op e ra t ion s a s if Fou r11 w a s a w h olly-ow n e d s u b s id ia ry of t h e Com p a n y s in ce in ce p t ion . As s e p a ra t e com p a n ie s , Ya h oo! a ccou...

  • Page 24
    ... fu n ct ion a l cu rre n cy of t h e Com p a n y's s u b s id ia rie s in t h e Un it e d Kin g d om , Ge rm a n y, Fra n ce , Sw e d e n , De n m a rk, Norw a y, Au s t ra lia , Sin g a p ore , a n d Kore a is t h e loca l cu rre n cy. Th e fin a n cia l s t a t e m e n t s of t h e s e s u b s id...

  • Page 25
    ... h re e ye a r e s t im a t e d u s e fu l life of t h e t e ch n olog y a cq u ire d . Up on a cq u is it ion , t h e h is t orica l fin a n cia l re s u lt s of Ne t Con t rols , In c. w e re d e m in im is . A c q u i s i t i o n o f F o u r1 1 . On Oct ob e r 20, 1997, t h e Com p a n y com p le...

  • Page 26
    ... ich w a rra n t w a s e xe rcis a b le d u rin g a t w o ye a r p e riod com m e n cin g in Ma rch 1997. In Ap ril 1997, t h e Vis a Grou p n e t e xe rcis e d t h e w a rra n t . Du rin g J u ly 1997, p rior t o t h e com p le t ion of s ig n ifica n t b u s in e s s a ct ivit ie s a n d p u b lic...

  • Page 27
    ... op t ion s is s u e d b e low fa ir m a rke t va lu e b e t w e e n Au g u s t 1996 a n d Se p t e m b e r 1997, of w h ich t h e Com p a n y re cord e d $1,059,000 a n d $8,000 d u rin g t h e ye a rs e n d e d De ce m b e r 31, 1997 a n d 1996, re s p e ct ive ly. Th e re m a in in g $1,101,000...

  • Page 28
    ... r 31, 1997, t h e Com p a n y h a d a p p roxim a t e ly $54,200,000 of fe d e ra l n e t op e ra t in g los s ca rryforw a rd s for t a x re p ort in g p u rp os e s a va ila b le t o offs e t fu t u re t a xa b le in com e ; s u ch ca rryforw a rd s w ill e xp ire b e g in n in g in 2010. Ad d it...

  • Page 29
    ... t e ria l re s p e ct s , t h e fin a n cia l p os it ion of Ya h oo! In c. a n d it s s u b s id ia rie s a t De ce m b e r 31, 1997 a n d 1996, a n d t h e re s u lt s of t h e ir op e ra t ion s a n d t h e ir ca s h flow s for t h e ye a rs e n d e d De ce m b e r 31, 1997, 1996, a n d 1995, in...

  • Page 30
    ...s id e n t , Fin a n ce John Place Ge n e ra l Cou n s e l a n d Se cre t a ry An il Sin g h Vice Pre s id e n t , Ad ve rt is in g Sa le s Eri c Hi p p e a u Dire ct or (1) A rt h u r Ke rn Dire ct or (1) (2) Mi c h a e l Mo ri t z Dire ct or (1) (2) Co rp o ra t e He a d q u a rt e rs Ya h oo! In...

  • Page 31
    ... oo! Da ily Ne w s Fu ll Cove ra g e Fin a n ce Sp ort s We a t h e r TV Cove ra g e Ne t Eve n t s ...w o rl d Ya h o o !s Ya h oo! Ya h oo! Ya h oo! Ya h oo! Ya h oo! Ya h oo! Ya h oo! Ya h oo! Ya h oo! Ya h oo! Ya h oo! in As ia Au s t ra lia & Ne w Ze a la n d Ca n a d a De n m a rk Fra n ce Ge...