Yahoo 2006 Annual Report Download - page 25

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trademark, patent, copyright and trade secret rights to third parties. Additional information regarding certain risks
related to our intellectual property is included in Part I, Item 1A “Risk Factors” of this Annual Report on Form 10-K.
EMPLOYEES
As of December 31, 2006, we had approximately 11,400 full-time employees. Our future success is substantially
dependent on the performance of our senior management and key technical personnel, as well as our continuing
ability to attract and retain highly qualified technical and managerial personnel. Additional information regarding
certain risks related to our employees is included in Part I, Item 1A “Risk Factors” of this Annual Report on
Form 10-K.
AVAILABLE INFORMATION
Our website is located at http://www.yahoo.com. Our investor relations website is located at
http://yhoo.client.shareholder.com/. We make available free of charge on our investor relations website under
“SEC Filings” our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K
and any amendments to those reports as soon as reasonably practicable after we electronically file or furnish such
materials to the U.S. Securities and Exchange Commission (“SEC”). Further, a copy of this annual report on
Form 10-K is located at the SEC’s Public Reference Room at 100 F Street, NE, Room 1580, Washington, D.C.
20549. Information on the operation of the Public Reference Room can be obtained by calling the SEC at
1-800-SEC-0330. The SEC maintains an Internet site that contains reports, proxy and information statements and
other information regarding our filings at http://www.sec.gov.
Item 1A. Risk Factors
We face significant competition from large-scale Internet content, product and service aggregators, princi-
pally Google, Microsoft and AOL.
We face significant competition from companies, principally Google, Microsoft and AOL, that have aggregated a
variety of Internet products, services and content in a manner similar to Yahoo!. Google’s Internet search service
directly competes with us for affiliate and advertiser arrangements, both of which are key to our business and
operating results. Additionally, Google offers many other services that directly compete with our services,
including a consumer e-mail service, desktop search, local search, instant messaging, photos, maps, shopping
services and advertising solutions. Microsoft has introduced its own Internet search service with paid search and
may release features that may make Internet searching capabilities a more integrated part of its Windows operating
system. AOL has access to content from Time Warner’s movie, television, music, book, periodical, news, sports and
other media holdings; access to a network of cable and other broadband users and delivery technologies; and
considerable resources for future growth and expansion. Some of the existing competitors and possible additional
entrants may have greater operational, strategic, financial, personnel or other resources than we do, as well as
greater brand recognition either overall or for certain products and services. We expect these competitors
increasingly to use their financial and engineering resources to compete with us, individually, and potentially in
combination with each other. In certain of these cases, most notably AOL, our competition has a direct billing
relationship with a greater number of their users through Internet access and other services than we have with our
users through our premium services. This relationship may permit such competitors to be more effective than us in
targeting services and advertisements to the specific preferences of their users thereby giving them a competitive
advantage. If our competitors are more successful than we are in developing compelling products or attracting and
retaining users or advertisers, then our revenues and growth rates could decline.
We also face competition from other Internet service companies, including Internet access providers, device
manufacturers offering online services and destination websites.
Our users must access our services through Internet access providers, including wireless providers and providers of
cable and broadband Internet access. To the extent that an access provider or device manufacturer offers online
services competitive with those of Yahoo!, the user may elect to use the services or properties of that access provider
or manufacturer. In addition, the access provider or manufacturer may make it difficult to access our services by not
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