Yahoo 2015 Annual Report Download - page 3
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2. Drive Mavens revenue growth. By focusing
on growing engagement and monetization
for our core consumer products, we expect
to drive long-term, sustainable growth in
Mavens revenue. In addition to monetizing
our consumer products, we see great progress
with our Mobile Developer Suite, which
leverages the tools and talent of our Flurry
acquisition to cultivate Yahoo’s developer
network and expand advertiser reach.
3. Simplify the business to improve execution.
While we’ve sunset more than 120 non-
strategic legacy products and features
during current management’s tenure, we
continue to act decisively to consolidate our
products and to retire those that haven’t
met our aggressive growth goals. And, to
further improve profitability and focus, we’ve
reduced investments in legacy products. We
also continue to explore ways to generate
value from other assets, including real estate
and IP. As we’ve shared before, management
has already delivered nearly $600 million of
total cash value from IP monetization.
4. Efficiently align resources. By spending
thoughtfully, and operating effectively, we’re
further streamlining the business to drive
profitability. Recently, we made the difficult
but necessary decisions to reduce our
workforce by approximately 15% over the
course of the year. By the end of 2016, our
workforce will be approximately 42% smaller
since Q1 2012.
Capital Allocation
Beyond our efforts to improve the strength
and value of Yahoo’s operating business, our
commitment to maximize shareholder value
extends to our track record in capital allocation.
Since early 2012, we have reduced our fully diluted
share count by approximately 270 million shares
by returning nearly $10 billion in capital proceeds
to our shareholders through buybacks. While we
thoughtfully invested in acquisitions to bolster
Mavens growth, we returned more than four times
as much capital directly to shareholders over the
same period.
With more than two decades of rich history, this
is Yahoo’s moment to realize the tremendous
value in our business. We will continue to
aggressively pursue strategic alternatives, coupled
with continued improvements in our operating
business. The Board and management team
are fully committed to delivering value to you,
our shareholders, and to position Yahoo for the
strongest future.
Above all else, thank you for your continued
confidence and support.
Marissa A. Mayer
CEO & President,
Yahoo
David Filo
Co-founder &
Chief Yahoo