YAHOO'S JERRY YANG SAYS THERE ARE MANY OPTIONS BESIDES A SALE

Yahoo co-founder Jerry Yang said on Thursday that the company’s board continues its strategic review process, but that there are a number of options beyond just selling the company.
“The intent going in is not to put ourselves for sale,” Yang said, speaking at AsiaD. “The intent is to look at all the options.”

And while selling the company as a whole is one option, Yang noted that the company is made up of three key parts — its core business, its stakes in Yahoo Japan (along with Softbank) and its share of Alibaba.
Asked what he would personally like to see happen with the company, Yang said his goal is just to see Yahoo reach its potential. “There are many ways of creating that environment,” he said. “So far, we have not ruled out any possibilities.”

Yang acknowledged that Wall Street now looks at the company’s Asian stakes as a significant part of its market value. “They are looking at a core asset that they don’t know how to value.”
As for that core business, Yang insisted that the company remains a premier digital media company, despite its challenges. “We ought to be growing, can be growing,” Yang said, insisting the company has a great brand and 700 million monthly users. “We really do believe there is a path for Yahoo that can be better and higher growth.”

LEAK: JERRY YANG MEMO SAYS YAHOO IS FOR SALE

After Yahoo fired CEO Carol Bartz, cofounder Jerry Yang told employees that the company had not begun a sales process.
Since then, reports here and elsewhere have suggested that is a bunch of malarkey and that Yahoo's board is very much putting the company up for sale.
Today, Yang copped to as much in a company-wide memo.
In it he says that Yahoo has hired investment bank Allen & Company to help it field "inquiries from multiple parties that have already expressed interest in a number of potential options."

Dear Yahoos:

In our recent all hands meeting, we talked about the Board’s strategic review to help return the Company to a path of robust growth and industry-leading innovation. While our teams are working to evaluate the many opportunities by which Yahoo! can continue building on our success, all kinds of people have been – and will continue – speculating in the media about where that work is headed, so we thought it best to provide you with some additional context directly from those of us who are closest to it. We don’t have specific news to share with you today, but we are committed to communicating with you directly from time to time – especially given the level of external swirl – so that you know where we are in the process. You can expect periodic updates from us and we encourage you to communicate with us as well.

At the heart of what we are doing is our belief that Yahoo!’s core strengths are not only relevant to where users are going today, but can serve as a foundation for the next phase of our company’s growth. Consider our strengths: we have 680 million users worldwide. We have nine of the #1 properties in the U.S., and we are a leader in display advertising. Our brand is iconic – we are not the only ones who bleed purple. By whatever measure you want to use – engagement, quality of products and services, our value to our advertisers – we all feel that we have what it takes to succeed. Also, our Asia assets remain one of our top priorities and we continue to work well with the teams there. As you may have seen, Alibaba Group has just announced a liquidity event for its employees that reflects a continued appreciation in its value, and therefore of the value of our stake.

What Yahoo! needs to do better – and we’ve talked about this – is accelerate innovation, reignite inspiration, and give our users what they want now – great content that is engaging and easy-to-use on any device and provides an experience in which they can participate and contribute. Perhaps most importantly, we need to anticipate what they will want next. That is the path to enhancing the value of Yahoo! for all of its stakeholders, including its users, customers, shareholders, partners and Yahoos everywhere. Our strategic review is designed to help us map out the best way to achieve that.

At this point, we cannot offer many specifics about the Board’s review; we’ve just gotten started. You should know that the entire Board and management team are fully aligned and unanimous in their views regarding the scope of this work. Allen & Company was a logical choice to help us in this review, because they have been one of our advisers for some time, and this is familiar territory for them. Achieving success in our sector is intrinsic to what they do for a living, and they will be constructive partners.

Our advisers are working with us to develop ideas that we will pursue proactively. At the same time, they are fielding inquiries from multiple parties that have already expressed interest in a number of potential options. We will take the time we need to select and structure the best approach for the company, its shareholders and employees.

In addition, as we announced previously, the Board has commenced a search for a permanent Chief Executive Officer. That process also continues.

When we have updates that we can share we will do so. There will be plenty of rumors and speculation as different parties try to advance their agendas in the media – but it is important that we not be distracted by the rumors and speculation.

You are instrumental to the success of our business – we can’t do it without you. While we will move with a sense of urgency, this process will take time. Months, not weeks. We know that’s a lot of potential distraction, but we believe it will be worth the wait. We are forging a path to a next phase of growth for Yahoo! that feels like our best days: fun, full of possibility, and always in search of how to deliver the new thing people want from us. Together, we can write the next great chapter in the Yahoo! story and secure our place as one of those rarities: an internet company that endures.

Jerry Roy David

BARTZ OUT AS YAHOO CEO, COMPANY UP FOR SALE

Following recent rumblings surrounding discontent atop Yahoo’s executive chain, the struggling Internet company fired its CEO Carol Bartz. In the same stroke, Yahoo! also revealed that it is for sale. News broke Tuesday night that former chief executive Carol Bartz sent an email to the entire Yahoo organization. In her brief note, she stated that Yahoo’s chairman of the board had fired her, over the phone, no less. Yahoo confirmed the news, stating that Chief Financial Officer Tim Morse would step in as interim CEO while the company searches for a new chief.

Following the news, a Yahoo employee speaking with The Wall Street Journal also confirmed that the company would be open to selling itself. “Yahoo is open to selling itself to the right bidder,” the Journal wrote. No additional details were provided.