Businessweek

Yahoo! Inc. operates as a technology company worldwide. The company provides various personalized products and services, including search, content, and communications tools—daily habits for various users, on the Web and on mobile devices. The company provides online properties and services (Yahoo! Properties) through its distribution network of third-party entities (Affiliates) who integrate its advertising offerings into their Websites or other offerings (those Websites and other offerings, ‘Affiliate sites’). User Offerings Yahoo.com The company is a starting point that brings together the relevant content and functionality from across the Web, including original Yahoo! content. It offers a majority of these services free of charge to its users worldwide. Majority of the company’s properties are also available in mobile-optimized versions for display on mobile phones and tablet devices, or available as native applications for iOS, Android, and Windows phones. Yahoo! Search is available free to the company’s users and serves as the starting point from which they navigate the Internet to find and discover information that matters to them. Sponsored search results are a subset of the overall search results and provide links to paying advertisers’ Web pages. Under the company’s search and advertising services and sales agreement (search agreement) with Microsoft Corporation (Microsoft), Microsoft is the algorithmic and paid search services provider on Yahoo! Properties and non-exclusive provider of such services on Affiliates sites. The company develops and launches features around the results to improve the search experience for its users. These features include Search Direct, rich results, contextual search results, site filters, related topic suggestions, and others. Yahoo! Search allows users to find the right information at the right time, whether by entering keywords in a search box or by discovering search-powered experiences wherever they are online. The company offers Yahoo! Search experiences and applications across connected devices, including PCs, tablets, and mobile phones. Yahoo! News provides original, premium, partner, and syndicated news through text, photos, and video to engage users with up-to-the-minute coverage and analysis into topical news events. In addition, the company has various primary content partnerships in place, including partnerships with ABC News, CNBC, and NBC Sports. Yahoo! Sports serves the audience of digital sports enthusiasts in the world. Yahoo! Sports is anchored by Fantasy Sports, editorial reporting, real-time scores, statistics and breaking news, coverage of the biggest global sports events, and premium college sports coverage through the company’s Rivals publisher network. During 2012, the company released various new products and innovations, including a rebuilt Sportacular application for mobile, which brings fans scores, statistics, and play-by-play for their favorite teams; and new mobile products for MLB, NFL, and NBA Fantasy (as well as a new relationship with the NBA as the official Fantasy game of NBA.com). Yahoo! Finance provides a set of financial data, information, and tools that helps users make informed financial decisions. Yahoo! Finance features a content offering that is a mix of original editorial and syndicated news through relationships with various third-party providers. Yahoo! Finance offers mobile solutions, including its Yahoo! Finance iPhone and Android applications and MarketDash for iPad. Yahoo! Entertainment and Lifestyles is a collection of properties focused on emerging trends and information in culture, women’s issues, and media. Yahoo! omg!, Movies, TV and Music are primary destinations for celebrity gossip, movie, music, and TV premieres, and awards coverage. Yahoo Shine! is targeted to women and provides tips, features, and analysis in areas, such as health, fashion, careers, and parenting. Yahoo! Video provides original, premium, and third-party news, finance, sports, entertainment, and lifestyle video content distributed in contextually relevant experiences across the company’s network. Yahoo!