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YAHOO! 1999 ANNUAL REPORT
Welcome to Yahoo!, the only place anyone in the world needs to
go to find and get connected to anything or anybody. More and
more, Yahoo! has become an essential part of people’s lives.




                                                                 ®
LEVERAGE
As a scalable global network, Yahoo! is uniquely able to
leverage its technology platform to support the changing
needs of consumers and businesses all around the world.




                                                           r




                                                           1999 ANNUAL REPORT • WWW.YAHOO.COM • © 2000 YAHOO! INC.
                                                                                                                     ®
Imagine life without cars or public transportation.
                  Yahoo! and the Web are rapidly becoming just as


              e
Put your leiafr
                  essential to people, organizations, and businesses.




 in high g oo!
                                                                        ™




  with Yah



                  1999 Annual Report www.yahoo.com ©2000 Yahoo! Inc.        ®
...............................
                 The choice is yours
Yahoo! is an open, independent destination for information
 aggregated from a variety of sources around the world.
    Our users trust us to provide the widest range of
  perspectives and content. You always have a choice                                                                                                                            .........................

   and a voice on Yahoo!, from selecting your favorite
   news source on My Yahoo!, to voicing your opinion

                                                                         Post Card
               on Yahoo! Message Boards.




                                                                                         To       .................................................................................




                                                                   ................................................................................................................




                                                                   ................................................................................................................




                                                                                                                   ................................................................




          1999 Annual Report / www.yahoo.com / ©2000 Yahoo! Inc.                                                                                                                                            ®
POST CARD

       Trust. More than 120 million individuals have put their trust in Yahoo!. When you share your
             personal preferences and interests with Yahoo!, we take that responsibility seriously.
                 In turn, we provide you with the best Web experience tailored to your needs.


                   Correspondence                                                     Address




1999 Annual Report · www.yahoo.com · ©2000 Yahoo! Inc.                                                ®
The world at your door. Yahoo! is a truly global
                                   network, made up of 21 world proper ties and


loins grace                        over 12 dif ferent languages, each managed by
                                   local Yahoos.
        ˆ
                                                                                                                                           Carte Postale




                                                                                      1999 ANNUAL REPORT WWW.YAHOO.COM ©2000 YAHOO! INC.
                        a Yahoo!
                        `
              je vais
                                                                                                                                                           ®
L E T ’ S BE H U G E T O G E T H E R

Over 3,550 advertisers and 9,000 merchants choose Yahoo! as                                                          PLACE
the platform to reach their audience and buyers. Advertisers have                                                    STAMP

ranked Yahoo! as the “best ad value” and the “best environment                                                       HERE

for advertising” (Advertising Age, October 1999).




                                                                1999 ANNUAL REPORT WWW.YAHOO.COM ©2000 YAHOO! INC.
                                                                                                                             ®
FIND ANY AUDIENCE
Yahoo! Fusion Marketing helps companies reach
people interested in their products and ser vices,
           no matter where they are.




                                                        1999 ANNUAL REPORT / WWW.YAHOO.COM / ©2000 YAHOO! INC.
                                                       q
                                                     A GENUINE
                                                      YAHOO!
                                                     POSTCARD
                                                                                                                 ®
Connect with anyone
Communicate with consumers in more than  languages.
Find new customers across the country or around the
world. Fusion Marketing on Yahoo!’s global network
gets your message heard.



Correspondence                                          Address




 Annual Report www.yahoo.com © Yahoo! Inc.                ®
SELL ANYTHING
Yahoo!’s commerce platform enables sellers to drive transactions through
their own site or on Yahoo! Shopping, Yahoo! Store, or Yahoo! Auctions.        A GENUINE
                                                                                YAHOO!
                                                                               POSTCARD




                                                                           >




 Annual Report • www.yahoo.com • ©  Yahoo! Inc.                                    ®
POST CARD

                  g on Yahoo!
                                                 GET MEASURABLE RESULTS. Combining targeted programs and research services
                                                       allows today’s marketers to maximize results with Yahoo! Fusion Marketing.
                n
  usion Marketi
F                                                Correspondence                                                               Address




                                 Annual Report www.yahoo.com © Yahoo! Inc.                                                      ®
STAMP

                    WHAT IS GOOD FOR CONSUMERS
                    IS ALSO GOOD FOR BUSINESS
                    With Yahoo!, consumers have a trusted place
                    to find the information and services they need.
                    Is there a better place to market and sell?




1999 Annual Report www.yahoo.com © 2000 Yahoo! Inc.                           ®
BE YOUR OWN BOSS
Through services like Yahoo! Store, Yahoo! Classifieds,
and Yahoo! Auctions, you can easily launch and grow
your own business. Even local merchants can leverage the
power of Yahoo! Fusion Marketing to reach an audience
around the world.




                                                           Post Card




A Genuine Yahoo! Postcard
1999 ANNUAL REPORT WWW.YAHOO.COM © 2000 YAHOO! INC.                    ®
C O M M E R C E A N D C O M M U N I T Y. Your local flea market or garage sale are not
    only ways to exchange goods, they are meeting places. Yahoo! brings this
    unique combination of commerce and community online through Yahoo!                                                                                    POSTAL SERVICE
                                                                                                                                                          WILL NOT DELIVER
    Auctions and Yahoo! Classifieds.




®
                                                                                                                                                          WITHOUT STAMP




                                                                                                                                                      M




                                                                                            1999 AN N UAL R E PORT WWW.YAHOO.COM ©2000 YAHOO! I NC.
                                                                                                                                                                             ®
Once people have found each other, Yahoo!’s community




                                                                                                                                                                       ...............................
                 tools help them build lasting relationships. Through Yahoo!
                 Chat, Yahoo! Clubs, Yahoo! Message Boards, and Yahoo!
                 Geocities, Yahoo! helps bring people together.

                                                                                                                                                                                                 .........................




Y›’re Invited!
                                                                                       Post C≥d
                                                                                                         To     .................................................................................




                                                                                 .................................................................................................................




                                                                                 ................................................................................................................




                                                                                                                                 ................................................................




                           1999 Annual Report www.yahoo.com © 2000 Yahoo! Inc.                                                                                                                                           ®
Es rápido, es gratis, es fácil
Through popular services such as Yahoo! Mail, Yahoo! Invites, and
Yahoo! Greetings, Yahoo! has become an essential way to stay in touch.




                                                   Annual Report www.yahoo.com ©  Yahoo! Inc.   ®
ON THE MONEY. From monitoring your bank account and
stock portfolios, to scheduling the payment of monthly bills,
Yahoo! Finance makes it easy to manage your money.




                                                                A Genuine Yahoo! Postcard



                                                                >




1999 ANNUAL REPORT WWW.YAHOO.COM © 2000 YAHOO! INC.                                         ®
S P O R T S , U P C L O S E A N D P E R S O N A L . Get the latest scores and statistics,
along with sporting news and inside scoops, player information, and Fantasy
Sports games. On Yahoo! Sports, you’ll find others with a passion for sports,
just like you.




                                                                                            M




A GENUINE YAHOO! POSTCARD 1999 ANNUAL REPORT WWW.YAHOO.COM ©2000 YAHOO! INC.                    ®
SEE THE WORLD WITH YAHOO! TRAVEL
Millions of businesses and individuals use Yahoo! every day to
plan vacations, book reservations, find hotels, and learn about
the world around them. Bon voyage!




                                                                                                                       POST CARD




                                                                  1999 ANNUAL REPORT WWW.YAHOO.COM ©2000 YAHOO! INC.
                                                                                                                                   ®
The latest headlines, the hottest trends, the
newest release. Whatever information you
crave, in whatever form you want it, Yahoo!
News brings it to your door all day every day.




                                                 A GENUINE YAHOO! POSTCARD 1999 ANNUAL REPORT WWW.YAHOO.COM ©2000 YAHOO! INC.
                                                                                                                                To




                                                                                                                                     ®
MAKE YAHOO! YOUR OWN
My Yahoo! allows you to craft a completely unique online
                                                               PLACE
experience, based on your own needs and interests.             STAMP
                                                                HERE




                                                           £




 Annual Report www.yahoo.com   ©    Yahoo! Inc.                ®
A PLACE FOR KID S
                                                                                                                                                         PLACE
Yahooligans! gives kids a safe place on the Web, designed just for them
                                                                                                                                                         STAMP
by certified educators. It’s fun for kids, and peace of mind for parents.
                                                                                                                                                         HERE




                                                                            GENUINE YAHOO! POSTCARD 1999 ANNUAL REPORT WWW.YAHOO.COM ©2000 YAHOO! INC.
                                                                                                                                                                 ®
THINK LOCALLY, ACT LOCALLY
  Whether you’re native or not, you can uncover hot
  spots, find your way around, discuss local issues,
 and even land a new job. Yahoo! Get Local connects
you to the information that is a vital par t of belonging
               to your local community.

                                                                                                                      ™




                                                            1999 Annual Repor t / www.yahoo.com / ©2000 Yahoo! Inc.
                                                                                                                          ®
Common Ground
Whether you are a club of two, or a group of thousands,
Yahoo! helps you find and connect with anyone.




                                                          Post Card
                                                          To: ––––––––––––

                                                          ––––––––––––––

                                                          ––––––––––––––

                                                                 ––––––––



1999 Annual Report www.yahoo.com ®2000 Yahoo! Inc.                           ®
Driving Fªw≥d
Yahoo! is well poised for the future in the areas of rich
media, globalization, mobilization, business services,
and voice services.




                                                                                                                 ™




                                                            1999 ANNUAL REPORT WWW.YAHOO.COM ©2000 YAHOO! INC.
                                                                                                                     ®
Yahoo! Everywhere
Think about all the places you’d want to yahoo. Yahoo!
is now available on mobile and non-PC devices, such as
PDAs and cell phones.




Correspondence                                           Address




 Annual Report www.yahoo.com ©  Yahoo! Inc.                ®
OPEN ALL NIGHT
With over 21 locations around the world to serve
you and more to come.

Argentina www.yahoo.com.ar
Asia www.asia.yahoo.com
Australia & New Zealand www.yahoo.com.au
Brazil www.yahoo.com.br




                                                   GENUINE YAHOO! POSTCARD 1999 ANNUAL REPORT WWW.YAHOO.COM ©2000 YAHOO! INC.
Canada www.yahoo.ca
China www.yahoo.com.cn
Chinese www.chinese.yahoo.com
Denmark www.yahoo.dk
En Espanol www.espanol.yahoo.com
France www.yahoo.fr
Germany www.yahoo.de
Hong Kong www.yahoo.com.hk
Italy www.yahoo.it
Japan www.yahoo.co.jp
Korea www.yahoo.co.kr
Mexico www.yahoo.com.mx
Norway www.yahoo.no
Singapore www.yahoo.com.sg
Spain www.yahoo.es
Sweden www.yahoo.se
Taiwan www.yahoo.com.tw
UK & Ireland www.yahoo.co.uk
                                                                                                                                ®
WAT C H A N D L I S T E N
As bandwidth grows for mainstream consumers, Yahoo! will continue
                                                                     A GENUINE
to bring users an increasingly rich online experience, integrating    YAHOO!

streamed audio and video throughout the Yahoo! network.              POSTCARD




1999 Annual Report www.yahoo.com © 2000 Yahoo! Inc.
                                                                                 ®
GET DOWN TO BUSINESS
In addition to using Yahoo! to connect with customers,
businesses use Yahoo! to communicate with employees,
  suppliers, and investors through Corporate Yahoo!,
   Yahoo! Broadcast, Yahoo! NetRoadshow, and the
               Yahoo! B2B MarketPlace.



                                                         POST CARD




1999 Annual Report www.yahoo.com © 2000 Yahoo! Inc.                  ®
VOICE ON THE WEB
Yahoo! offers users simple, easy-to-use voice-enabled
services in Yahoo! Messenger, Yahoo! Chat, and Yahoo!
Clubs. These services allow people to conduct real-time
conversations using the Internet.Watch as we continue
to integrate voice across relevant areas of our network
to better serve our consumers.




                                                          1999 ANNUAL REPORT WWW.YAHOO.COM © 2000 YAHOO! INC.
                                                                                                                POST CARD




                                                                                                                            ®
THE FUTURE
                     No one can predict the future, but by listening to our users and
                     observing audience trends, Yahoo! is constantly evolving and
                     growing to anticipate and meet the needs of people worldwide.




                     1999 Annual Report www.yahoo.com © 2000 Yahoo! Inc.
YA   H   O   O   !                                                                      ®
Dear Shareholders,
We set out five years ago to build Yahoo! into the only place anyone
in the world would have to go to find and get connected to anything




                                                                          A GENUINE YAHOO! POSTCARD 1999 ANNUAL RREPORT WWW.YAHOO.COM © 2000 YAHOO! INC.
or anybody. Our goal was to attract and retain as large a global
audience as possible and give consumers a single, trusted, and
comprehensive place to go for all of their daily needs, be it content,
things to buy, or ways to communicate with each other. From a
business perspective, we set out to create a global, comprehensive,
branded network. During 1999, we continued to be very aggressive
and made truly significant progress in growing our global enterprise.
We finished the year having established a massive global audience,
and on a financial basis we consistently exceeded expectations
delivering record revenues and profits, while simultaneously investing
heavily in growing our market share....

 Sincerely,




 Tim Koogle
 Chairman and Chief Executive Officer, Yahoo! Inc.


P.S. Find the rest of my letter at http://docs.yahoo.com/info/investor/                                                                                    ®
Chief Yahoos
David Filo and Jerry Yang




                                                         ™




 Annual Report · www.yahoo.com · © Yahoo! Inc.       ®
YAHOO! INC.
3420 Central Expressway
                                                                                                          PLACE
Santa Clara, CA 95051                                                                                     STAMP
408.731.3300                                                                                               HERE




                          A GENUINE YAHOO! POSTCARD 1999 ANNUAL REPORT WWW.YAHOO.COM © 2000 YAHOO! INC.
                                                                                                                  ®

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1999 Annual Report

  • 1. YAHOO! 1999 ANNUAL REPORT Welcome to Yahoo!, the only place anyone in the world needs to go to find and get connected to anything or anybody. More and more, Yahoo! has become an essential part of people’s lives. ®
  • 2. LEVERAGE As a scalable global network, Yahoo! is uniquely able to leverage its technology platform to support the changing needs of consumers and businesses all around the world. r 1999 ANNUAL REPORT • WWW.YAHOO.COM • © 2000 YAHOO! INC. ®
  • 3. Imagine life without cars or public transportation. Yahoo! and the Web are rapidly becoming just as e Put your leiafr essential to people, organizations, and businesses. in high g oo! ™ with Yah 1999 Annual Report www.yahoo.com ©2000 Yahoo! Inc. ®
  • 4. ............................... The choice is yours Yahoo! is an open, independent destination for information aggregated from a variety of sources around the world. Our users trust us to provide the widest range of perspectives and content. You always have a choice ......................... and a voice on Yahoo!, from selecting your favorite news source on My Yahoo!, to voicing your opinion Post Card on Yahoo! Message Boards. To ................................................................................. ................................................................................................................ ................................................................................................................ ................................................................ 1999 Annual Report / www.yahoo.com / ©2000 Yahoo! Inc. ®
  • 5. POST CARD Trust. More than 120 million individuals have put their trust in Yahoo!. When you share your personal preferences and interests with Yahoo!, we take that responsibility seriously. In turn, we provide you with the best Web experience tailored to your needs. Correspondence Address 1999 Annual Report · www.yahoo.com · ©2000 Yahoo! Inc. ®
  • 6. The world at your door. Yahoo! is a truly global network, made up of 21 world proper ties and loins grace over 12 dif ferent languages, each managed by local Yahoos. ˆ Carte Postale 1999 ANNUAL REPORT WWW.YAHOO.COM ©2000 YAHOO! INC. a Yahoo! ` je vais ®
  • 7. L E T ’ S BE H U G E T O G E T H E R Over 3,550 advertisers and 9,000 merchants choose Yahoo! as PLACE the platform to reach their audience and buyers. Advertisers have STAMP ranked Yahoo! as the “best ad value” and the “best environment HERE for advertising” (Advertising Age, October 1999). 1999 ANNUAL REPORT WWW.YAHOO.COM ©2000 YAHOO! INC. ®
  • 8. FIND ANY AUDIENCE Yahoo! Fusion Marketing helps companies reach people interested in their products and ser vices, no matter where they are. 1999 ANNUAL REPORT / WWW.YAHOO.COM / ©2000 YAHOO! INC. q A GENUINE YAHOO! POSTCARD ®
  • 9. Connect with anyone Communicate with consumers in more than  languages. Find new customers across the country or around the world. Fusion Marketing on Yahoo!’s global network gets your message heard. Correspondence Address  Annual Report www.yahoo.com © Yahoo! Inc. ®
  • 10. SELL ANYTHING Yahoo!’s commerce platform enables sellers to drive transactions through their own site or on Yahoo! Shopping, Yahoo! Store, or Yahoo! Auctions. A GENUINE YAHOO! POSTCARD >  Annual Report • www.yahoo.com • ©  Yahoo! Inc. ®
  • 11. POST CARD g on Yahoo! GET MEASURABLE RESULTS. Combining targeted programs and research services allows today’s marketers to maximize results with Yahoo! Fusion Marketing. n usion Marketi F Correspondence Address  Annual Report www.yahoo.com © Yahoo! Inc. ®
  • 12. STAMP WHAT IS GOOD FOR CONSUMERS IS ALSO GOOD FOR BUSINESS With Yahoo!, consumers have a trusted place to find the information and services they need. Is there a better place to market and sell? 1999 Annual Report www.yahoo.com © 2000 Yahoo! Inc. ®
  • 13. BE YOUR OWN BOSS Through services like Yahoo! Store, Yahoo! Classifieds, and Yahoo! Auctions, you can easily launch and grow your own business. Even local merchants can leverage the power of Yahoo! Fusion Marketing to reach an audience around the world. Post Card A Genuine Yahoo! Postcard 1999 ANNUAL REPORT WWW.YAHOO.COM © 2000 YAHOO! INC. ®
  • 14. C O M M E R C E A N D C O M M U N I T Y. Your local flea market or garage sale are not only ways to exchange goods, they are meeting places. Yahoo! brings this unique combination of commerce and community online through Yahoo! POSTAL SERVICE WILL NOT DELIVER Auctions and Yahoo! Classifieds. ® WITHOUT STAMP M 1999 AN N UAL R E PORT WWW.YAHOO.COM ©2000 YAHOO! I NC. ®
  • 15. Once people have found each other, Yahoo!’s community ............................... tools help them build lasting relationships. Through Yahoo! Chat, Yahoo! Clubs, Yahoo! Message Boards, and Yahoo! Geocities, Yahoo! helps bring people together. ......................... Y›’re Invited! Post C≥d To ................................................................................. ................................................................................................................. ................................................................................................................ ................................................................ 1999 Annual Report www.yahoo.com © 2000 Yahoo! Inc. ®
  • 16. Es rápido, es gratis, es fácil Through popular services such as Yahoo! Mail, Yahoo! Invites, and Yahoo! Greetings, Yahoo! has become an essential way to stay in touch.  Annual Report www.yahoo.com ©  Yahoo! Inc. ®
  • 17. ON THE MONEY. From monitoring your bank account and stock portfolios, to scheduling the payment of monthly bills, Yahoo! Finance makes it easy to manage your money. A Genuine Yahoo! Postcard > 1999 ANNUAL REPORT WWW.YAHOO.COM © 2000 YAHOO! INC. ®
  • 18. S P O R T S , U P C L O S E A N D P E R S O N A L . Get the latest scores and statistics, along with sporting news and inside scoops, player information, and Fantasy Sports games. On Yahoo! Sports, you’ll find others with a passion for sports, just like you. M A GENUINE YAHOO! POSTCARD 1999 ANNUAL REPORT WWW.YAHOO.COM ©2000 YAHOO! INC. ®
  • 19. SEE THE WORLD WITH YAHOO! TRAVEL Millions of businesses and individuals use Yahoo! every day to plan vacations, book reservations, find hotels, and learn about the world around them. Bon voyage! POST CARD 1999 ANNUAL REPORT WWW.YAHOO.COM ©2000 YAHOO! INC. ®
  • 20. The latest headlines, the hottest trends, the newest release. Whatever information you crave, in whatever form you want it, Yahoo! News brings it to your door all day every day. A GENUINE YAHOO! POSTCARD 1999 ANNUAL REPORT WWW.YAHOO.COM ©2000 YAHOO! INC. To ®
  • 21. MAKE YAHOO! YOUR OWN My Yahoo! allows you to craft a completely unique online PLACE experience, based on your own needs and interests. STAMP HERE £  Annual Report www.yahoo.com ©  Yahoo! Inc. ®
  • 22. A PLACE FOR KID S PLACE Yahooligans! gives kids a safe place on the Web, designed just for them STAMP by certified educators. It’s fun for kids, and peace of mind for parents. HERE GENUINE YAHOO! POSTCARD 1999 ANNUAL REPORT WWW.YAHOO.COM ©2000 YAHOO! INC. ®
  • 23. THINK LOCALLY, ACT LOCALLY Whether you’re native or not, you can uncover hot spots, find your way around, discuss local issues, and even land a new job. Yahoo! Get Local connects you to the information that is a vital par t of belonging to your local community. ™ 1999 Annual Repor t / www.yahoo.com / ©2000 Yahoo! Inc. ®
  • 24. Common Ground Whether you are a club of two, or a group of thousands, Yahoo! helps you find and connect with anyone. Post Card To: –––––––––––– –––––––––––––– –––––––––––––– –––––––– 1999 Annual Report www.yahoo.com ®2000 Yahoo! Inc. ®
  • 25. Driving Fªw≥d Yahoo! is well poised for the future in the areas of rich media, globalization, mobilization, business services, and voice services. ™ 1999 ANNUAL REPORT WWW.YAHOO.COM ©2000 YAHOO! INC. ®
  • 26. Yahoo! Everywhere Think about all the places you’d want to yahoo. Yahoo! is now available on mobile and non-PC devices, such as PDAs and cell phones. Correspondence Address  Annual Report www.yahoo.com ©  Yahoo! Inc. ®
  • 27. OPEN ALL NIGHT With over 21 locations around the world to serve you and more to come. Argentina www.yahoo.com.ar Asia www.asia.yahoo.com Australia & New Zealand www.yahoo.com.au Brazil www.yahoo.com.br GENUINE YAHOO! POSTCARD 1999 ANNUAL REPORT WWW.YAHOO.COM ©2000 YAHOO! INC. Canada www.yahoo.ca China www.yahoo.com.cn Chinese www.chinese.yahoo.com Denmark www.yahoo.dk En Espanol www.espanol.yahoo.com France www.yahoo.fr Germany www.yahoo.de Hong Kong www.yahoo.com.hk Italy www.yahoo.it Japan www.yahoo.co.jp Korea www.yahoo.co.kr Mexico www.yahoo.com.mx Norway www.yahoo.no Singapore www.yahoo.com.sg Spain www.yahoo.es Sweden www.yahoo.se Taiwan www.yahoo.com.tw UK & Ireland www.yahoo.co.uk ®
  • 28. WAT C H A N D L I S T E N As bandwidth grows for mainstream consumers, Yahoo! will continue A GENUINE to bring users an increasingly rich online experience, integrating YAHOO! streamed audio and video throughout the Yahoo! network. POSTCARD 1999 Annual Report www.yahoo.com © 2000 Yahoo! Inc. ®
  • 29. GET DOWN TO BUSINESS In addition to using Yahoo! to connect with customers, businesses use Yahoo! to communicate with employees, suppliers, and investors through Corporate Yahoo!, Yahoo! Broadcast, Yahoo! NetRoadshow, and the Yahoo! B2B MarketPlace. POST CARD 1999 Annual Report www.yahoo.com © 2000 Yahoo! Inc. ®
  • 30. VOICE ON THE WEB Yahoo! offers users simple, easy-to-use voice-enabled services in Yahoo! Messenger, Yahoo! Chat, and Yahoo! Clubs. These services allow people to conduct real-time conversations using the Internet.Watch as we continue to integrate voice across relevant areas of our network to better serve our consumers. 1999 ANNUAL REPORT WWW.YAHOO.COM © 2000 YAHOO! INC. POST CARD ®
  • 31. THE FUTURE No one can predict the future, but by listening to our users and observing audience trends, Yahoo! is constantly evolving and growing to anticipate and meet the needs of people worldwide. 1999 Annual Report www.yahoo.com © 2000 Yahoo! Inc. YA H O O ! ®
  • 32. Dear Shareholders, We set out five years ago to build Yahoo! into the only place anyone in the world would have to go to find and get connected to anything A GENUINE YAHOO! POSTCARD 1999 ANNUAL RREPORT WWW.YAHOO.COM © 2000 YAHOO! INC. or anybody. Our goal was to attract and retain as large a global audience as possible and give consumers a single, trusted, and comprehensive place to go for all of their daily needs, be it content, things to buy, or ways to communicate with each other. From a business perspective, we set out to create a global, comprehensive, branded network. During 1999, we continued to be very aggressive and made truly significant progress in growing our global enterprise. We finished the year having established a massive global audience, and on a financial basis we consistently exceeded expectations delivering record revenues and profits, while simultaneously investing heavily in growing our market share.... Sincerely, Tim Koogle Chairman and Chief Executive Officer, Yahoo! Inc. P.S. Find the rest of my letter at http://docs.yahoo.com/info/investor/ ®
  • 33. Chief Yahoos David Filo and Jerry Yang ™  Annual Report · www.yahoo.com · © Yahoo! Inc. ®
  • 34. YAHOO! INC. 3420 Central Expressway PLACE Santa Clara, CA 95051 STAMP 408.731.3300 HERE A GENUINE YAHOO! POSTCARD 1999 ANNUAL REPORT WWW.YAHOO.COM © 2000 YAHOO! INC. ®