Yahoo User Night
To our shareholders
The year in review
2013 was a year of tremendous progress at Yahoo.
Our mission at Yahoo is to make the world’s daily habits more inspiring and entertaining. From Search, Communications, Digital Magazines and Video, to Flickr and Tumblr, daily habits are our heritage and our inspiration. We re-imagined every core product to create more engaging, delightful experiences for our users across the globe. We also invested in our ad technology to build value for our advertising partners.
2013 was also a year of remarkable innovation at Yahoo.
We continued to rethink and rework the Search user experience. We are investing in Mail—the ultimate daily habit—to keep users connected with friends and family. We are focused on bringing users the best content from across the Web, through our partnerships with Comedy Central, SNL, NBC Sports, ABC News, CBS’s The Insider and others. We are also investing in editorial excellence, bringing top talent from news and journalism on board.
Tumblr, the Web’s platform for curators and creators alike, joined Yahoo in May. The Yahoo Weather app made the otherwise mundane task of checking the weather beautiful and inspiring, with curated Flickr photos. Yahoo News Digest, powered by Summly technology, captures the day’s most important news in summary form with algorithmically produced and editorially curated stories. Flickr users can now access nearly unlimited storage—one terabyte, free of charge—enough to capture an entire lifetime of photos.
2013 was a year of growth at Yahoo.
After years of decline, we saw global traffic increases across the Yahoo network. In July 2013, for the first time in our history, we surpassed 400 million monthly users on mobile. As we innovate and build new products, mobile user growth will remain an integral part of our growth strategy. For Yahoo, mobile takes the things that we’ve always excelled at—Mail, Search, Finance, News—and puts them directly in users’ pockets, making them truly daily habits. The fourth quarter of 2013 also marked our eighth consecutive quarter of year-over-year growth in Search revenue ex-TAC.
2013 was also an exciting year for our shareholders.
During 2013, we returned approximately $3.3 billion to shareholders through stock repurchases. Our stock price increased by more than 100 percent—from $19.90 on December 31, 2012 to $40.44 on December 31, 2013.
Ultimately, 2013 was a success because of the tremendous people at Yahoo.
We remain committed to making Yahoo the absolute best place to work. In 2013, we continued to build our management team, hire the best people and invest in Yahoos to position the Company for long-term growth. We saw a record number of applicants, a testament to our commitment to innovation and excellence. We also focused on removing barriers to execution so that every Yahoo can focus on delighting and entertaining our users with the best products and the best experiences on the Web.
We are forever grateful for your belief in our vision. Your continued support allows us to do what we love most—make the world’s daily habits more inspiring and entertaining. Yahoo’s future is bright, and we look forward to sharing this future with you.
Co-Founder & Chief Yahoo
Marissa A. Mayer
CEO, President & Director