This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

The Tao of Yahoo!

Hongyi, who once he joined Yahoo! vowed that his mission was to kick Google's butt in China, denied rumors earlier this year that he planned to resign to spend more time with his family. Last month, however, he did announce he would step down on Aug. 31. Yang, who applauded Hongyi's contribution to Yahoo! China, said the purchase of Alibaba had nothing to do with his resignation.

Yahoo's seemingly capricious entry into China follows its mixed success in Japan. Yahoo! Japan displaced eBay as the premier online-auction site in Japan, but that joint venture has long been majority owned by Japanese venture capital firm Softbank.

Softbank held a significant but undisclosed stake in Alibaba, but Yang said that stake would be smaller than Yahoo!'s after its $1 billion investment in the company.

"We'll be the largest shareholder and Softbank will be a significant shareholder," Yang said. "Yahoo! will be the biggest shareholder, and Yahoo! and Alibaba will work with each other, but this is a company built and led by Mr. Ma."

3 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
BIDU $207.87 0.00%
EBAY $55.79 0.00%
GOOG $524.05 0.00%
YHOO $44.45 0.00%
AAPL $124.75 0.00%


DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs