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Marissa Mayer's (Value) Added: Yahoo Is Now Worth A Negative $1 Billion
Just out from Citigroup:
Yahoo! shares are down meaningfully during the last two trading days due to the decline in BABA shares, even though Yahoo! announced this week the best-case scenario for its shareholders in the form of a tax-free spin-off of its entire equity position in BABA (see our note here). The trading has created an unusual dislocation, in our opinion. Assuming 1) that the BABA stake trades at a 10% discount to BABA as a SpinCo (and, therefore, is worth $33/YHOO share at current BABA levels), and 2) that its 35% equity stake in Yahoo! Japan is valued using a 44% discount to the current market value (i.e., a 38% tax rate plus a 10% liquidity value), then the core Yahoo! business is currently valued at nearly a negative enterprise value of $1bn.
This for a business that generates >$500mn in free cash flow per year and has had stable revenues and margins. Considered another way, if we assume fair value of core Y! is 4x EBITDA and continue to fully discount the YJ stake, we believe BABA would have to drop below ~$74/sh in order for there to be further downside in YHOO shares from here, all else equal. And, we believe BABA shares would need to fall to $63/share for YHOO shares to suffer a 10% or greater decline under this scenario.
Clearly it is time for even more value added by Yahoo's ridiculously overhyped CEO to do what she does best:
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This article is sexist.
she's embarrassingly stupid
FUCK HER RIGHT IN THE PUSSY!
Well at least there is a use for her.
Her laugh is ridiculous. Can someone pull that up?!
“I really like even numbers, and I like heavily divisible numbers. Twelve is my lucky number—I just love how divisible it is. I don’t like odd numbers, and I really don’t like primes. When I turned 37, I put on a strong face, but I was not looking forward to 37. But 37 turned out to be a pretty amazing year. Especially considering that 36 is divisible by twelve!” - Marissa Mayer
LOL WTF?!
This is what happens when you are mildly autistic.
Famous proverb: Rich people are never fools.
I absolutely don't think Mayer's a fool. Hell, she might even be a savant - but the wierd number obseeion is very "Rainman."
Or very Legardesq...
she has a nice chaise longue
Given a recent story of a party near Ms Snorts' house (and yes, having heard her awful laugh, I can call her nothing else) where they rented (or possibly bought out) a funeral home to party in, it speaks to some rather macabre tastes. When she came over from Google--already worth $10 mil+ -- I thought Yahoo is shelling out money for their own dstruction. Of course the prior CEO lied about his own resume, so she comes in as a real "prize". The emphasis on selling her "glamour" as a CEO is phenomenally off-target. Perhaps only Larry Ellison could come off nearly as vain, but he has much better taste in art, so I'm giving him a bit of a pass. Alibaba was a bright spot on an otherwise unremarkable income stream. Yahoo writes the Bing search engine for Microsnot, btw, which gives yahoo a fair chunk of change, but obviously leaves a lot to be desired as far as competition to google. Perhaps this is google's long term strategy to hamstring any and all challengers...
She was CEO for a year before that photo shoot. You have to be really naive to allow a photo like that. I've never been a CEO but I know it's all about image.
Does she have two of those electronic monitoring ankle bracelets?
She must have been really drunk - usually they only use one for home monitoring.
Beat me to it.
Yeah that's a fake laugh and it is terrible.
https://www.youtube.com/watch?v=mcSujceZDmg
Young women of child bearing age should not be CEO's, they should be home or in the kitchen. Older ugly broads can fill in when a man isn't available and ugly of course means no man wants to get into her pants, so they can take her words seriously, even though behind her back they won't like her. Otherwise, yes, it's a joke. And that's just human nature.
Turning to women as "leaders' is a sign of society in rapid decline when no men are able or willing to step up.
I thought you guys were joking about her laugh until I listened to it. She sounds like somebody who rode the short bus to school.
https://www.youtube.com/watch?v=lj3iNxZ8Dww
Classic. LOL.
Sadly the result of a public school education.
A CEO who is awkward on business issues:
"On business issues, she speaks awkwardly, piling as many likes into a sentence as Alicia Silverstone in Clueless."
No wonder Yahoo is worth -$1B. Perhaps if Yahoo finds a CEO who is actually confortable with business, they'll at least break even on valuation.
LAUGH TRACK
https://www.youtube.com/watch?v=mcSujceZDmg
Luci, dere's 'sumpin's wrongk witch u
NEVER GETS OLD!
IWHI.
Line her right up for the classic pump and dump.
FUCK YEAH
Maybe if our news reporters weren't such fraudulant, fake, shallow, disingenuous automatons, this would have a different effect on me but since they are, it's fucking funny as hell!
Did you look close at the picture?
She has two ankle braclets for House Arrest & monitoring her location
Must've done something really bad in her past to have TWO braclets!
NoVa
Those are the new Y?watch. Goog and AAPL have released new smart watchs. Not wanting to compete in the same market, they rolled out the ankle watch.
Getting to -$1B in value takes some out of the box thinking.
"she's embarrassingly stupid"..... Well duh, shes blonde
(Gonna catch hell for that)
Low EQ (emotional intelligence) not low IQ
This yenta brought nothing to the picnic but ants. She'll leave this year, say she wants to turn her vagina into a clown car, and then write books about "hard choices becoming a mother CEO"...
Typical bullshit.
Its the shareholders that pay for this folly. They always do. No discernable skills but a giggle and a splash of feminism.
That New York Times article that says she's late for everything ticked me off. Total narcissist.
fuck YAHOO and their liberal shit articles. die free shit army
#SmartPower LOLOLOLOLOLOLOLOLOLOL
I would put it in her ass just to make her stop laughing
But what if she's ticklish there?
Could you imagine having sex with her and as finishing, she starts that barnyard animal laugh?
Musta been artificial insemination.
yes because we as a society need and endless supply of clickbait adds, .gov surveilance, and an obsolete search platform.
I've had my Yahoo e-mail since 1996 and is the sole reason I vist the site anymore. I even have my Geocities e-mails buried deep in the saved folder.
Too bad ZH wasn't around back then!
don't worry, that cunt got plenty
Who cares, she's pretty.
I still like her for some reason.
HA HA HA. (In Marissa Mayers laugh!!)
I see a brass pole in a dimly lit bar in her future.
From the link that Tyler posted at the end, with emphasis added:
http://www.vogue.com/865211/hail-to-the-chief-yahoos-marissa-mayer/
So, is the bolded part a Freudian slip? Intentional? Accidental? Because in today's world, it seems about right.
Edit: From that link:
These are our "captians of industry?" Fuuuuuuuuuuuuuuuuuuu
There's a blond joke in there somewhere.
When I turned 48 I told people that it was also my
2nd 24th birthday, and my
3rd 16th birthday, and my
4th 12th birthday, and my
6th 8th birthday, and my
8th 6th birthday, and my
12th 4th birthday, and my
16th 3rd birthday, and my
24th 2nd birthday.
Mostly people just looked at me funny.
That's a joke about not being as old as you really are. Hers was a numerology sort of thing. She probably doesn't believe in that stuff, but it's still a WTF statement.
And people probably looked at you funny because there are a lot of people here in the US who are really, really bad at mafs.
12 apostles
12 months
12 astrological signs of the Zodiac
12 hours on a clock
I think my work here is done.
12 is the first abundant number.
Your talent is being wasted, NA. Get your rainman ass to local casino and scalp dem injuns!
rich whore is the same as poor whore.
Nope. When rich whores catch the clap, they get it treated.
cheaper to change whore...
She cannot be that smart if she took part in the Vogue article and let this picture get out.
Kid needs to fall around the block on her face. That will mature her up real quick.
Oh ma God!....
Gag me with a spoon!!!
With a record of success like that she will be able to easily find an extra cushy government job after she is finished with yahoo...
From one bunch of yahoos to another.
Gov job? She will probably be POTUS in 6 years.
Worth negative $1 billion.
BULLISH!!!!
Yes, you know, with non-GAAP accounting and all.
She'll make it up in volume
The roses in that picture are pretty.
I am sure Susan B Anthony would be proud of this corporate schill (and by proud, I mean, "smack the shit out of her").
I will say however: she is quite smashable. As long as you put a gag in her mouth; her voice is awful I really do feel for those who have to sit through hearing her talk in conference calls.
Yahoo is a dogshit feverswamp, and that's its best quality. When is the last time you went there for anything but to take the temperature of the crazies on any one of their discussion boards. Would I post or solicit advice on one of their stock boards? No, no I would not. Would I buy that for a dollar? No, I would likewise not.
Also very bullish.
Can anyone name a woman CEO that presided over the ascent of a company? No. Woman and minorities show up in declines.
I personally know many women who have started companies and sold them for tens of millions of dollars. They made a lot of money for themselves and their investors. I know many Asians and Indians who have done the same thing.
You need to get out of Mom's basement more.
My neighbor's roommate's mom made $9,000 last month online, from her basement!
Not including family, friends, room-mates, room-mates' mates and neighbors ------ how much did she REALLY make?
You know Jack Ma!
wowzers
How's he doin?
Yeah and QE, gubernment funding are great, and I see flying unicorns everyday...
Notice your so called women entrepreneur (oxymoron) falls in the minority class:
Hint: Women+non White+LGBT or feminist stance = Gubernment Jackpot.
Disney princesses are just cartoons. They're not real.
Spanx.!
...then again, she had a fat and rich customer base ready to go...you can thank Aunt Jemima (Oprah) for that...so thats two off the top of my head buddy boy..
Martha Stewart, Meg Whitman, and Oprah are three of the highest profile. I can provide you a substantial list of successful businesses built by women.
Maybe. I suspect they both have a negative net worth. And if they stopped entertaining for their day jobs, they would have no cash flow at all. What ever hobbies they call business's are probably financial drains and tax shelters. But I am pretty cynical when it comes to someone claiming to be fantastically rich and who still works 10 hours a day singing and dancing for the man.
Meg Whitman is another company wrecker. Thank God Ebay finally dumped her. The stock was well on it way to zero before she was forced out in 2008 She didn;t build it. She came in later and bloated it. Then she blew it up with the Skype fiasco.
Check your history. Meg Whitman took the company from a few hundred million dollars up to eight billion. I'll bank on those returns any day.
And your so called women who are in "top" it's men who are behind her who do all the dirty works.
Blue piller as ever.
You can win an argument against my deeply ingrained misogyny.
And a shitty mother
Elizabeth Holmes. Theranos
Ms. Cheung Yan, Chairlady of Nine Dragons Paper
We can go on all day about this. Truth is that blacks and women are set up as the fall guy because that's what both the liberals and the neocons (liberals) want.
YEah, it's even in the charter of the White Guy's Club. We have to leave them holding the bag. Just like we did OJ.
Thanks for gubernment sponsored feminism: nothing to do with successfulness little mangina.
Heidi Fleiss
Schwing!
You're failing logic here. Just because there are idiots in the form of women and minorities who are promoted and set up as the classic "fall guy," does not mean that there aren't plenty of capable women and minorities.
Venn diagrams are your friend.
What about the lady who invented piss fenders? Trucknutz successfully rode her marketing coattails..
+1000 to Quinvarius
Political correctness at its worst. Woman are promoted, not because of talent or experience but because they are women and of course we MUST have equality.
Yeah, but she's very hot.
Look, there is no way to rebuild, because any engineers competent in that space will have better options. So Yahoo is going to be trash no matter who's in charge. I'd rather look at her than Jerry Yang while the ship sinks.
What's a Yahoo?...Even -$1 Billion is a screaming overvaluation....
Yahoo! was the modern AOL - walled garden for the internet - never understood why anyone cared about Yahoo!
She's been a great mystery to me. Just a Google wench who road that wave and bailed out and is now busily sinking the SS Yahoo. Such a fitting name for a worthless firm, Yahoo!
And that image is a precise reflection of how she got to where she is. Flat on her back, head pointing downward.
Not a CEO, but Susan Wojcicki has been in the corner office at You
Tube since its beginning. I don't participate in the comments on YouTube, but I watch a lot of vids while conducting research, how to fix stuff, and just entertain myself.
I think she's done pretty well with it.
she would look AMAZING (hand wave) in Oscar de Larenta.
Oscar de la renta.
Where's the obligatory Marissa laugh compilation?!
Seriously? Only $1Billion?
Elop burned Nokia shareholders to the tune of around $35 billion before they managed to get rid of him and subsequently EXITED THE ENTIRE MOBILE MARKET. if I remember correctly.
we all laugh funny...just some more than most..
OK. Maybe it's time to get an email account other than at Yahoo dot com...
Bing Image search filters off > Marissa Mayer naked
Not sure whether to thumb up or thumb down this news...
I'm sure Marissa Meyer is a fabulous lay...look how far she has come. In her defense, how many people have ever looked for something on the web and decided to "Yahoo it". She is trying to make it in the band-aid business against Band-Aid
Everybody, until google came along. I remember once a professor asked me to look something on yahoo. I told him about google so google we used..
I love yahoo for inciting small riots among the radical liberal trolls that lurk in the shadows of the finance message boards.
It's also all-gay-all-day with their "news." So incredibly tiresome. I blocked all Yahoo "news" sites. I'm back to all-news-all-day sites.
jewish whore
nope.
Finnish and not Jewish.
Serves them right! Fucking browser hijackers!
Her shoe's buckles look dangerously close to ankle bracelets, the government-issue kind. I'd say forshadowing, but we all know Yahoo goes boom and she skates away with a double-digit-millions separation package.
Negative billion net worth for Yahoo?
How did THAT happen?
Well she's the dipshit that spent $1 billion of investors money in retained earnings? on a high school drop out trust fund brat hipster's spam site.
That was investors' money and market cap to volume is a LITTLE high.
Wonder if the Finance MArket Utilities are going to keep the overpriced shares liquid, they have the rest of some 5000 shares to keep liquid in this FOMC market climb too- as or after the petrodollars finance market liquidity.
Ms. HYPE. She puts on a good front for the world of executives (professionalism, present-ability, good face for my age group, etc.) but she has NO brain. Of course, it's the boomer utopia - this was bound to be an epic disappointment because that's what the voting and fiscal influence has always wanted.
I guess Yahoo can write off gray matter AND a billion on their taxes.
Business Insider tried to save her. I digress.
http://www.vogue.com/865211/hail-to-the-chief-yahoos-marissa-mayer/
Tribe Twit
Tribe Twat
SHOW UR TITZ
Should be rebranded Boohoo.
I bailed out of Yahoo years ago when they put so many pop-ups and junk in front of my mail when I tried to read it I couldn't take it anymore. So, keep up the good work, I guess.
Looks like Marissa is going to fall off a cliff.
People don't even go to google anymore. They just go to amazon and buy their shit. Yahoo is going to die a fiery death fast.
That's what happen when you let a woman run a company...
Have you ever noticed that each time a woman run it, it dies more or less slowly until the inevitable outcomes:
1) They are replaced by a man.
2) Or they go bankrupt.
Feminism: ruining everything it touch like a plague...
She is working that chair like her company: backwards.
Bumped into this slag here in the BAY a few times. Has no personality and a very large ass...just sat/stood and said almost nothing while gold digger manginas tried to suck up to her, literally surrounding her - not sure who is more detestable the Manginas or this whore. She is not smart despite the CV - screwed one of the Goog guys to launch her start in SV. Since there are so few descent looking women in SV any ugly blond gets right ahead and since she thinks she is fashionable (she has standard tacky Jewish White American Chick bad taste) she got noticed and hypergamied right up the food chain. After she made all that money she screwed over a local business that had to shut down. Horrible woman who I am sure our owners will package up, put a pant suit on and become the next Hillary (if we are still around after that shedevil is done with us).
I'll take $500M to NOT be their next CEO. After this how could they possibly turn me down?
She's Finnish. Not Jewish.
Not important.
What is important is yahoo sucks.