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Technology Stocks : Altaba Inc. (formerly Yahoo)

AABA 19.63

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Nov 6 4:00 PM EST

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To: Bill Wexler who wrote (2366)	11/4/1997 12:54:00 AM
From: Bill Harmond	Read Replies (1) of 27307

Yahoo Japan is a joint venture with Softbank. Yahoo has a majority ownership in other international joint ventures, but I don't know about this one. In any event Yahoo has an sizeable ownership stake and runs it. So, for the sake of argument, let's say it's 50/50 minus the new public shares. Softbank owns 33% of Yahoo, so net-net Softbank owns a majority of Yahoo Japan, and the rest of us Yahoo shareholders own a minority stake, I'm guessing in the 30% range. BTW, I made a mistake (luckily in favor of my argument) on the Yahoo metrics when the company came public last year. I said that Yahoo has grown from 12 to 50 million page views per day. Actually, Yahoo had 6 million page views per day per the 10Q, so Yahoo's page views are up over 8-fold in the last 18 months.

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