|Me and Marissa Mayer, CEO of Yahoo!|
I have attended a lot of annual shareholder meetings over the last several years when they are located within a reasonable driving distance, including the meetings for Apple (AAPL), Disney (DIS), and Twitter (TWTR). Today, I attended the Yahoo! Inc. (YHOO) annual meeting today, held at the Santa Clara Marriott in Santa Clara, California. I have been a shareholder of Yahoo! for many years.
One of the first things I noticed when driving into the parking lot was a bunch of protestors. I'm not exactly sure what they were protesting since the signs said something about Yahoo! and whales and ivory, which Yahoo! has nothing to do with.
There were almost 100 attendees at the meeting. After the introductions and formal business, Marissa Mayer, the CEO, first showed a video then went over the company's status, progress, and future. She first talked about how the company had over 400 feature launches and 30 major launches. She pointed out that there was an 8% increase year-over-year in GAAP revenues, and a 45% increase in Mavens (Mobile Video Native Social) GAAP revenues. The number of mobile users is in excess of 600 million, tripling the number from 2012.
Some of the goals she discussed were:
1. Play to Strengths to Increase User Engagement
2. Drive Mavens Revenue Growth
3. Simplify the Business to Improve Execution
4. Efficiently Align Resources
The company is selling off over 4,000 non-strategic patents, exiting six offices around the world, and reducing workforce by 15% by the end of 2016.
Mayer mentioned that Yahoo! now has 1 billion users, one of only three companies to reach this level, the other two being Facebook (FB) and Google (GOOGL).
The meeting ended with a question and answer session.
You can see the entire annual meeting here:
Disclosure: Author owns YHOO, AAPL, DIS, and TWTR,