SpringOwl Activist Presentation Deck
Step Nine: Look for Other Value Creation
Opportunities
▪ No more free food to the tune of $450 million over 4 years
Yahoo is like a start-up and start-ups can't afford luxurious caterers like Bon Appetit
No more lavish parties for employees like the Great Gatsby themed one in December
2015 costing $7M
●
●
▪ No more wealth transfers of cash from Yahoo shareholders to boost the coffers of failed
zombie companies on whose boards the CEO sits
■
▪ No more Met Ball or Davos sponsorships
Stomp out the practice of referring traffic off of the Yahoo homepage to external sites with no
chance for them to return; it's great for the other sites sucking up Yahoo traffic and not so
great for Yahoo shareholders
▪ Build out a syndication display ad business
Syndicate Yahoo unique content
Properly finish Ad Tech offerings or outsource to Facebook or Google
▪ Go back to the old logo and raise the old Yahoo billboard on the 101 into San Francisco to
send a message that the era of Marissa Mayer is now over
Source: Confidential Interviews
SpringOwl!
Asset Management LLC
MACANCY
YAHOO!
Where the world
checks in daily.
MISS NE? VISIT MET
FUCKR.COM/YBELLBOARD
Confidential | For Discussion Purposes Only | 85View entire presentation