SpringOwl Activist Presentation Deck slide image

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 | 85
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